Turbocharger Market: 2018 Industry Analysis Research Report

Posted by Abhijeet Bendre on September 4th, 2018

Market Research Future published a Cooked research report on “Global Turbocharger Market Research Report - Forecast to 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.

Honeywell International Inc., Borgwarner Inc., IHI Corporation, Mitsubishi Heavy Industries Ltd., Cummins Inc., Continental AG, Eaton Corporation PLC, Bosch Mahle Turbo Systems GmbH & Co. Kg, Turbo Energy Private Limited, and Rotomaster International and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Turbocharger Market.

Complete Report Information Available At: https://www.marketresearchfuture.com/reports/turbocharger-market-1835

Turbocharger Global 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).

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

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.

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.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

About Us:

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.

Contact Us:

Amanora Chambers,

Magarpatta Road, Hadapsar

Pune – 411028

Maharashtra, India+1 646 845 9312

sales@marketresearchfuture.com