The PCVs are expected to stand as a dominant vehicle segment in automotive turbocharger market landscape by 2024. Incidentally, this hasn’t been BorgWarner’s first brush with turbocharger technology. In 2017, the company had successfully installed its advanced turbocharging technology into Jaguar Land Rover. The turbocharging system was expected to help Jaguar Land Rover achieve its engine performance target and fuel efficiency from its new SUV models. Of late, numerous light and passenger commercial vehicle manufacturers are also deploying advanced turbocharging technologies for improved fuel efficiency, suitably impelling PCV sales across major geographies.
The progressive shift toward a greener, environment-friendly future has been a major driving force for automotive turbocharger market. In an era riddled with the fear of carbon emissions destroying the planet, automakers have been facing several challenges to optimize vehicle efficacy in the best means possible. Consequently, most of the automakers have now been working on bringing about suitable design and operational changes in turbochargers – the highly efficient components that play a major role in downsizing engine emissions.
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The incredible advantages of these induction devices have ensured an escalating demand for renewed turbocharging technologies. In consequence, pivotal automotive turbocharger market players have been working toward extending their regional reach by constructing new production facilities across various geographies. An instance validating the same is that of BorgWarner having opened its new turbocharger technology production plant in Thailand recently. Through this initiative, BorgWarner aims to provide clean and efficient turbocharging solutions for hybrid vehicles and EVs across the Asian turf.
Honeywell has been another lucrative player in automotive turbocharger market that has helped strengthen the competitive spectrum of this business space. The company, a couple of years ago, displayed some of its turbocharger technologies for commercial vehicles at the IAA Hannover 2016. Since then, the company has worked consistently to bring forth advanced turbo technologies for on and off-highway powertrains. The firm has also developed a supremely high-efficiency serial two-stage system to ensure optimum performance in heavy-duty long-haul trucks that require to be characterized by increased fuel efficiency and lowered CO2 emissions.
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In the years to come, turbochargers are expected to gain extensive traction in the global automotive space, owing to their substantially high efficiency and their contribution toward environmental safety. Of late, products such as variable geometry turbochargers (VGT) have also gained mass momentum, exceeding their counterparts, due to their cost-effectiveness and technical benefits. Driven by their massive demand on account of the increasing need for a greener environment, automotive turbocharge market, supported by a strict regulatory framework, will surpass a revenue collection of USD 24 billion by 2024.
Some Point from Table of Contents:
Chapter 5 Automotive Turbocharger Market, By Technology
5.1 Automotive turbocharger market share by technology, 2017 & 2024
5.2.1 Market estimates and forecast, 2013 – 2024, (Thousand units) (USD Million)
5.2.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand units) (USD Million)
5.3.1 Market estimates and forecast, 2013 – 2024, (Thousand units) (USD Million)
5.3.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand units) (USD Million)
5.4 Twin turbo
5.4.1 Market estimates and forecast, 2013 – 2024, (Thousand units) (USD Million)
5.4.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand units) (USD Million)
Chapter 6 Automotive Turbocharger Market, By Fuel
6.1 Automotive turbocharger market share by fuel, 2017 & 2024
6.2.1 Market estimates and forecast, 2013 – 2024, (Thousand units) (USD Million)
6.2.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand units) (USD Million)
6.3.1 Market estimates and forecast, 2013 – 2024, (Thousand units) (USD Million)
6.3.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand units) (USD Million)
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