Automotive Turbocharger Market worth USD 22.9 billion by 2030 - Exclusive Report by MarketsandMarkets™

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Automotive Turbocharger Market Scope:

VGT Turbochargers are predicted to be the largest segment during the forecast period.

The VGT turbochargers offer several advantages, such as enhanced low-end torque, minimized turbo lag, and precise boost control for varied engine load and speed. Due to this, it is widely used across the globe to improve engine performance, increase fuel efficiency, and meet stringent emission regulations. Due to its versatility, the VGT turbochargers have widespread adoption across all vehicle types, from passenger and commercial vehicles to heavy-duty trucks and buses. Major players such as BorgWarner Inc., Garrett Motion Inc., and Cummins Turbo Technologies are investing in enhancing the performance of VGT technology by integrating sophisticated electronic control units (ECUs) for improved performance, efficiency, and reliability.

The passenger car segment is projected as the largest automotive turbocharger market.

Passenger cars hold the maximum market among all vehicle types for automotive turbocharges. The dominance is mainly due to the highest share of passenger cars globally, which was >70% in 2023, as per OICA statistics. Further, according to the Economic and Market Report (ACEA), global car production surged to 76 million units in 2023, marking a notable 10.2% rise compared to the previous year. Within this, the EU contributed 12.1 million units, reflecting an 11% rise, while the US production exceeded 7.6 million units, contributing to an 8.5% increase. China produced 25.3 million cars, a robust 9% growth, and Japan also witnessed significant growth, producing over 7.7 million cars, a substantial 17.4% increase compared to last year. Moreover, many OEMs have shifted from diesel to gasoline vehicles due to various factors, including stringent emissions regulations targeting diesel, elevated taxes on diesel fuel and vehicles to restrict demand, and the narrowing disparity in fuel efficiency and performance between gasoline and diesel models. Additionally, gasoline vehicles now commonly feature Gasoline Direct Injection (GDI) systems, enhancing fuel efficiency by up to 20% compared to traditional gasoline engines while delivering higher power and torque figures. Additionally, GDI technology has contributed to reducing emissions of pollutants like nitrogen oxides (NOx) and particulate matter (PM). The growing adoption of GDI engines has also led to increased usage of turbochargers. The integration of GDI and turbocharger technologies enables automakers to develop more efficient and powerful engines, consequently boosting the demand for gasoline engines. Europe leads the demand for gasoline cars in terms of higher adoption rate for turbocharged passenger cars, with over 50% of all passenger vehicles sold in Europe in 2022 featuring.

Asia Pacific is estimated to be the dominant region in the automotive turbocharger market.

Asia Pacific is the largest automotive market, and China, Japan, and India contribute >85% of the overall vehicle production in the region. The region also has a higher demand for smaller and compact cars, with more than 80% of the passenger cars running on gasoline. Further, the automotive turbocharger industry expansion in countries like China, India, South Korea, and Japan is primarily driven by growing demand for gasoline engines incorporating turbocharged gasoline direct injection (TGDI) technology. Among these, China has become a key market for automotive turbochargers in the Asia Pacific region, with TGDI engines followed by Japan, South Korea, and India. The stricter vehicle emission norms are driving the automakers in this region to adopt more fuel-efficient technologies. The Governments of major countries, India and China have made it mandatory for all automakers to comply with the BS6 Phase 2 and China 6 emission norms respectively. Under the China 6 standards, the PM emissions limit for gasoline-powered vehicles is 4.5 mg/km, while diesel vehicles must emit no more than 0.5 mg/km. In India, the diesel vehicle emission limits are lowered by 68% and the gasoline vehicle emissions are lowered by 25%. Thereby, the demand for GDI engines will be growing in this region which will drive the automotive turbocharger market.

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Key Market Players:

The major players in Automotive Turbocharger Companies include Toyota Motor Corporation (Japan), Honda Motor Co., Ltd. (Japan), The Hyundai Motor Company (South Korea), Mitsubishi Motors Corporation (Japan), and Nissan Motor Co. Ltd. (Japan)

Recent Developments

• In June 2023, Garrett Motion announced the completion of the expansion of its Wuhan Plant which included the installation of its first high-speed automated production line for advanced variable nozzle technology (VNT) used in turbo-passenger vehicles.
• In April 2023, Garrett Motion Inc. unveiled its latest turbocharger and e-mobility technologies at Auto Shanghai 2023. Its innovative E-turbos enhance power and fuel efficiency, enabling vehicles to achieve the performance levels of larger engines from previous generations while utilizing increasingly compact engines.
• In June 2023, IHI was honored with a supplier commendation in the form of a letter of appreciation from Yanmar Global Experts for its commendable efforts and contributions toward ensuring the stable supply of turbochargers throughout 2022. The award was focused on the adoption of new turbochargers and the company's role in facilitating consistent procurement, with particular emphasis placed on two key aspects that received high praise.
• In March 2022, BMTS showcased its Turbo technology at the Vienna Motor Symposium 2022. Its intention was to address the increasing demand for mobility, meet climate targets, and ensure future affordability in the mobility sector.
• In September 2022, Garrett Motion showcased E-Turbos at the IAA Transportation Exhibit. The plan was to promote the use of E-Turbos in vehicles and focus on the improvements that E-Turbos have compared to traditional turbochargers.

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