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Status and Challenges of the ChineseTurbocharger supply market under the Impact of COVID-1

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Status and Challenges of the ChineseTurbocharger supply market under the Impact of COVID-1

2022-03-28
From 2019,COVID-19 has since spread worldwide, leading to an ongoing pandemic.
The COVID-19 crisis is creating uncertainty in the market, with a sharp slowdown in supply chains, a drop in business confidence and heightened customer panic.

As the world's fastest-growing auto market, China is also leading in the field of turbocharging, maintaining the first growth rate in recent years.

By technology, the turbocharger market has been categorized into twin-turbo technology, waste-gate technology, and variable geometry technology (VGT). By application, turbochargers find application in light commercial vehicles, heavy commercial vehicles, ships & aircrafts, heavy duty vehicles, and locomotives. By industry vertical, the turbocharger market has been categorized into aerospace & defense, automotive, marine and agriculture & construction. By fuel type, it is segmented into gasoline and diesel. Cast Iron and Aluminum are different types of materials used for turbochargers. By end-user, the turbocharger market has been categorized into original equipment manufacturers (OEMs) and aftermarket players.


The Chinese Turbocharger Exported market was valued at $3897391 million in 2019, and is to reach $4144168 million by 2021, registering a CAGR of 3.12% from 2019 to 2021.


Challenges of the ChineseTurbocharger supply market


As China's supply market is saturated, raw material supply, transportation issues, and production delays have become new challenges.

However, due to the positive outlook of the world automotive industry, the demand for turbochargers will continue to grow in the coming years, as these superchargers ensure optimum engine performance and higher fuel efficiency.

 
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