Recently,a reaserch has predicted that automotive industry is about to grow at a rapid pace, moreover, the speedy rising sales of passenger cars and technological innovations have also been a growth momentum. And they think the global automotive turbocharger market is expected to reach USD 24,223.3 million by 2023 with 7.97% CAGR.Automotive Turbocharger Market size valued at USD 13 billion in 2017.

So,what is a turbocharger?

A turbocharger, colloquially known as a turbo, is a turbine-driven forced induction device that increases an internal combustion engine's efficiency and power output by forcing extra compressed air into the combustion chamber. Turbocharger is usually made up of two main sections: the turbine and the compressor.

Turbo system enhances the engine output power without change in piston displacement. This in turn will lead to engine downsizing and derive improved fuel efficiency and vehicle performance. Reduction in vehicle weight by over 10%, 6% to 8% vehicle efficiency enhancement, and over 70 MMT reduction in carbon emission will provide strong growth prospects to the automotive turbocharger market share through the forecast period.

We usually segmented the automotive turbochargers market in the following segments:

By Technology:Variable geometry turbocharger、Wastegate、Twin turbo

By Fuel:Diesel、Gasoline

By Vehicle:Passenger cars、Light commercial vehicle、Heavy commercial vehicle、Sports cars、Off-Highway vehicle

By End-user:OEMs、Aftermarket

By Region

See below chart

Turbochargers 2017 sales and forecasts for 2024

Stringent emission regulations applied by various countries coupled with fuel efficiency and engine downsizing requirements are the major factors accelerating automotive turbocharger market share.  Recognizing the importance of controlling emissions from vehicles, government agencies are implementing performance-based emission standards, inadvertently will fuel the market size.

With the advent in technology, and with rising demand for powerful vehicles, automotive turbochargers are anticipated to observe robust growth in the next few years.