An IC engine requires extra air for combustion of additional fuel for large power generation that decreases its efficiency, thus, turbocharger plays a significant role in enhancing the efficiency by supplying compressed air. World turbocharger market is expected to exhibit a notable growth in the coming years as these chargers ensure optimum engine performance and enhanced fuel efficiency. Turbocharger particularly works best on high engine speed and does not require any power source to operate. It is driven by flow of burnt gases discharged by the engine. Presently, this technology is majorly used in automotive and aerospace industry. For example, manufacturers employ turbochargers in the engine of fast racing cars to generate high amount of power even under harsh and high temperature conditions.
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With the rising demand of vehicles, numerous players are trying to employ an ecofriendly and energy efficient solution in vehicle’s engine to reduce the fuel consumption and atmospheric pollution. Turbocharger reduces the power loss and decreases the emission of various gases from vehicles that cause air pollution. Moreover, turbochargers are compact in size, thereby, reducing the overall size of engine and vehicle. The growing application of IC engines in motor vehicles and ongoing researches on implementation of turbochargers in other sectors is expected to create huge opportunities for turbocharger manufacturers.
The market is segmented on the basis of technology, fuel type, end user, application, industry verticals and geography. The technology segment is classified into twin turbo technology, wastegate technology and variable geometry technology. On the basis of fuel type, turbocharger market is classified as diesel turbocharger and gasoline turbocharger. The end user segment includes OEM and aftermarket. On the basis of application, the market is classified as light commercial vehicles, heavy commercial vehicles, ships & aircraft, heavy duty vehicles, and locomotive. The report also analyses various industry verticals that include aerospace & defense, automotive, marine, and agriculture & construction. Based on geography, the world turbocharger market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America is bifurcated into the U.S., Mexico and Canada’; whereas Europe region has been further segmented into UK, Russia, Germany and rest of the Europe. The countries covered under Asia-Pacific are China, India, Japan and rest of Asia Pacific. LAMEA includes Latin America, Middle East and Africa.
Major companies profiled in the report include Honeywell International Inc., Bosch Mahle Turbo System GmbH & Co. KG, Mitsubishi Heavy Industries Ltd., IHI Corporation, BorgWarner Inc., Eaton Corporation PLC, Rotomaster International, Cummins Inc., Precision Turbo & Engine, and Continental AG.
POTENTIAL BENEFITS FOR STAKEHOLDERS
The world turbocharger market is segmented on the basis of technology, fuel type, end user, application, industry vertical and geography.
MARKET BY TECHNOLOGY
Variable geometry technology
MARKET BY FUEL TYPE
MARKET BY END USER
MARKET BY APPLICATION
Light commercial vehicles
Heavy commercial vehicles
Ships & aircraft
Heavy duty vehicles
MARKET BY INDUSTRY VERTICALS
Aerospace & defense
Agriculture & construction
MARKET BY GEOGRAPHY
Rest of the Europe
Rest of Asia Pacific
Honeywell International Inc.
Bosch Mahle Turbo System GmbH & Co. KG
Mitsubishi Heavy Industries Ltd.
Eaton Corporation PLC
Precision Turbo & Engine
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