Commercial Vehicle Turbochargers Market Benchmarking Future Growth Potential

Commercial Vehicle Turbochargers Market Size, Share, Trend Analysis Report by Technology, by Material:Global Opportunity Analysis & Industry Forecast, 2022-2032

NEW CASTLE, DELAWARE, UNITED STATES, January 24, 2024 /EINPresswire.com/ — A turbocharger is a type of forced induction system used to increase the power and efficiency of an internal combustion engine. It uses exhaust gases from the engine to spin a turbine, which then compresses the air entering the engine, increasing its power and efficiency. Major components of a turbocharger include a turbine wheel, compressor wheel, and shaft to connect the turbine and compressor.
The growth of the global commercial vehicle turbochargers market is mainly attributed to the growing demand for commercial vehicles, increasing vehicle production, and stringent emission norms. The increasing demand for commercial vehicles is mainly due to the ever-increasing demand for goods and other transportation-related services.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 – https://www.alliedmarketresearch.com/request-toc-and-sample/A47928

Moreover, the increasing demand for fuel-efficient and low-emission vehicles is a major factor driving the growth of the market. Governments globally are increasingly implementing stringent emission norms to reduce the emission of carbon dioxide (CO2) and other harmful pollutants. This has led to the increased adoption of turbochargers in commercial vehicles to meet the emission norms. Global CO2 emissions are predicted to grow on average by 1.5%, annually, from 2020-2025. Emissions from Asian countries could increase by 2.3% over this period. Also, carbon emissions are returning to the 2019 level, after dropping by 5-6% during the pandemic, due to reduced industrial and transportation activities, across the globe.

Hence, the increased focus towards environmental sustainability is expected to drive the demand for commercial vehicle turbochargers market during the forecast period.
However, the factors such as increasing demand for electric vehicles, volatile raw material prices, and high cost of turbochargers are expected to hinder the market growth during the forecast period.
Some of the major trends in the global commercial vehicle turbochargers market includes adoption of turbocharged gasoline direct injection engines, and increasing use of variable geometry turbochargers (VGTs).

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐔𝐬𝐞 𝐨𝐟 𝐕𝐚𝐫𝐢𝐚𝐛𝐥𝐞 𝐆𝐞𝐨𝐦𝐞𝐭𝐫𝐲 𝐓𝐮𝐫𝐛𝐨𝐜𝐡𝐚𝐫𝐠𝐞𝐫𝐬
There are mainly two turbochargers namely fixed geometry turbocharger (FGT) and VGT. A FGT is an automotive turbocharger design that uses a fixed compressor and turbine wheel geometry. Whereas VGT, also known as variable-nozzle turbines, is a system for internal combustion engines designed to allow the effective aspect ratio of the turbo to be changed as conditions change, allowing for better control of the trade-off between response time and maximum power output. It is used on many modern diesel engines, such as those in large light-duty, medium-duty, and heavy-duty trucks, as well as modern passenger cars. By changing the aspect ratio of the turbocharger at different engine speeds, VGT provides improved engine response and performance, as well as better fuel economy and lower emissions.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 – https://www.alliedmarketresearch.com/commercial-vehicle-turbochargers-market/purchase-options

𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰
By technology: The commercial vehicle turbochargers market is categorized by technology: twin-turbo technology, wastegate technology, and variable geometry technology.
By material: The commercial vehicle turbochargers market is segmented by material namely, cast iron, aluminum, and others.
By fuel type: The commercial vehicle turbochargers market is divided by fuel type: diesel and gasoline.
By vehicle type: The commercial vehicle turbochargers market is divided by vehicle type: light commercial vehicles, and heavy commercial vehicles.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰
Asia-Pacific has a considerable market share in commercial vehicle turbochargers market, due to extensive demand of automobiles and the presence of emerging economies. According to The International Organization of Motor Vehicle Manufacturers, the region accounted for around 30% share in total commercial vehicle sales in the year 2021. Hence it is the most opportunistic region for stakeholders to enhance their product portfolio and geographical presence. For instance, in December 2022, Turbo Tec Remanufacturing established its first joint venture factory Turbo Auto Parts Remanufacturing (Hebei) Co. Ltd. in China, to meet the demand for regenerated turbochargers in China.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬
Competitive analysis and profiles of the major players in commercial vehicle turbochargers market, such as BorgWarner Inc., Bosch Mahle Turbo Systems, Continental AG, Cummins Inc., Gale Banks Engineering, Garrett Motion Inc., IHI Corporation, Mitsubishi Heavy Industries, Ltd., Precision Turbo and Engine, and Turbo Dynamics Ltd. are included in the report. This section includes the key financial metrics, operating segmentation, business description, geographical coverage, and recent developments by the company in the area of commercial vehicle turbochargers market. There are some other important players in the market such as ABB Inc., Eaton Corporation plc, Magnum Performance Turbos, Wabtec Corporation, and others.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 – https://www.alliedmarketresearch.com/purchase-enquiry/A47928

With the increased focus on safety, the market is becoming increasingly competitive. Companies are vying for market share, creating a highly competitive landscape. This has led to competitive prices, as well as an increase in the number of features and services being offered. The companies are competing on various grounds like price, geographical presence, automation, innovation, and others and implementing different strategies like acquisition, new product development to expand their businesses. For instance, in October 2021, Garrett Motion Inc., a Switzerland-based turbocharger manufacturing company bagged a 2021 Automotive News PACE Award for its Electric Turbo (E-Turbo) technology. Its innovative e-turbo technology is suitable for both light and heavy commercial vehicles with all fuel types such as diesel, gasoline, and compressed natural gas.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
Honeywell International Inc, Turbo Dynamics Ltd, Cummins Inc., Heavy commercial vehicles, Precision Turbo and Engine, BorgWarner Inc., Bosch Mahle Turbo Systems, Mitsubishi Heavy Industries, Ltd., IHI Corporation, Gale Banks Engineering

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 –
𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐅𝐥𝐮𝐢𝐝 𝐋𝐮𝐛𝐫𝐢𝐜𝐚𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.alliedmarketresearch.com/electric-vehicle-fluid-lubricants-market-A11723

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐇𝐞𝐚𝐭 𝐒𝐡𝐢𝐞𝐥𝐝 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.alliedmarketresearch.com/automotive-heat-shield-market-A11739

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐀𝐢𝐫 𝐈𝐧𝐭𝐚𝐤𝐞 𝐌𝐚𝐧𝐢𝐟𝐨𝐥𝐝 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.alliedmarketresearch.com/automotive-air-intake-manifold-market-A09122

David Correa
Allied Market Research
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