Turbochargers are used to force air into an internal combustion engine. To create more control to the engine, it rises the amount of air entering the engine. More air means more fuel to the engine. This can increase the power to weight proportion of the engine.
When people talk about high performance vehicles or sports vehicle, the turbochargers always comes in the mind. Turbocharges boosts the engine’s horsepower which a great advantage and hence turbochargers are famous.
On the other hand, hybrid- turbochargers consists of high speed electric air compressor and turbine generator. It includes an energy recovery system to provide power to the electric turbo. The demand for engine downsizing which improves the vehicle weight with better mileage and enhanced vehicle execution are major factors which drives the Global Automotive Turbocharger advertise. Gasoline turbochargers is the quickest developing segment in Automotive turbocharger market in value and volume terms.
Honeywell Transportation Systems (U.S.), the main player of gasoline turbos made turbo’s like V8 twin-turbo BMW X-Series, Opel Astra, V6 Ford EcoBoost, mono-scroll 1.4L, and twin-scroll 1.6L BMW.
What drives the Turbocharger Market?
- Engine Manufacturing is Rising
According to Society of Motor Manufacturers and Traders (SMMT), engine manufacturing in countries like United Kingdom is growing.
Automotive OEM’s are identifying ways to reduce CO2 emission:
Globally, the government is pressurising the automotive OEM’s to manufacture and design vehicles to reduce the CO2 emission. The manufacturers are working on different and advance technologies to reduce the vehicle weight and design engines in such a manner that they consume less fuel and deliver more power to the vehicle.
Dynamic Boosting System, a gas turbine powered electric generator system manufacturer, has developed the next generation of its electric super charger product based on TurboClaw technology with high efficiency, high temperature operations and low-cost manufacturing. Its design includes BLDC i.e. High-speed permanent magnet brushless DC.
Honeywell Transportation System, in 2017, the leading global manufacturer of automotive turbochargers, started working on its new gasoline turbocharger technology to improve power and torque that will help in the reduction of vehicle emissions. Globally automotive manufacturers are relying on Honeywell to manage the increasing emission targets for CO2.
Automotive emission regulation is the major factor that is fuelling the introduction of low emission vehicles. This drives the Automotive Turbocharger Market globally.
Some of the major players operating globally in Automotive Turbochargers are Honeywell International Inc., IHI Corporation, BorgWarner Inc., Mitsubishi Heavy Industries Ltd., Cummins Inc., Bosch Mahle Turbo Systems GmbH & Co. KG, Continental AG, Eaton Corporation etc.
Growing Vehicle Production- Drives the Automotive Turbocharger Market
Growing automobile production globally, prominently passenger cars, coupled with huge vehicle fleet are some of the other major factors aiding the market of automotive turbocharger market.
The Global Automotive Turbocharger market is projected to grow at a CAGR of over 8%, to reach a market size of $19 Billion, over the next five years. The demand for gasoline Automotive Turbocharger is increasing due to government regulations for emissions. Moreover, the demand for electric vehicles is increasing across the globe and government is offering incentives and subsidiaries for electric vehicles which will drive the demand for Automotive Turbochargers during the forecast period as well.
United States Auto Industry:
In December 2016, the industry sold over 1.6 Million vehicles. Sales of SUV’s and trucks accounted for a volume share of two-third.
General Motor’s sales in the month of December 2016, increased by 10 percent by selling more than 3,00,000 vehicles. Strong demand for SUV’s and pickups helped the company to boost the sales.
Ford Motors, the second largest manufacturers in United States, sold more than 2,30,000 vehicles in the month of December 2016, the company recorded a sale of 2.61 Million vehicles in United States in 2015.
The growing per capita income, growing trend of SUV’s in the country is boosting the automotive sales. The growing vehicles sales drives the automotive turbocharger market in the country.
Conclusion: The Automotive Turbocharger market is projected to grow at a CAGR of over 8%, to reach a market size of $19 Billion, over the next five years. The demand for engine downsizing which makes the vehicle lighter with better fuel economy, and saving on fuel emissions and improved vehicle performance are major factors responsible for growth of Automotive Turbocharger market. The demand for gasoline Automotive Turbocharger is increasing due to government regulations for emission norms. Moreover, the demand for electric vehicles is increasing across the globe and government is offering incentives and subsidiaries for electric vehicles which will drive the demand for Automotive Turbochargers during the forecast period as well.