Automotive Turbocharger Market to hit the coveted 24.5-billion-dollar frontier by 2024
Europe held the largest automotive turbocharger market share and is projected to continue its dominance over the study timeframe.
Selbyville, United States – June 27, 2019 /MarketersMedia/ —
The Automotive Turbocharger Market is set to grow from its current market value of more than $13 billion to over $24.5 billion by 2024; as reported in the latest study by Global Market Insights, Inc.
Increasing demand for medium sized vehicles with lower capacity engines and efficient performance is driving the turbocharger market share over the forecast timeframe. The automobile industry is undergoing technological advancements to provide higher power with reduced engine size. The ability of the product to reduce fuel consumption and emit lower carbon emissions will induce a positive effect on the automotive turbocharger market place.
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Supporting government regulations are playing a major role in boosting the automotive turbocharger market place till 2024. For instance, the sub 4-meter rule in India enables automobile manufacturers to offer a wide range of cars including hatchbacks, sedans, SUVs, and crossovers under length of four meters for benefiting from reduced tax, thereby supporting the industry share over the projected timeframe.
PCVs accounted for a revenue share of around 60% in 2017. This growth is attributed to the increasing sales of SUVs across the globe. Shifting trend towards buying compact SUVs and crossovers owing to smaller footprint along with superior power and ruggedness are boosting the segment share till 2024.
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Diesel accounted at more than 60% of the overall volume share in 2017. This dominance is attributed to the availability of multiple diesel vehicle models fitted with turbochargers across a diversified price range. Additionally, the improved fuel efficiency along with lower fuel cost compared to its counterparts strengthens the business growth. The availability of higher torque at lower RPM range along with smoother uphill driving experience plays a significant role over the study timeframe.
Europe automotive turbochargers market will grow considerably over the study timeframe. This can be credited to the presence of major automobile companies adopting turbocharging technologies across their product portfolio. For instance, Volvo is working on an innovative engine technology that combines turbocharging and supercharging technologies for providing superior power and torque.
Browse key industry insights spread across 360 pages with 582 market data tables & 17 figures & charts from the report, “Automotive Turbocharger Market Size By Vehicle (PCV, LCV, HCV), By Technology (VGT/VNT, Wastegate, Twin Turbo), By Fuel (Gasoline, Diesel), By Distribution Channel (OEM, Aftermarket) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, Netherlands, China, Japan, India, South Korea, Australia, Thailand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-turbocharger-market
Glimpse of Table of Content (ToC)
Chapter 4 Automotive Turbocharger Market, By Vehicle
4.1 Automotive turbochargers market share by vehicle, 2017 & 2024
4.2 PCV
4.2.1 Market estimates and forecast, 2013 – 2024, (Thousand units) (USD Million)
4.2.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand units) (USD Million)
4.3 LCV
4.3.1 Market estimates and forecast, 2013 – 2024, (Thousand units) (USD Million)
4.3.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand units) (USD Million)
4.4 HCV
4.4.1 Market estimates and forecast, 2013 – 2024, (Thousand units) (USD Million)
4.4.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand units) (USD Million)
Browse Full TOC @ https://www.gminsights.com/toc/detail/automotive-turbocharger-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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