San Jose, California (PRWEB) June 30, 2014
Follow us on LinkedIn – As the automotive industry continues to be challenged by issues pertaining to energy conservation, efficiency and emissions, vehicle powertrain and internal combustion engine technologies are expected to evolve in sync with environmental requirements. Hybridization/electrification, downsizing, and turbocharging are technologies expected to hit the spotlight in the coming years. Turbocharging, as a technology, especially holds attractive potential, given its ability to meet strict fuel-efficiency standards, and emissions regulations.
Growing consumer demand for vehicles that are environment friendly and fuel efficient coupled with mounting government pressure on auto manufacturers to cut down carbon emissions from vehicles, are emerging as primary growth drivers for automotive turbochargers particularly in the OEM sector. Projected rise in vehicle demand and subsequent rise in production of automobiles will drive demand for OEM automotive turbochargers. Demand for turbochargers used in light duty vehicles including passenger cars is growing rapidly supported by strict regulations that require diesel engine vehicles to be fitted with systems that reduce particulate matter and NOx emissions. Growing consumer preference for smaller cars which can be powered up to match the performance of bigger vehicles will especially benefit growth in the passenger cars market. Turbochargers for small cars with two-cylinder and three-cylinder engines will therefore witness strong gains in the market.
While diesel engines primarily utilize turbochargers, gasoline engines in the coming years will emerge as a lucrative market segment as petrol engine downsizing gains ground. Manufacturers are also focusing on the development of turbochargers for other types of motor vehicles such as natural gas engines and hybrid vehicles. Continuous technology innovations that add reliability and efficiency in terms of thermal effectiveness and engine specific output will additionally help drive growth and widespread adoption of turbochargers as a standard in automotive engineering and design.
As stated by the new market research report on Automotive Turbochargers, Europe represents the largest regional market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 11.9% over the analysis period. Growth in the region is driven by economic development, increasing income level, growing consumer spending power, strong rise in automotive production, and huge demand for new cars, including luxury cars, in India, China, Thailand and Korea.
Key players covered in the report include BorgWarner Inc., BorgWarner Turbo Systems GmbH, Cummins Inc., Cummins Turbo Technologies Ltd., Honeywell Turbo Technologies, IHI Corporation, IHI Turbo America Company, Mitsubishi Heavy Industries Ltd., Turbodyne Technologies Inc., and Turbonetics Inc., among others.
The research report titled “Automotive Turbochargers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, service innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Automotive_Turbochargers_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/