Pune, India -- (SBWIRE) -- 04/25/2019 -- The report on Automotive Turbocharger Market by engine (diesel, gasoline engine), operation (e-turbocharger, conventional turbocharger), technology (twin turbo, wastegate), vehicle (light commercial, off-road vehicle), sales channel (original equipment manufacturer) trends analysis and forecasts up to 2024 studies the market sizes, key trends and opportunities in the main geographies such as North America, Europe, Asia-Pacific, Rest of the World. According to the report the global automotive turbocharger market is projected to grow at a CAGR 6.8% in terms of value over the period of 2018-2024. The growth in the world market is primarily driven by significant contribution by North America (Leading region) region to this market.
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Automotive Turbocharger Market: Insight
The automotive turbocharger is commonly used in passenger cars to obtain greater power output from a given engine displacement. A turbocharger is a gas compressor. It is used to force air into an internal combustion engine. A turbocharger is a form of a supercharger. It increases the amount of air entering the engine to create more power. More air into the combustion chamber means more amount of fuel will be admitted into the cylinder and as a result, one will get more power from the same engine if the turbocharger is installed in it. A turbocharger has the compressor powered by a turbine. The turbine is driven by the exhaust gas from the engine. It does not use a direct mechanical drive. This helps to improve the performance of the turbocharger.
Automotive Turbocharger Market: Drivers and Restraints
The automotive turbocharger is considered to be the most important automotive accessories as it increases the efficiency of the engines in terms of power and output which drives the market. It increases engine power by pumping more air to facilitate the ease of combustion. An automotive turbocharger makes use of the exhaust air released from the combustion chamber of a vehicle. It reduces the intake of fuel and allows the engine to work smoothly in various ambient conditions that fueling the growth of the market. Rising vehicle production with advanced features is one of the driving factors of automotive turbocharger market. The automotive turbocharger is commonly utilized in diesel vehicles. The demand for electric vehicles is increasing due to its applications such as increase energy security, improve fuel economy, lower fuel costs, and reduce emissions. The increasing use of electric vehicles restrains the automotive turbocharger market. As the automobile industry is growing, the investment in automotive turbocharger is also growing that can be an opportunity to automotive turbocharger manufacturers.
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Automotive Turbocharger Market: Regional Analysis
Among the geographies, Asia Pacific is expected to dominate the global automotive turbocharger market. The automotive industry in the Asia-Pacific region has been dynamic over the past few years and has seen an increase in the annual production of passenger and commercial vehicles. In recent years, Asia-Pacific has emerged as a hub for automobile production. With the increasing vehicle production and increasing demand for greater power generating vehicles, the demand for turbocharger will also increase in the Asia Oceania turbocharger market.
Automotive Turbocharger Market: Competitive Landscape
The report provides profiles of the companies in the market such as Turbo Energy Private Limited, Mitsubishi Electric Corporation, MAHLE GmbH, THE TURBO ENGINEERS GmbH, Robert Bosch GmbH, IHI Corporation, Honeywell International Inc., Delphi Technologies, and Cummins Inc.
Report Findings
1. Drivers
- Rising Vehicle Production with Advance Features
- High Fuel Efficiency, Lower Emission as Well as Provide High Power
2. Restraints
- Increasing Use of Electric Vehicles
3. Opportunities
- Growing Investments
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