Global Automotive Turbochargers Market Worth $12.63 Billion by 2017
DALLAS, January 30, 2013 /PRNewswire/ –
The report “Automotive Turbochargers Market by Vehicle Types (Passenger & Commercial),
Fuel Types (Diesel & Gasoline) & Geography – Global Trends & Forecasts to 2017″ defines
and segments the global automotive turbocharger market by vehicle type, fuel type, and
geography with analysis and forecast of the global volume and revenue. As of year 2012,
Europe consumes almost half of the volume followed by Asia-Pacific and North America. The
high volume segments of the market are passenger cars and diesel engines. The high growth
segment is identified as gasoline turbochargers. Variable Geometry Turbocharger (VGT) is
the most preferred turbocharger technology in passenger cars, whereas in commercial
vehicles Wastegate turbocharger is the most preferred.
Browse 140+ market data tables/figures spread through 356 pages and in-depth TOC on
“Automotive Turbocharger Market by Vehicle Types (Passenger & Commercial), Fuel Types
(Diesel & Gasoline) & Geography -Global Trends & Forecasts to 2017″
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Europe is the highest consumer of turbochargers mainly due to the introduction of new
standards such as Euro V and Euro VI which strongly emphasize on the reduction of CO2 as
Europe accounts for almost 20% of all CO2 emissions with passenger cars contributing
around 12%. According to European Automobile Manufacturers Association, in 2011, the total
passenger cars produced in Europe accounted for 26% of the global production. Thus, in
order to control the CO2 emissions and also provide better fuel economy, turbochargers are
being used to a great extent.
Asia-Pacific is also another big market for turbochargers as there are big automobile
manufacturing markets in China, Japan, and South Korea. In Asia-Pacific, China is the
biggest market for turbochargers with a penetration rate of 18% in 2011 and a penetration
rate of about 15% in passenger cars.
North America is far behind Europe and Asia-Pacific in the use of turbochargers in
automotive. It is mainly using turbochargers in gasoline vehicles but the trend is
shifting slowly due to the strict emission and fuel economy standards set by U.S. CAFE
organization. The turbo penetration rate in passenger cars was just 7%. In ROW, Brazil and
Russia are two big markets of turbochargers in automotive. The penetration rate of
turbochargers in Brazil was around 11% in 2011.
The drivers of the industry are identified as stringent carbon emission norms, engine
downsizing trend, and growing passenger vehicles market. The restraining factors are
identified as low preference of diesel passenger cars in North America and Asia-Pacific
and weak penetration of turbochargers in gasoline engines. The issues in automotive
[http://www.marketsandmarkets.com/Market-Reports/turbochargers-market-919.html ] are mainly
pertaining to that of the usage of counterfeit products; increased preference of gasoline
passenger cars; and gradual shift towards electrically assisted turbochargers. The
turbocharger manufacturers are closely working with their distributors and automotive
manufacturers to address to the growing demands from end-users. The industry players are
following strategies such as consolidation and capacity expansion to address to the
demands generated by end-user industries and developing countries.
The major players in the turbochargers 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).
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