The global Turbocharger market is anticipated to grow at a considerable CAGR of 8.3% during the forecast period. Turbocharger Market research report allows making important decision making essential for business growth. It helps key participants further in applying right business ideas to grow business and choose the right business doing strategy. Having complete understanding of what purchasers are looking for in the market and which factors can influence their purchasing decision greatly helps to make investment in the right product development and launch it accordingly. It is also crucial for major participants to understand the behavior of target customers to bring novel products into the market. This Turbocharger Market report serves as a blueprint to get thorough study of market competition, target audience and entire market.
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Globally the share of hybrid electric passenger cars has increased. The operating range of internal combustion engines for hybrid electric vehicles is increasing compared with conventional ones and turbochargers are also required to be developed to address- this limitation. The key players such as Mitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET) have developed high-efficiency compressors that meet the requirements of HEVs, vaned nozzle turbines designed for higher efficiency, ball bearings designed to reduce mechanical loss and low-cost turbine housing materials that are designed by using data science and have been proposed to automobile manufacturers. According to the US Environmental Protection Agency (EPA), in December 2023, hybrid vehicles reached a new high of 10.0% of all production. Strong and mild hybrid production grew, with mild hybrids accounting for 41.0% of overall hybrid production. The combined category of electric vehicles (EVs), plug-in hybrid vehicles (PHEVs), and fuel cell electric vehicles (FCVs) increased from 4.0% of production in the model year 2021 to 7.0% of production in the model year 2022 and are projected to reach 12.0% of production in the model year 2023.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Turbocharger Market Report Segment
By Industry
- Automotive
- Aerospace & Defense
- Marine
- Agriculture & Construction
By Technology
- Twin-Turbo Technology
- Variable Geometry Technology
- Wastegate Technology
By Sales Channel
- OEM
- Aftermarket
By Engine Type
- Diesel Engine
- Gasoline Engine
- Hybrid Engines
Global Turbocharger Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Turbocharger market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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