Volume within the global automotive turbochargers market is expected to reach 39.45 million units by 2017, converting into total revenue of $12.63 billion.
Automotive turbochargers are forced induction systems which compress air entering into the engine by utilizing the heat energy of exhaust gases.
These devices introduce greater volumes of air into the engine cylinder thus making available more air-fuel mixture in each cylinder during power stroke of an engine; which in-turn boosts its performance.
A turbocharged engine offers many advantages such as increased power output, improved power to weight ratio and vehicle efficiency, and also helps in engine downsizing. Turbochargers can also be classified based on fuel types as gasoline and diesel turbocharger which are used for passenger cars and commercial vehicles.
The turbochargers use three basic technologies namely VGT, wastegate, and twin turbo. Turbocharger manufacturers have their own patented advancements in these three key technologies. Variable Geometry Turbochargers technology is widely adopted in passenger cars whereas wastegate turbo is widely used in commercial vehicles.
Turbocharged engines are becoming an increasingly attractive solution to high oil prices and the resulting high running costs of passenger cars. Turbocharged engines are up to 40% more efficient than non-turbocharged engines depending on vehicle size and performance.
Higher efficiency results in lower fuel consumption and lower carbon dioxide emissions for comparable performance.
In 2012, Europe accounted for nearly half of automotive turbochargers market volume followed by Asia-Pacific and North America. Diesel turbochargers find their prominent usage in passenger cars as well as commercial vehicles.
The European region is the largest market for diesel passenger cars with Asian and North American region slowly developing demand for diesel passenger cars thus representing potential markets in the nearing future.
Major players in the automotive turbocharger market include Honeywell International Inc. (Switzerland), BorgWarner Inc. (U.S.), Mitsubishi Heavy Industries Ltd (Japan), IHI Corporation (Japan), Cummins Turbo Technologies (U.K.), Bosch Mahle Turbosystems GmbH Co. KG (Germany), and Continental AG (Germany).
For more information on the automotive turbochargers market, see the latest research: Automotive Turbochargers Market
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