Automotive Turbocharger Market (Vehicle Types, Fuel Types) Worth $12.63 Billion by 2017 – New Report by MarketsandMarkets
Automotive Turbocharger Market report provides a comprehensive review of turbocharger market drivers, restraints, opportunities, challenges and key issues in the market. http://www.marketsandmarkets.com/Market-Reports/turbochargers-market-919.html
(PRWEB) November 10, 2013
The report “Automotive Turbocharger 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 113 market data tables and 28 figures spread through 356 pages and in-depth TOC on “Automotive Turbocharger Market – Global Trends & Forecasts to 2017”.
Early buyers will receive 10% customization on this report.
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. CAFÉ 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 the market 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 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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