Automotive Turbocharger Market Projected to Surpass $ 27 Bn by 2026

Automotive Turbocharger Market Projected to Surpass $ 27 Bn by 2026

Automotive Turbocharger Market Projected to Surpass $ 27 Bn by 2026
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Variable Geometry Turbochargers are expected to gain momentum in the automotive turbocharger market

 The automotive industry is increasingly focussing on tightening emission standards and such a scenario has paved the way for OEMs to ramp up their focus on turbo uptake in their bid to boost performance and efficiency of passenger cars and trucks. According to a report released by Global Market Insights, the turbo technology is expected to drive global demand for lighter vehicles, thus bolstering driveability, enhanced fuel efficiency and cost-effective emission controls.

According to the Global Market Insights report, OEMs are witnessing increased traction from turbochargers as the latter can propel thermal efficiency and power density. Further, there is a growing trend for manufacturing a lightweight turbocharger turbine wheel that can keep up with the performance of the automotive component as well as have the innate ability to be augmented to larger turbocharger applications, the report revealed.

The industry report brought to the fore how novel designs in a bid to boost efficiency and transient response, are being adopted to reap the benefits of innovative manufacturing techniques, including additive manufacturing and new material approaches. A majority of the turbochargers boost engine efficiency by leveraging the energy of exhaust gases to fuel the compressor, the report noted.

The Global Market Insights report stated that variable geometry turbochargers (VGTs) will find increased usage over the next five years. This increased usage is on the account of the fact that VGTs enable an effective aspect ratio (A: R) of the turbo (that can be modified as conditions change), have a minimum amount of lag, are efficient at higher speeds; and have a low boost threshold. VGTs are prevalently deployed on diesel engines as they do not need a waste gate and have lower exhaust temperature, the report stated.

The VGT technology is poised to witness substantial investments going forward given the fact that VGTs enhance vehicle accelerations without having to depend on turbines with high pumping loss at high engine speeds. Further, since turbos are emerging as an invaluable green technology by enhancing fuel efficiency through engine downsizing, automotive turbocharger manufacturers of heavy commercial vehicles, light commercial vehicles and passenger commercial vehicles are heavily investing in the ultra-sophisticated technology. OEMs are excited about turbochargers as the rise in turbo-equipped engines has bolstered the prominence of turbochargers.

OEMs are counting a lot on turbochargers to provide them a competitive edge in the industry landscape by enhancing fuel-efficiency and boosting vehicle performance. Companies such as Honeywell, BMTS Technology, and Mitsubishi are focussing on expanding their portfolios by investing heavily on R&D activities to reduce emission, improve fuel economy, improve performance and boost torque response.

The availability of turbodiesel passenger vehicles will be a new industry trend as advanced turbo systems have been enhancing engine downsizing. It is worth mentioning that consumers in the US are evincing a preference for a turbocharged vehicle – the region is expected to witness an influx of investments as rigorous CAFE standards mandate auto manufacturers to improve fuel standards, which effectively means that this engine technology will gain momentum going forward, the report noted.

On the APAC front, stakeholders are also expected to boost their value proposition - countries such as China have imposed a heavy tax on cars with biggest engines. The report said in the Indian context, companies are also rolling out turbo charger technologies as popularity of engine downsizing that hardly sacrifices performance has surged. The APAC region is likely to remain at the forefront of the automotive turbocharger market, the report revealed.

According to Global Market Insights, the automotive turbocharger market is likely to grow at a steady pace as demand for fuel efficiency has surged by leaps and bounds. The auto industry globally is witnessing an increasing trend for VGTs as OEMs continue to inject substantial R&D investments. Global Market Insights has projected the automotive turbocharger market to surpass the $ 27 bn mark by 2026.