(EMAILWIRE.COM, March 27, 2019 ) According to the new market research report "Automotive Turbocharger Market by Technology (VGT, Wastegate, Electric), Material (Cast Iron, Aluminum), Ice & Hybrid Vehicle, Fuel Type, Off-Highway (Agricultural, Construction, Locomotive), Aftermarket, and Region - Global Forecast to 2025", published by MarketsandMarkets™, The automotive turbocharger market is expected to grow at a CAGR of 9.39% during the forecast period, in terms of value. The market in 2018 is estimated to be USD 16.87 billion and is projected to reach USD 31.61 billion by 2025.

The growth of the automotive turbocharger market is influenced by factors such as changing consumer preferences for greater power generating vehicles, stringent emission regulations in regions such as Europe and North America, and the upcoming regulation in Asian countries such as China and India.

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“Passenger car is estimated to have the fastest growing market for automotive turbocharger market, by vehicle type”

The Passenger Car segment is expected to be the fastest growing market. As per the International Organization of Motor Vehicle Manufacturers (OICA), the global production of passenger cars increased 20% from 2011 to 2016 from 59.9 million units to 73.4 million units. The installation of the turbocharger in diesel cars is very high, whereas the installation of gasoline turbochargers is growing at a significant rate. Considering the increasing vehicle production and the increasing installation of turbochargers, passenger cars will have the fastest growth rate in the turbochargers market.

“Gasoline turbocharger market is expected to have the fastest growth in automotive turbocharger market”

Asia Oceania and North America are the largest markets for gasoline passenger cars. In North America, the trend for diesel did pick up in passenger cars; however, due to the emission scandal and the additional cost required to make diesel cars compliant with stringent emission regulations, gasoline cars regained their popularity. However, the usage of turbochargers in petrol vehicles is a new trend and is fueled by the trends toward increasing fuel economy and reducing emissions. The installation rate of turbochargers in passenger cars is the highest in Europe and North America as strict emission regulations are in place in these regions, and OEMs will have to use turbochargers in order to comply with these regulations. Additionally, over the concerns of increasing fuel economy, OEMs have increased the use of turbochargers in gasoline vehicles. The cumulative effect of all these factors will drive the gasoline automotive turbocharger market.

“Asia Oceania to dominate the automotive turbocharger market”

Asia Oceania is estimated to be the largest market for automotive turbochargers. The automotive industry in the Asia Oceania region has been dynamic over the past few years and has seen an increase in the annual production of passenger and commercial vehicles. As a result, in recent years, Asia Oceania has emerged as a hub for automobile production. With the increasing vehicle production and increasing demand for greater power generating vehicles, the demand for turbocharger will also increase in the Asia Oceania turbocharger market. These factors combined, Asia Oceania is projected to be the largest automotive turbocharger market over the forecast period.

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Automotive turbocharger market consists of manufacturers such as Honeywell (US), BorgWarner (US), MHI (Japan), IHI (Japan), and Continental (Germany).