DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Automotive Turbocharger Market - Growth, Trends and Forecasts(2016 - 2021)" report to their offering.
The global automotive turbocharger market is likely to grow at a steady pace with a CAGR of 10.06% during the forecast period.
Freight companies and fleet owners have also moved toward diesel LCVs that have a low average-emission rate. They are trying to downsize their fleet to smaller vehicles and are installing turbochargers in their engines to increase fuel efficiency. The disadvantage of the turbocharger lies to its increased lag in the activation of turbocharger, which is also coined popularly as turbo lag. Turbochargers are generally expensive in nature due to the requirement of stronger and high-efficient components.
They also generate a considerable amount of heat, for which the cooling systems are most commonly required. The expensive nature of turbochargers along with the increasing focus on BEVs in the European market restrain market growth in this region. However, the advent of electric turbocharger, would add a significant growth dimension in the forecast period.
Among the engine type, turbochargers for diesel vehicles comprise the majority of the market. The market for customised turbocharger, would drive the demand for the turbocharger end-consumer market. Borgwarner, Cummins, Garnett are some of the leading vendors in this market.
The market is segmented on the basis of
- Vehicle type (SUV and Crossovers, Sedans, Premium Luxury, Commercial Vehicles)
- Engine type (Diesel, Gasoline)
End consumers (OEMs, Aftermarket)
- Garnett Technologies
- Magnum Performance Turbos
- Mitsubishi Heavy Industries
- Precision Turbo and Engine
- Turbo Engineering
- Visteon Corp
For more information about this report visit http://www.researchandmarkets.com/research/zcj9xs/global_automotive