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Increasing regulations on emissions and initiatives by various manufacturers to reduce emissions will drive the market for automotive turbochargers.

Wilmington, Delaware, United States, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Global automotive turbocharger sales were worth US$ 10.4 billion in 2020. The industry is expected to expand at a 7.6% CAGR between 2021 and 2031. Towards the end of 2031, the global automotive turbocharger market is predicted to reach US$ 23.28 billion.

As emissions standards worldwide become stricter, automakers increasingly adopt technologies that improve fuel economy and reduce emissions. By enhancing the performance of smaller engines, turbochargers contribute to these goals.

Turbochargers are becoming more popular as engines downsize without sacrificing performance. With turbocharging, an engine can be smaller, more fuel efficient, and produce more power without sacrificing power. In hybrids and electric cars, turbochargers are being used to boost the power of downsized engines because hybrids and electric cars are gaining traction in the automotive industry.

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Key Findings of Market Report

• Automotive turbocharger systems are expected to grow in demand as hybrid engines become more prevalent.

• Sales of passenger vehicles are expected to drive the demand for automotive turbochargers.

• E-Turbochargers drive automotive turbocharger demand based on operation segment.

• The twin turbo segment held more than 25% of the market share in 2020.

• Based on engine type, the gasoline engine segment is expected to hold a significant share of the global automotive turbocharger market.

Global Automotive Turbocharger Market: Growth Drivers

Turbochargers have become crucial in boosting the fuel efficiency of internal combustion engines, particularly in response to stringent emission regulations that compel automakers to enhance engine performance. By leveraging turbocharging, manufacturers can downsize engines while maintaining output, thus improving fuel efficiency and aiding in meeting emission standards.

• The adoption of turbocharging technology allows engines to generate the same power as larger ones but in a more compact size, thereby contributing to better fuel economy and emission control. The utilization of turbochargers also significantly enhances both the power and torque of vehicles, particularly in sports cars and high-performance vehicles, leading to improved acceleration.

• In recent years, turbocharged engines have gained traction across various vehicle segments, especially in high-performance, premium, and modern vehicles. Advancements in turbocharger technology, such as twin scroll and variable geometry turbochargers, have played a pivotal role in this widespread acceptance among automobile manufacturers.

• Furthermore, the integration of hybrid systems and electric turbochargers has been instrumental in enhancing efficiency and performance. Electrically assisted turbochargers help mitigate turbo lag, contributing to improved driving dynamics.

• Turbocharged engines are predominantly found in performance-oriented and fuel-efficient vehicles. With growing environmental concerns about fuel consumption, consumers are increasingly aware of the benefits of fuel-efficient vehicles, which offer greater power while consuming less fuel.

• Importantly, the incorporation of turbocharging technology in vehicles has become more affordable due to advancements, making it a pivotal factor in its widespread acceptance among manufacturers and consumers alike.