Consainsights logo
Reports > Automotive And Mobility > Automotive Turbocharger Market Report

Automotive Turbocharger Market Size, Share, Industry Trends and Forecast to 2033

This report provides a comprehensive analysis of the Automotive Turbocharger market from 2023 to 2033, covering market size, growth trends, regional insights, competitive landscape, and key technological advancements.

Metric Value
Study Period 2023 - 2033
2023 Market Size $8.00 Billion
CAGR (2023-2033) 6.8%
2033 Market Size $15.72 Billion
Top Companies Garrett Motion Inc., BorgWarner Inc., Honeywell International Inc., MHI Turbocharger
Last Modified Date 15 Nov 2024

Automotive Turbocharger Market Report (2023 - 2033)

Automotive Turbocharger Market Overview

The automotive turbocharger industry is characterized by a diverse range of products and technologies. Key drivers influencing this market include growing automotive production, advancements in turbocharger technology, and increasing fuel prices prompting consumers towards more fuel-efficient vehicles. Moreover, the industry is seeing a marked shift toward electric and variable geometry turbochargers due to their potential for improved efficiency and performance. Competitive dynamics indicate a trend towards consolidation, as major players acquire smaller firms to enhance their product portfolios and technological capabilities.

What is the Market Size & CAGR of Automotive Turbocharger market in 2023?

In 2023, the Automotive Turbocharger market is valued at approximately USD 12.6 billion and is projected to grow significantly, with a CAGR of about 7.4% anticipated between 2023 and 2033. This robust growth can be attributed to rising vehicle production across the globe, increased shift towards smaller displacement engines, and the growing trend of turbocharging in passenger as well as commercial vehicles to comply with regulations on fuel efficiency and emissions.

Automotive Turbocharger Industry Analysis

The automotive turbocharger industry is characterized by a diverse range of products and technologies. Key drivers influencing this market include growing automotive production, advancements in turbocharger technology, and increasing fuel prices prompting consumers towards more fuel-efficient vehicles. Moreover, the industry is seeing a marked shift toward electric and variable geometry turbochargers due to their potential for improved efficiency and performance. Competitive dynamics indicate a trend towards consolidation, as major players acquire smaller firms to enhance their product portfolios and technological capabilities.

Automotive Turbocharger Market Segmentation and Scope

The Automotive Turbocharger market is primarily segmented by type (fixed, variable, and electric), fuel type (gasoline, diesel), application (passenger cars, commercial vehicles), and sales channels (OEM and aftermarket). Each segment plays an important role in defining market dynamics. Fixed geometry turbochargers dominate the market due to their cost-effectiveness, while variable geometry turbochargers are gaining traction due to their superior performance capabilities in various engine conditions. Additionally, the aftermarket segment is witnessing growth driven by increased replacement of turbochargers in older vehicle models.

Request a custom research report for industry.

Automotive Turbocharger Market Analysis Report by Region

Europe Automotive Turbocharger Market Report:

Europe shows a promising market growth from USD 2.62 billion in 2023 to USD 5.14 billion by 2033, driven by the region’s focus on sustainability and fuel efficiency, pushing manufacturers to adopt turbochargers in new vehicle models.

Asia Pacific Automotive Turbocharger Market Report:

The Asia-Pacific region, valued at USD 1.46 billion in 2023 and expected to reach USD 2.87 billion by 2033, is the fastest-growing market. Rapid industrialization, urbanization, and rising disposable income drive a surge in vehicle production and sales, leading to increased demand for turbochargers.

North America Automotive Turbocharger Market Report:

The North American market, with a valuation of USD 2.75 billion in 2023 and a projection of USD 5.40 billion by 2033, is characterized by high consumer demand for performance vehicles and stringent emissions legislation, enhancing the need for turbocharger technology.

South America Automotive Turbocharger Market Report:

In South America, the turbocharger market is valued at USD 0.25 billion in 2023 and projected to grow to USD 0.50 billion by 2033. Increased automotive manufacturing and a growing middle class are propelling market growth in this region.

Middle East & Africa Automotive Turbocharger Market Report:

In the Middle East and Africa, the turbocharger market is expected to rise from USD 0.92 billion in 2023 to USD 1.81 billion by 2033, supported by increasing automotive manufacturing and an uptick in vehicle registrations in urban areas.

Request a custom research report for industry.

Automotive Turbocharger Market Analysis By Type

Global Automotive Turbocharger Market, By Type Market Analysis (2023 - 2033)

The segment analysis shows that the fixed geometry turbochargers dominate with a robust market size of USD 4.99 billion in 2023, projected to reach USD 9.81 billion by 2033, holding a market share of 62.38%. Variable geometry turbochargers follow with USD 2.07 billion in 2023, expected to climb to USD 4.06 billion by 2033. Electric turbochargers are emerging, valued at USD 0.94 billion in 2023, growing to USD 1.85 billion by 2033 as technology evolves.

Automotive Turbocharger Market Analysis By Fuel Type

Global Automotive Turbocharger Market, By Fuel Type Market Analysis (2023 - 2033)

Gasoline fuel types lead the Automotive Turbocharger market with USD 4.99 billion in 2023, projected to reach USD 9.81 billion by 2033, maintaining a market share of 62.38%. Diesel turbochargers are projected to grow from USD 2.07 billion in 2023 to USD 4.06 billion by 2033, capitalizing on the demand in commercial vehicle sectors. Alternative Fuel applications, while smaller, show promising growth from USD 0.94 billion to USD 1.85 billion.

Automotive Turbocharger Market Analysis By Application

Global Automotive Turbocharger Market, By Application Market Analysis (2023 - 2033)

The passenger cars segment is leading the market with a size of USD 4.99 billion in 2023, expected to grow to USD 9.81 billion by 2033, comprising a share of 62.38%. Commercial vehicles also show significant growth prospects, moving from USD 2.07 billion to USD 4.06 billion, while high-performance vehicles, though smaller, are expected to rise from USD 0.94 billion to USD 1.85 billion.

Automotive Turbocharger Market Analysis By Sales Channel

Global Automotive Turbocharger Market, By Sales Channel Market Analysis (2023 - 2033)

The OEM segment dominates the Automotive Turbocharger market with USD 6.71 billion in 2023, expected to grow to USD 13.19 billion by 2033, holding an 83.91% market share. The aftermarket sector, while smaller, shows growth from USD 1.29 billion to USD 2.53 billion, indicating a thriving sector for replacements and enhancements.

Automotive Turbocharger Market Analysis By Technology

Global Automotive Turbocharger Market, By Technology Market Analysis (2023 - 2033)

Both mechanical and electronic turbocharging technologies are key to the driving market growth. Mechanical turbocharging is market-leading, valued at USD 6.71 billion in 2023, projected to reach USD 13.19 billion by 2033, representing a share of 83.91%. Electronic turbocharging, while smaller, is expected to grow from USD 1.29 billion to USD 2.53 billion, showcasing strong potential as technological advancements continue to develop.

Automotive Turbocharger Market Trends and Future Forecast

The Automotive Turbocharger market is expected to witness continuous technological advancements, particularly with the integration of electronic and hybrid turbocharging systems. As manufacturers seek to balance performance with regulatory compliance, investment in R&D for turbocharging efficiency will grow. Additionally, with the accelerating trend of electric vehicle adoption, new designs and systems will emerge to meet the evolving demands of the automotive industry. Challenges such as supply chain issues and fluctuating raw material costs may pose risks, yet the ongoing transition towards environmentally friendly technologies will sustain market buoyancy through 2033.

Request a custom research report for industry.

Global Market Leaders and Top Companies in Automotive Turbocharger Industry

Garrett Motion Inc.:

A leader in turbocharger technology, Garrett specializes in innovative solutions for passenger and commercial vehicles, focusing on improving functional performance and combustion efficiency.

BorgWarner Inc.:

BorgWarner is known for its advanced technologies in turbocharging systems, promoting sustainability through electrified solutions and driving performance in engines.

Honeywell International Inc.:

Honeywell offers a wide range of turbocharger products that improve efficiency and satisfy stringent regulatory standards in emissions across varied vehicle applications.

MHI Turbocharger:

MHI focuses on manufacturing turbochargers that improve fuel efficiency and engine power, supplying major automotive players globally.

We're grateful to work with incredible clients.

Datasite
Agilent
Asten Johnson
Bio-Rad
Carl Zeiss
Dywidag
Illumina
LEK Consulting
Shell