Automotive Turbochargers Market Trends, Growth & Forecast, 2017 – 2024

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Automotive Turbochargers Market Trends, Growth
Forecast, 2017 - 2024
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Key Insights from Automotive Turbochargers Market

• Given how effectively turbochargers enable
  automobile manufacturers to use smaller engines
  without compromising on the horsepower, major
  automakers are turning to produce more models
  with turbocharger engines, stimulating automotive
  turbocharger market share. Cadillac launching its
  twin-turbo V-8 engine in its CT6 V-Sport is a
  recent instance validating the aforesaid fact.
• Speaking along similar lines, it is prudent to
  mention that automotive behemoth Porsche had also
  recently brought forth the Turbo version of the
  Panamera with 550 horsepower to automotive
  turbocharger market. It is thus rather evident
  that turbochargers would bring about a paradigm
  shift in engine technology used in the automotive
  industry.
• Hailed as a potential competitor to the electric
  vehicle sector, it would seem as if automotive
  turbocharger market is here to stay, especially
  considering its modest valuation of over USD 11
  billion in 2016.

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Continued...

• Environmental concerns have led to automotive
  manufacturers striving to innovate novel methods
  of trying to bring down CO2 levels caused by
  automotive fumes. This has, on one hand, given
  rise to a completely new breed of automobiles
  the acclaimed EVs. On the other hand, internal
  combustion engine vehicles have been increasingly
  modified to weigh less and be more fuel
  efficient.
• As per statistics, turbochargers can raise fuel
  efficiency by 45 - this alone has led to major
  European automobile owners opting for this
  component. A diesel engine fitted with a
  turbocharger can apparently go 40 further and a
  gasoline engine 20 further on a liter of fuel.
• OEMs are renowned to use turbochargers for
  creating some of the most fuel-efficient vehicles
  across major geographies. For instance, the
  turbocharger fitted 2011 Chevy Cruz of US
  delivers a 42 mpg on the highway supposedly a
  leading rating by the EPA. In Europe, the
  turbocharged 2010 Volkswagen Polo held the
  position for the most fuel-efficient car in the
  world with worlds first turbo gasoline-electric
  hybrid BMW X6 ActiveHybrid.

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U.S. Automotive Turbocharger Market, By System,
2016 2024, (Thousand Units)

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Major Companies in Automotive Turbochargers
Market

• Honeywell
• Federal-Mogul
• BorgWarner
• Mitsubishi Heavy Industries
• Cummins Turbo Technologies
• Weifang Fuyuan
• Montupet
• IHI Corporation

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Regional Insights in Automotive Turbochargers
Market

• Regionally, it would be prudent to mention that
  emission laws have made a remarkable contribution
  to the growth of the automotive turbocharger
  market. Europe in particular, has evidenced a
  rise in the stringency of emission laws, on
  account of which Europe automotive turbocharger
  market is expected to hold a dominant position
  over 2017-2024.
• Automotive turbocharger market has picked up
  commendable pace in APAC in the recent years.
  This growth can be attributed principally to the
  proliferating demand for automobiles in countries
  like China, India, Japan, and South Korea. Not to
  mention, the fuel efficiency this technology
  provides and the strict emission standards
  enforced on automakers are also contributing
  factors. For instance, the phase 4 passenger car
  fuel consumption standard passed in China
  mandates all passenger cars to increase fuel
  efficiency and aims at reducing oil consumption
  by 348 million barrels approximately. It also
  intends to reduce carbon dioxide emissions by
  about 149 million metric tons by 2030.

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