Turbocharger Market to Exhibit a Remarkable CAGR of 5.3% by 2027 | CONTINENTAL AG., Precision Turbo & Engine, Eaton

By technology, the twin-turbo technology turbocharger generated the highest revenue in 2019.

WILMINGTON, NEW CASTLE, DE, UNITED STATES, September 10, 2024 /EINPresswire.com/ -- 𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐓𝐮𝐫𝐛𝐨𝐜𝐡𝐚𝐫𝐠𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭¹ 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟏𝟔.𝟏𝟑 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟏𝟗, 𝐚𝐧𝐝 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟐𝟒.𝟐𝟑 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟐𝟕, 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐢𝐧𝐠 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟓.𝟑%. Turbocharger is an integral part of internal combustion (IC) engine, which improves its performance by increasing the amount of air intake in the combustion chamber with the help of ejected burnt air. 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. The global turbocharger market is expected to exhibit a notable growth in the coming years as these chargers ensure optimum engine performance and enhanced fuel efficiency.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/1683

Improved engine performance and fuel efficiency, several government regulations, and engine downsizing to reduce vehicle weight drive the growth of the global turbocharger market². On the other hand, complications related to turbocharger installation and rise in engine temperature owing to overheating issues in turbochargers curtail down the growth to some extent. However, increase in demand for fuel efficient as well as gasoline engines is expected to create multiple opportunities in the industry.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐂𝐮𝐦𝐦𝐢𝐧𝐬 𝐈𝐧𝐜., 𝐈𝐇𝐈 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐇𝐨𝐧𝐞𝐲𝐰𝐞𝐥𝐥 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐜., 𝐂𝐎𝐍𝐓𝐈𝐍𝐄𝐍𝐓𝐀𝐋 𝐀𝐆., 𝐑𝐨𝐭𝐨𝐦𝐚𝐬𝐭𝐞𝐫 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥, 𝐏𝐫𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐓𝐮𝐫𝐛𝐨 & 𝐄𝐧𝐠𝐢𝐧𝐞, 𝐁𝐨𝐫𝐠𝐖𝐚𝐫𝐧𝐞𝐫 𝐈𝐧𝐜., 𝐄𝐚𝐭𝐨𝐧, 𝐌𝐈𝐓𝐒𝐔𝐁𝐈𝐒𝐇𝐈 𝐄𝐋𝐄𝐂𝐓𝐑𝐈𝐂 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐓𝐮𝐫𝐛𝐨 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬 𝐋𝐭𝐝.

Factors such as improved engine performance and fuel efficiency, government regulations and engine downsizing to reduce vehicle weight drive the growth of the turbocharger market. Moreover, turbocharger installation and excessive rise in engine temperature, owing to overheating issues in turbochargers are the factors expected to hamper the growth of the turbocharger market. However, rise in demand for fuel efficient engines and gasoline engines is expected to supplement the growth of the turbocharger market during the forecast period.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/e6b8cdc76dc40309ab9923212e7c9cfd

Turbochargers swiftly gained popularity as they find wide applications in light commercial vehicles, heavy commercial vehicles, ships & aircraft, heavy duty vehicles, and locomotives, owing to several benefits such as enhanced fuel-efficiency and improved engine performance in terms of power and output. In addition, they also help automakers to meet regulatory standards regarding carbon emission. For instance, the government of Europe imposed emission targets for new light commercial vehicles, wherein each vehicle is required to have a label stating its fuel efficiency and CO2 emission level.

Based on material, the aluminum segment contributed to around three-fourths of the global turbocharger market share in 2019, and is projected to retain its dominance by the end of 2027. The same segment would also manifest the fastest CAGR of 5.5% from 2020 to 2027. This is attributed to its lighter weight as compared to other materials which helps reduce the weight of the vehicle up to 30%.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, Europe, followed by Asia-Pacific and North America, held the major share in 2019, garnering more than two-fifths of the global turbocharger market. Rise in application of latest technology in automobiles drives the growth of the market in this region. Simultaneously, the region across Asia-Pacific would cite the fastest CAGR of 6.1% till 2027. This is due to increased production of vehicles in the province.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/1683

With the rise in demand for vehicles, numerous players are trying to employ eco-friendly and energy efficient solutions in vehicle engines to reduce fuel consumption and atmospheric pollution. Turbochargers reduce power loss³ and decrease emission of various gases from vehicles that cause air pollution. Moreover, turbochargers are compact in size, thereby, reducing overall size of engine and vehicle. The growing application of IC engines in motor vehicles and on going researches on implementation of turbochargers in other sectors is expected to create huge opportunities for turbocharger manufacturers.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/1683

Current trend for the installation of better and efficient turbochargers in vehicles has increased due to its advantages such as better and increased vehicle efficiency. This has enabled turbocharger manufacturers to make continuous enhancements in existing turbochargers, therefore, boosts the turbochargers market growth.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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¹ https://www.alliedmarketresearch.com/turbocharger-market
² https://www.alliedmarketresearch.com/press-release/turbocharger-market.html
³ https://www.prnewswire.com/news-releases/turbocharger-market-to-garner-24-23-bn-globally-by-2027-at-5-3-cagr-allied-market-research-301145472.html