Rockville, MD -- (SBWIRE) -- 03/14/2018 -- Fact.MR has recently published a new report titled "Automotive Turbocharger Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022" to its vast database of market reports. Automotive turbochargers are turbine-driven forced induction devices that boost the efficiency and power output of internal combustion engines by channeling extra air pressure into combustion chamber. These devices are used for forcing more fuel into combustion chamber when the vehicle's atmospheric pressure fails to facilitate desired power output for the engine. Turbochargers are weighed by car manufacturers as a viable commodity that can keep fossil fuel engines cleaner. While rising automobile production is being directly linked with global environmental deterioration, fuel economy standards are favoring the production of cars and vehicles with turbocharged engines. Recent technological developments have introduced advanced turbochargers with improved valve designs that enhance the vehicle's performance in low-speed as well as high-speed conditions. Automotive turbochargers developed on wastegate technologies are transforming diesel engines by reducing emissions. Turbochargers are also lucrative for automobile manufacturers who are making efforts towards engine downsizing.
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Downsizing and Focus on cost to Impact Automotive Turbocharger Market
Rising fuel prices has directly affected the sales of automobiles across the globe which in turn is spurring adoption of innovative technologies such as turbochargers and direct injection engines. OEM's have begun fine tuning turbochargers to cater to their customers' demands which is driving the automotive turbocharger market. The global automotive turbocharger market will grow by a substantial value in the period 2017-2022 and touch US$ 19 billion at the end of 2022, representing a steady CAGR.
Pendulum Swing between Gasoline and Diesel Now in Favour of the former
The two main automobile fuels are gasoline and diesel and there is always a tug-of-war between the two depending on numerous factors such as governmental subsidies in favour of a particular fuel or the market preferences. At present gasoline accounts for three-fifth revenue share by engine type in the automotive turbocharger market and the segment is poised to grow to almost US$ 11 billion by the end of the forecast period. North America in particular has a strong affinity for gasoline and manufacturers are advised to focus on this highly lucrative and affluent region of the automotive turbocharger market. Diesel naturally occupies the balance revenue share and is anticipated to be worth a few billion dollars in 2017.
Cost-conscious customers' Huge Segment of Automotive Turbocharger Market
It seems to be a volumes game in the automotive turbocharger market as the low-cost segment comprises more than half the automotive turbocharger market in terms of price. With a steady CAGR from 2017-2022, the low-cost segment is likely to be worth just under US$10 billion by the end of the forecast period. The mid-size segment is also quite important as it represents one-third of the revenue share and is anticipated to have a market value of double-digit billion dollars for the year 2017. Even though the high-price segment is the smallest in the automotive turbocharger market, it is critical from a profitability point of view and key stakeholders should go after this segment with all guns blazing.
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Passenger Cars Greater than LCV and HCV in Automotive Turbocharger Market
Passenger cars have the largest portion of the automotive turbocharger market with a revenue share touching 60% in 2017 that is larger than that of the LCV and HCV segment combined. Thus, it would not be surprising if major players focus all their attention on the high-profile passenger cars segment as it is estimated to be an US$11 billion market at the end of the five year study period. As a result of a well-developed road infrastructure, affluent population, and highly affordable gasoline prices, North America is the largest contributor to the passenger car segment in the automotive turbocharger market. A steady CAGR from 2017-2022 is enough to make manufacturers salivate at their prospects in this region of the automotive turbocharger market. In addition to this, passenger cars will remain the dominant vehicle segment for automotive turbochargers pertaining to customization needs of vehicle owners, which includes boosting the car's performance.
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