Turbocharger Market Analysis 2018 To 2023 Research ReportPosted by Abhijeet Bendre on August 14th, 2018 Turbocharger Market Overview: The Global Turbocharger Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of Turbocharger will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2022, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2022). Access Complete Report @ https://www.marketresearchfuture.com/reports/turbocharger-market-1835
Over the past decade, it has been experienced that the prices of crude oil per barrel is increasing very rapidly and also the availability the crude oil is decreasing day by day. Due to these factors, the mind-set of large pool of population is shifting their preference towards electric vehicles. In the last 3 to 4 years, the demand for electric vehicles in the United States is rapidly increasing and seen around 70% of year-over-year growth in the sales. Along with the United States, Norway has also put a step ahead and has shifted more focus towards electric vehicles. As per the market statistics, every third of new car is electric and also the country has the highest proportion of 6.4% worldwide followed by Sweden i.e. 3.4%. The growth of electric vehicles is increasing across the globe and since 2014, the sales have been doubled. As of 2016, near about 777,500 electric vehicles have been sold worldwide. The growing demand for electric vehicles combined with rising fuel prices are expected to adversely impact the Turbocharger market. The major factor that has been a restraint for the Turbocharger is the government regulations over its certification. The Turbocharger needs to clear all the certification process led by government and transportation department. However, several manufacturers face various difficulties in getting NOCs from these departments. Moreover, the manufacturers need to obtain these certificates to sell or export their products to other countries such as US’s DOT, China’s CCC, Brazil’s INMETRO, Japan’s JAS, India’s RTO. Therefore, owing to this factors, the market has faced various challenges that could obstruct the market growth There exists a rapidly rising demand for fuel efficient vehicle in the across the globe. With manufacturers focusing on development of lightweight components for automobiles specifically the increasing usage of carbon fibre and other lightweight material in order to enhance a vehicles fuel efficiency the market for Turbocharger is set to witness a steep increase in demand. The Turbochargers are mainly tasked with efficient fuel delivery for combustion, development of fuel efficient vehicles will push the demand in the market for Turbochargers during the forecast period. On the other hand stringent government policies in the form of emission taxes and penalties and overall growing awareness regarding the environment is expected aid the growth of Turbochargers. With manufacturers investing in development of high performing fuel injection pumps to be integrated in vehicles to reduce emissions the market is poised for rapid growth during the forecast period. Industry/ Innovation/ Related News: March, 2011 - Honeywell announced that it will invest in a new turbocharger manufacturing facility in Presov, Slovakia. The new plant will initially produce turbochargers for light vehicle and light vehicle commercial vehicle applications and is expected to be operational by 2012. The new Slovakia facility will supplement Honeywell’s global footprint and address the rapid increase in turbo adoption around the world. Honeywell expects global vehicle production to increase in 2011 and beyond, and the turbocharger segment is expected to grow by more than two million vehicles this year alone September, 2014– Honeywell Turbo Technologies, the leading global developer of automotive turbochargers, released its Global Turbo Forecast that estimates the industry will generate billion in revenue by equipping 49 million vehicles with turbochargers annually by 2019. The continued growth of turbocharging technologies will be driven by requirements for manufacturers to meet global environmental emissions regulations and bolstered by strong demand in emerging markets. March, 2015 - Cummins Turbo Technologies, a global engineering leader in turbocharger technology, officially launched its new Two-Stage turbocharger powering the 2016 Nissan TITAN XD at the Mid-America Trucking Show (MATS). The next generation Two-Stage System with Rotary Turbine Control (RTC) is Cummins’ most sophisticated turbocharger to date, delivering high efficiency, excellent driveability and low emissions levels. Turbocharger Market Segmentation: The Global Turbocharger Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding; Segmentation by Vehicle Type: Comprises Passenger Car, LCV, HCV, Agricultural Tractor and Construction Equipment. Segmentation by Technology: Comprises Variable Geometry Turbocharger(VGT)/ Variable Nozzle Turbocharger(VNT), Wastegate, and Others Segmentation by Fuel Type: Comprises Variable Gasoline and Diesel Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World. Turbocharger Market: Regional Analysis Asia-Pacific is expected to dominate the turbocharger market in the forecast period and is followed by North America and Europe. Increasing usage of vehicles, increasing need for power efficient passenger & commercial vehicles, high demand for fuel efficient engines in the economically emerging countries like China and India will drive the market of turbocharger in the Asia-Pacific region. Major Table of Content: 1 Executive Summary 2 Scope Of The Report 2.1 Market Definition 2.2 Scope Of The Study 2.2.1 Definition 2.2.2 Research Objective 2.2.3 Assumptions 2.2.4 Limitations 2.3 Research Process 2.3.1 Primary Research 2.3.2 Secondary Research 2.4 Market Size Estimation 2.5 Forecast Model 3 Market Landscape 3.1 Porter’s Five Forces Analysis 3.1.1 Threat Of New Entrants 3.1.2 Bargaining Power Of Buyers 3.1.3 Threat Of Substitutes 3.1.4 Segment Rivalry 3.1.5 Bargaining Power Of Buyers 3.2 Value Chain/Supply Chain Analysis 4 Market Dynamics 4.1 Introduction 4.2 Market Drivers 4.3 Market Restraints 4.4 Market Opportunities 4.5 Market Trends Continued… About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. 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