Automotive turbochargers use the exhaust gas to drive a turbine, which leads to more fuel burning. Automotive turbochargers help in achieving better fuel efficiency by increasing the pressure of the air coming in the engine.
Furthermore, the global market for automotive. The market wants to reach a value of US $ 9,589.9 Mn while growing with a YoY growth rate of 6.6% as compared to 2017. Furthermore, the global demand for Automotive Turbochargers therefore wants to be downsized by the implementation of strict fuel economy standards and growing demand for engine downsizing for optimum vehicle performance.
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Automotive turbochargers help in increasing the power output of engines. As compared to naturally charged atmospheric pressure engines, automotive turbochargers are more efficient and eco-friendly. Furthermore, automotive turbochargers producing companies are working closely with their customers through partnership programs on fuel economy, engine downsizing and emission control. This will further lead to significant benefits, such as enhanced safety, lower prices, greener solutions and more comfortable drives.
In addition, the high-performance vehicles (trucks, buses, and coaches), light-duty vehicles (cars and vans) and other non-road mobile machinery will augment the growth of automotive turbochargers during the forecast period. The significant increase in the application of automotive turbochargers in internal combustion engines and significant installations across diesel and high performance spark-ignition engines is thus likely to propel the growth of the automotive turbochargers market over the forecast period.
In the recent past, the Automotive Turbochargers market has witnessed significant developments from the competition perspective. In the global Automotive Automotive Turbochargers market.
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Based on actuators, the electric segment is expected to remain dominant in the global automotive industry. Turbochargers market volume 70.6% share by the end of 2028.
69.4% of the revenue by 2028 end. Based on product type, the variable geometry segment is expected to remain the dominant segment in the global automotive turbocharger market. On the other hand, twin turbo technology is growing in the global automotive turbocharger market during the forecast period.
In 2017, Europe was the most attractive region in the global automotive industry. Turbochargers market and accounted for nearly 32.4% of the global market share. Further, at the forefront in terms of automotive Turbochargers production and consumption, the European region is pegged to control the global Automotive Turbocharger market in the future as well.
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Honeywell International Inc. (Garret Advancing Motion), BorgWarner Inc., IHI Corporation, Cummins Inc., Bosch Mahle Turbo Systems GmbH & Co., Eaton Corporation plc, Weifang FuYuan Turbochargers Co., Ltd., Mitsubishi Heavy Industries, are some of the key players involved in the global Automotive Turbochargers market.