Europe Turbocharger Market Overview:
A robust 7.13% CAGR for the worldwide turbocharger
industry. By raising the density of the gas intake, a
turbocharger can increase the volumetric efficiency of an internal combustion
engine. With the use of a turbocharger, the internal combustion engine's output
may be raised without growing its capacity. This centrifugal blower increases
the power of the IC engine by producing air at a high pressure.
The Europe Turbocharger Market has experienced substantial growth in
recent years, propelled by the automotive industry's pursuit of enhanced engine
performance and fuel efficiency. Turbochargers, which leverage exhaust gases to
force additional air into the combustion chamber, result in improved power
output and better fuel economy. This technology is particularly crucial for
downsized engines, enabling them to maintain or even surpass the performance of
larger counterparts while reducing emissions. The global push for stricter
emission standards has further accelerated the adoption of turbochargers in
both gasoline and diesel engines, as they offer an effective solution to meet
environmental regulations without compromising on performance.
In addition to the automotive sector, the Europe Turbocharger Market has
found applications in various industries, including aerospace and marine, where
efficiency gains and power augmentation are sought. As manufacturers focus on
developing advanced materials and optimizing design for durability and
performance, the Europe Turbocharger Market is poised for continuous
innovation. Geographically, Asia-Pacific, led by emerging economies like China
and India, remains a key player in the Europe Turbocharger Market, owing to the
robust expansion of the automotive industry and the growing demand for more
fuel-efficient vehicles across the region. The Europe Turbocharger Market is
expected to evolve further as technological advancements continue to shape the
landscape of internal combustion engines and propel the demand for
turbocharging solutions.
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Report of Europe Turbocharger Market
The expansion of the worldwide Europe Turbocharger Market is being aided
by many factors. According to the MRFR research, these reasons include the
growing demand for electric vehicles, rising fuel prices, the trend toward
greener vehicles, the requirement for gasoline and vehicle engines that are
fuel-efficient, as well as the increased production and manufacture of both
lightweight and heavy vehicles. On the flip side, the need to comply with
emission regulations and high prices may hamper market growth over the forecast
period.
Industry Updates
- January
2021- AVL Powertrain UK Ltd has selected Liebherr Aerospace Toulouse to
deliver 25 kW, 400 V two-stage electric turbochargers for supporting the
creation of fuel cell electric demonstrators for commercial cars.
Turbocharger
COVID-19 Analysis
The COVID-19 outbreak had a twin effect on the Europe Turbocharger
Market. On the one hand, supply chain disruptions, closure of manufacturing
facilities, and delay in car production, especially commercial cars equipped
with turbochargers, had a negative impact on the market growth. While on the
contrary, the use of turbo-boosting laptops during the work from home trends to
avail uninterrupted power service at home are having a positive impact on the
market growth. Besides, the resumption of the overall manufacturing sector due
to the gradual lifting of lockdowns is also adding market growth.
Europe
Turbocharger Market Key Players
- Continenetal
AG (Germany)
- Mitsubishi
Heavy Industries (Japan)
- Rotomaster
International (Canada)
- Borgwarner
Inc (US)
- Precision
& Turbo (US)
- Bosch
Mahle Turbo Systems GmbH (Germany)
- Honeywell
International Inc (US)
- Eaton
Corporation (Ireland)
- Cummins
Inc (US)
- And
others
Europe
Turbocharger Market Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global
Europe Turbocharger Market based on application, material, vehicle type, sales
channel, fuel type, and technology.
·
By technology, the global Europe Turbocharger
Market is segmented into electric turbocharger, wastegate, VGT/VNT, and others.
Of these, the electric turbocharger will lead the market over the forecast
period.
·
By fuel type, the global Europe Turbocharger Market
is segmented into gasoline and diesel. Of these, the gasoline segment will
dominate the market over the forecast period.
·
By sales channel, the global Europe Turbocharger
Market is segmented into aftermarket and OEM.
·
By vehicle type, the global Europe Turbocharger
Market is segmented into off-highway vehicles, heavy commercial vehicle, light
commercial vehicle, and passenger cars. Of these, the heavy commercial vehicle
will spearhead the market over the forecast period.
·
By material, the global Europe Turbocharger Market
is segmented into aluminium, cast iron, and others. Of these, the aluminium
segment will sway the market over the forecast period.
·
By application, the global Europe Turbocharger
Market is segmented into agriculture and construction, marine, automotive, and
others. Of these, the automotive segment will have the lion's share in the
market over the forecast period.
Europe Turbocharger Market Regional Analysis
By region, the global Europe Turbocharger Market covers the growth
opportunity and recent trends across Europe, North America, the Asia Pacific
(APAC), and the Rest of the World (RoW). Of these, the APAC region will rule
the market over the forecast period. Growing demand from India, China, and
Japan, cheap labor, low raw material prices, strict government regulations,
large population base, increase in disposal incomes, and high penetration of
diesel passenger cars and light vehicles are adding to the Europe Turbocharger
Market growth in the region.
In North America, the Europe Turbocharger Market is predicted to have
the second-largest share over the forecast period. The growing need for new
cars, adoption of automotive turbochargers, demand for low-emission cars,
government regulations on car emissions, and increased production of cars are
adding to the global Europe Turbocharger Market growth in the region.
In Europe, the Europe Turbocharger Market is predicted to have healthy
growth over the forecast period for the increasing application of the latest
technology in automobiles.
In the RoW, the Europe Turbocharger Market is predicted to have sound
growth over the forecast period.
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