Variable geometry technology preferred for turbocharged engines employed in passenger cars
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.
The report estimates the market size of gasoline and diesel turbocharger industry for passenger cars and commercial vehicles. The report provides a comprehensive review of market drivers, restraints, opportunities, challenges, and key issues in the market. The market is further segmented and forecasted for major regions, such as North America, Europe, Asia-Pacific, and Rest of the World (ROW). Major countries with the market volume and revenue are covered for each of the region. The top players of the industry are profiled in detail with their recent developments and other strategic industry activities.
Turbocharged engines apart from automotive application are also used in applications such as marine, stationary power plants, other stationary generator sets, and off-highway vehicles. The increasing usage of automotive turbochargers has made the automotive manufacturers to consider it as a stock unit along with the engine while manufacturing vehicles.
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Europe expected to remain largest market for the next five years
The global automotive turbochargers market volume is expected to reach 39.45 million units converting into total revenue of $12.63 billion by 2017. In the year 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. 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.
Gasoline Turbochargers represent high growth segment
The major automotive markets in Asia-Pacific and North America have high preference for gasoline engines in passenger car segment. Stable economic conditions supported by rising income levels of individuals in Asia-Pacific region are driving demand for automobiles. Furthermore, there has been a quick acceptance for turbochargers in gasoline powered engines. This presents high growth opportunity for manufacturers in these regions/countries.
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Small turbocharged engines gaining attention from automobile manufacturers
Preference of smaller efficient engines, increasing production of passenger vehicles, and strict carbon di-oxide (CO2) and nitrous oxide (NOX) emission norms are the major reasons behind the growth of automotive turbochargers market. Low preference of diesel passenger cars in North America and Asia-Pacific and weak penetration of turbochargers in gasoline engines are the restraining factors hindering the growth of the market. The key issues affecting the market are the usage of fraudulent products; preference for gasoline passenger cars in certain regions; and progressive shift towards electrically assisted turbochargers. The turbocharger manufacturers are collaborating with distributors and automotive manufacturers to address specific requirements of end-users.
Turbocharged engines will soon become the obvious preference for automobile manufacturers as well as buyers; as it helps manufacturers in meeting efficiency levels and curbing carbon emissions and on the flipside turbocharged engine equipped vehicle offers benefits to buyers in terms of improved fuel economy and power output.
The key players in gasoline and diesel turbocharger market are 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).