Dublin, Nov. 27, 2014 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/52qhjt/turbocharger) has announced the addition of the "Turbocharger Market by Vehicle Type, Fuel Type, Technology, & Region - Industry Trends & Forecasts to 2019" report to their offering.
The turbocharger market is estimated to reach $18.1 Billion by 2019, with a projected CAGR of 10.12%, indicating the potential of fuel-efficient technologies.
Turbochargers are forced induction systems where the air flowing into the engine is compressed by these turbochargers. The major advantage of compressing the air is that it lets the engine accumulate more air into a cylinder of the engine. More air, in turn, accumulates more fuel into the cylinder. With more fuel undergoing explosion inside the engine, more power is generated which gives the required boost to the engine.
These turbochargers are used in both diesel and gasoline driven passenger cars and commercial vehicles. Variable geometry turbine (VGT)/variable nozzle turbine (VNT), Wastegate, and Twin-turbo are the three prominent technologies used in automotive turbocharger.VGT/VNT turbochargers are mainly used in passenger cars due to its excellent performance in low displacement engines, whereas wastegate turbochargers are used in commercial vehicle applications as it offers fuel efficiency over engine performance.
It is estimated that Europe will be the largest market for turbocharger with a market share by volume of 43.8% in 2014. It is followed by Asia-Oceania with a market share of 37.4%. The market share by volume of North America in 2014 is estimated to be about 14.7% as the penetration of turbocharger is competitively low in this region. It is projected that the diesel turbocharger segment will grow at a higher rate as compared to gasoline turbocharger segment.
The growth in demand for turbocharger is mainly due to the implementation of emission norms which limits the emission of harmful gases such as Carbon Dioxide(CO2) and Nitrous Oxide(NOx) from vehicles. Another factor which has driven the demand is downsizing of engines owing to the need for fuel-efficiency in the wake of global rise in fuel prices.
The global turbocharger market is dominated by few top players such as Honeywell International Inc. (U.S.), BorgWarner Inc (U.S.), Mitsubishi Heavy Industries Ltd. (Japan), IHI Corporation (Japan) and Cummins Inc (U.S.).These companies collectively account for a major share of the turbocharger market. The other noteworthy players in this industry are Continental AG (Germany), Bosch Mahle Turbo Systems GmbH & Co. KG, FuYuan Turbochargers Co., Ltd (China) and Turbo Energy Ltd. (India).
This report covers the market for turbochargers based on Vehicle Type (Passenger Car, LCV & HCV), fuel type (gasoline & diesel), technology (VNT/VGT, wastegate& twin-turbo), and region (Asia-Oceania, Europe, North America and Rest of the World (ROW)). All the market estimates given are in terms of volume (000 Units) and value ($million).
Key Topics Covered:
2 Executive Summary
3 Premium Insights
4 Market Overview
5 Technology Overview
6 Automotive Turbocharger Market, By Region
7 Automotive Turbocharger Market, By Vehicle Type
8 Turbocharger Market, By Technology
9 Competitive Landscape
10 Company Profiles
- Bosch Mahle Turbo Systems GMBH & Co
- IHI Corporation
- Mitsubishi Heavy Industries
- Turbo Energy
For more information visit http://www.researchandmarkets.com/research/52qhjt/turbocharger
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Source:Research and Markets