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Market Leaders - Turbocharger Market


The demand of turbocharger market for automotive industry is increasing, owing to increasing stringency in emission & fuel efficiency regulations. OEMs are developing efficient downsized turbo engine in response to stringent emission and fuel economy regulations. The turbocharger market for automotive industry is projected to grow at a CAGR of 7.63% during the forecast period, to reach USD 18.49 Billion by 2021.

The key strategies adopted by major players to gain traction in the market is expansion and new product launches. Both these strategies accounted for approximately 45% each of all the strategies adopted by companies. Cummins Inc. (U.S.) launched a new, two-stage turbocharger with Rotary Turbine Control (RTC) for LCVs. It is highly efficient and promotes low emission levels. Additionally, BorgWarner Inc. (U.S.) started construction of its manufacturing facility in Thailand. The facility will cater to the turbocharger demand from Japanese customers and the global automotive manufacturers based in Asia. Construction of the plant is expected to be completed by May 2017.The second most widely followed strategy is agreements/partnerships/joint ventures. Rotomaster International (Canada) signed a distribution agreement with SCM Turbo (U.K.) to launch its turbocharger products in Europe.  Other companies that adopted this strategy include IHI Corporation (Japan), and Eaton Corporation (Ireland).

The turbocharger market for automotive industry is dominated by a few global players, and comprises several regional players. Honeywell International Inc. (U.S.) is a leading player in the market. The company manufactures and distributes turbochargers such as wastegate, VNT, dual boost, and others for light vehicle diesel engines, light vehicle gasoline engines, on-highway engines, off-highway engines, and race engines.The key strategy followed by the company is new product launch. In May 2016, the company has developed a new Variable Nozzle Turbine (VNT) turbo which would help enhance low end torque and improve the fuel efficiency of a gasoline engine.

Borg Warner Inc. (U.S.) specializes in manufacturing and selling turbochargers, emission systems, timing devices and chains, thermal systems, torque transfer systems, rotating electrical devices and transmission systems to OEMs. The company has strong R&D capabilities with investments of around USD 307.4 million on R&D in 2015. It has adopted the strategy of expansion to increase its presence in the turbocharger market for automotive industry. In October 2016, the company started construction of its manufacturing facility in Thailand which will cater to the turbocharger demand from Japanese customers and the global auto manufacturers based in Asia. It is expected to be complete by May 2017.

Related Reports:

Turbocharger Market by Vehicle Type (On-Highway(Passenger Car, LCV & HCV), Off-Highway (Agricultural Tractors & Construction Equipment)), Technology (VGT/VNT & Wastegate), Fuel Type (Gasoline & Diesel), & Aftermarket by Region- Forecast to 2021

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