Automotive Turbocharger Market

Market Leader - Automotive Turbocharger Market

The automotive turbocharger market is estimated to be USD 12.5 Billion in 2019 and is projected to reach USD 26.4 billion by 2027, at a CAGR of 9.8%, from 2019 and 2027. Decreased limits of pollutants in upcoming emission regulations need for higher power & better fuel efficiency are the key factors that are projected to drive the demand for automotive turbochargers globally.

The key players in the turbocharger industry are - Garrett Motion, Continental AG, BorgWarner, IHI, making it a highly competitive scenario. In the race to stay competitive and durable, these companies adopt various strategies such as Merger & Acquisition, Joint Ventures, and new product development. The fundamental approach adopted by industry players to gain traction in the automotive turbocharger market was regional expansions. There were five significant expansions in the turbocharger industry from 2017 till 2019; two by Continental AG, two by BorgWarner, and one by Honeywell. In addition to extensions, companies also adopted new product launches as a key strategy. For example, BorgWarner launched its first Dual volute turbocharger for light-duty gasoline engines with quicker transient response at low speeds. There were three major new product developments by Mitsubishi heavy industries, Continental AG, BorgWarner from 2017-2019.

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Garrett, (a Subsidiary of Honeywell) is the leader in turbocharger technologies, and the company adopted expansions and new product launches as its key strategies. In August 2019, Garrett showcased its 48 V Electric turbochargers for mass-market passenger vehicles. In 2017, Garrett launched third-generation twin-scroll turbocharger for 4-cylinder engines starting from 1.5 liters with increased power and torque. In 2017 It also launched electrically actuated ‘side-by-side’ two-stage wastegate-VNT diesel turbocharger with increased horsepower and torque and reduced NOx emissions. In expansions, Honeywell announced the availability of its new Honeywell Garrett Redboost series of turbochargers in the Chinese independent aftermarket. Redboost turbochargers have been developed for the needs of Chinese consumers seeking options for balancing cost and performance in 2017.

BorgWarner (US) adopted business strategies like new product development and expansions. In April 2019, the company has expanded the turbocharger product line by introducing 13 new turbochargers. Its aftermarket product portfolio is designed for light-duty, heavy-duty, and utility vehicles. It also launched its 48V electric turbo in Vienna Motor Symposium to showcase its dedication to cleaner mobility. In March 2018, BorgWarner inaugurated a new production plant for turbochargers in Thailand. In April 2018, Borg warner was expanding its broad portfolio as a reliable partner in the independent aftermarket (IAM) with 17 new turbochargers for diesel vehicles. BorgWarner further enhanced its already comprehensive collection and supported the growing demand for high-quality replacement turbochargers.

Related Reports:

Automotive Turbocharger Market by Technology (VGT, Wastegate, Electric), Material (Cast Iron, Aluminum), Fuel Type, On-Highway Vehicles (Passenger Car, LCV, Truck & Bus), OHV (Agriculture, Construction), Aftermarket and Region - Global Forecast to 2027

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Report Code
AT 2628
RI Published ON
11/8/2019
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