HOME Research Insight Honeywell (US) and BorgWarner (US) are the Leading Players in the Automotive Turbocharger Market

Honeywell (US) and BorgWarner (US) are the Leading Players in the Automotive Turbocharger Market

The automotive turbocharger market is estimated to be USD 16.87 billion in 2018 and is projected to reach USD 31.61 billion by 2025, at a CAGR of 9.39%, from 2018 to 2025. The increasing production of passenger cars, and commercial vehicle, stringent emission regulations, and changing customer preferences for greater power generating vehicle are the factors projected to drive the automotive turbocharger market.

The automotive turbocharger market comprises several global market players, which make it highly competitive. These players have adopted various strategies to diversify their presence globally and increase their market shares. The key strategy adopted by industry players to gain traction in the automotive turbocharger market was regional expansions. The companies adopted this strategy to diversify their operations geographically and to fortify their business networks. In addition to expansions, companies also adopted new product launch as the key strategy. For example, Honeywell unveiled a new GTX3584RS flagship turbo combining great performance with packaging flexibility.

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Honeywell (US) is one of the leading players in automotive turbocharger market, and the company adopted strategies such as new product development and expansion to strengthen its market position. In 2017, 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 addition to that, in 2016, Honeywell introduced new VNT turbocharger for ECO gasoline car. This innovation was expected to help enhance low-end torque and improve the fuel efficiency of a gasoline engine.

BorgWarner (US) adopted business strategies like new product development and expansion. For instance, in February 2018, BorgWarner expanded its broad portfolio of advanced service replacement turbochargers, reaffirming its position as a strong partner in the aftermarket.  In 2015, BorgWarner has developed a “Flex-Fuel Turbocharger” for the Brazilian automotive market. In 2017, BorgWarner entered into a supply contract with BMW for its TwinPower Turbo diesel engine. This turbocharger provides outstanding performance and improved fuel efficiency by up to 4%.

Related Reports:

Automotive Turbocharger Market by Technology (VGT, Wastegate, Electric), Material (Cast Iron, Aluminum), Ice & Hybrid Vehicle, Fuel Type, Off-Highway (Agricultural, Construction, Locomotive), Aftermarket, and Region - Global Forecast to 2025

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