Turbocharged engines apart from automotive application are also used in applications such as marine, stationary power plants, other stationary generator sets, and off-highway vehicles. The increasing usage of automotive turbochargers has made the automotive manufacturers to consider it as a stock unit along with the engine while manufacturing vehicles.
Europe expected to remain largest market for the next five years
The global automotive turbochargers market volume is expected to reach 39.45 million units converting into total revenue of
by 2017. In the year 2012,
accounted for nearly half of automotive turbochargers market volume followed by
. Diesel turbochargers find their prominent usage in passenger cars as well as commercial vehicles. European region is the largest market for diesel passenger cars with Asian and North American region slowly developing demand for diesel passenger cars thus representing potential markets in the nearing future.
Gasoline Turbochargers represent high growth segment
The major automotive markets in
have high preference for gasoline engines in passenger car segment. Stable economic conditions supported by rising income levels of individuals in
region are driving demand for automobiles. Furthermore, there has been a quick acceptance for turbochargers in gasoline powered engines. This presents high growth opportunity for manufacturers in these regions/countries.
Small turbocharged engines gaining attention from automobile manufacturers
Preference of smaller efficient engines, increasing production of passenger vehicles, and strict carbon di-oxide (CO2) and nitrous oxide (NOX) emission norms are the major reasons behind the growth of automotive turbochargers market. Low preference of diesel passenger cars in
and weak penetration of turbochargers in gasoline engines are the restraining factors hindering the growth of the market. The key issues affecting the market are the usage of fraudulent products; preference for gasoline passenger cars in certain regions; and progressive shift towards electrically assisted turbochargers. The turbocharger manufacturers are collaborating with distributors and automotive manufacturers to address specific requirements of end-users.