Asia-Pacific 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 Asia-Pacific
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 Asia-Pacific 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 Asia-Pacific Turbocharger Market is poised for
continuous innovation. Geographically, Asia-Pacific, led by emerging economies
like China and India, remains a key player in the Asia-Pacific Turbocharger
Market, owing to the robust expansion of the automotive industry and the
growing demand for more fuel-efficient vehicles across the region. The Asia-Pacific
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 Asia-Pacific Turbocharger Market
The expansion of the worldwide Asia-Pacific 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.
Asia-Pacific
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
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 Asia-Pacific 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.
Asia-Pacific
Turbocharger Market Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global
Asia-Pacific Turbocharger Market based on application, material, vehicle type,
sales channel, fuel type, and technology.
·
By technology, the global Asia-Pacific 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 Asia-Pacific 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 Asia-Pacific
Turbocharger Market is segmented into aftermarket and OEM.
·
By vehicle type, the global Asia-Pacific
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 Asia-Pacific 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 Asia-Pacific
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.
Asia-Pacific Turbocharger Market Regional
Analysis
By region, the global Asia-Pacific 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 Asia-Pacific
Turbocharger Market growth in the region.
In North America, the Asia-Pacific 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 Asia-Pacific Turbocharger Market growth in the
region.
In Europe, the Asia-Pacific 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 Asia-Pacific Turbocharger Market is predicted to have
sound growth over the forecast period.
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