Demand for Fuel Efficient & Environment Friendly Vehicles Drives the Automotive Turbochargers Market, According to New Report by Global Industry Analysts, Inc.

Share Article

GIA announces the release of a comprehensive global report on Automotive Turbochargers markets. Global market for Automotive Turbochargers is projected to reach US$7.5 billion by 2018, primarily driven by robust demand for fuel efficient and environment friendly cars and subsequent trend towards engine downsizing, particularly in gasoline engine based cars. Robust demand from the US market also augurs well for the future of this market.

Automotive Turbochargers: A Global Strategic Business Report

Follow us on LinkedIn – Power boosting in vehicles remains an eternal quest for auto lovers, driving them towards the use of forced induction systems. Forced induction technique involves forcing more air into a combustion engine’s cylinder by pressurizing air, through several techniques, including Turbocharging or Supercharging. A turbocharger represents the oldest form of Forced Induction System primarily intended to increase efficiency of the vehicle engine. A turbocharger uses waste exhaust gas of an engine to spin a turbine, which in turn moves an air pump. Subsequently, the air pump forces compressed air into the engine’s cylinders thereby providing a power boost to the engine.

Given its high strung sensitivity to the health of overall automobile sector, the global automotive turbochargers market is running into fresh set of challenges in Europe, with the Sovereign debt crisis pushing the regional automotive industry into facing a new set of challenges. Macro themes affecting Europe include prolonging of the sovereign debt crisis as a result of the half-measures implemented to date in attempts to stave off the crisis, a dysfunctional financial system that is fuelling a slow-motion economic collapse, fears over reduced consumer spending and slower economic growth as a result of austerity measures. The industry during the year 2012 vacillated widely between optimism and fear, marring sentiments in an otherwise recovering automotive market.

Credit restrictions as a result of austerity measures implemented by the debt ridden governments, consumer indecisiveness, weakening consumer confidence as a result of fears over escalation in the severity of the debt crisis, resulted in slowing auto sales during the year. Weakness in auto sales was witnessed in France, Spain, Greece and Portugal during the year. Future downgrade in the outlook for auto production also cannot be ruled out, given the tumbling sales as evident by over 8% decline in new car registrations in the first half of 2012, and excess production capacities. The continuation of the trend will likely witness Europe carry over 32% excess production capacity than what the market demand can accommodate, into the upcoming years. With numerous factors still continuing to threaten automobile demand and production patterns in debt affected economies, sustained growth in the automotive turbochargers market is currently treading the tight rope, with market driving forces strained and wearied by the uncertainties ripping the fabric of the European continent.

Despite slow economic growth in the US, and continuing sovereign debt crisis in Europe, market players in the automotive turbochargers market remain optimistic of overall growth in the global market. As the automotive industry continues to be overturned 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 upcoming years. Turbocharging, as a technology, especially holds attractive potential, given its ability to meet strict fuel-efficiency standards, and emissions regulations. In conclusion, government policies for fuel conservation and environmental protection will re-emerge as primary growth drivers for turbochargers. Several auto giants will actively focus on integrating turbochargers especially in conjunction with small diesel engines.

Additionally, leading turbo manufacturers including Honeywell Turbo Technologies and BorgWarner Turbo Systems are actively focused on widening the application area of turbochargers to diesel engines in light duty trucks, in high-growth automobile markets such as the Asia-Pacific, and to a certain extent in North America. Continuous technology innovations that make turbochargers more reliable and efficient, in terms of thermal effectiveness and engine specific output, will additionally help in enhancing their preference among vehicle engineers.

As stated by the new market research report on Automotive Turbochargers, Europe represents the largest regional market worldwide. The US represents the fastest growing regional market for automotive turbochargers with unit sales in the region waxing at a CAGR of about 18.3% over the analysis period. Broadening of stringent environmental regulations especially on gasoline vehicles, which continues to have robust demand across the nation, and the resulting need for engine downsizing, are primarily driving demand for turbochargers in the nation. Low market penetration of turbo technologies in the nation also indicates a relatively large untapped market potential for turbochargers in the US.

Key global players profiled in the report include BorgWarner Inc., Cummins Turbo Technologies Ltd., Honeywell Turbo Technologies, IHI Corporation, 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 industry overview, end-use analysis, environmental safety, product introductions, recent industry activity, and profiles of market players worldwide. Market estimates and projections for global Automotive Turbochargers market are presented in terms of both volume (thousand units) and value (US$) for all major geographic markets such as the US, Canada, Japan, Europe, Asia-Pacific, 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 1300 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.

Follow us on LinkedIn

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Public Relations
Visit website