Global automotive turbocharger market forecast to report increased revenues of 10% CAGR during 2013 to 2018
Global Automotive Turbocharger Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-11 08:59:02
The Global Automotive Turbocharger market is forecast to grow at a CAGR of 9.95 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing engine downsizing. The Global Automotive Turbocharger market has also been witnessing the increasing demand for automotive turbochargers from China. However, the ongoing financial crisis in Europe could pose a challenge to the growth of this market.
Key vendors dominating this space are Borg Warner Inc., IHI Corp., Honeywell International Inc., and Mitsubishi Heavy Industries Ltd.
Other vendors mentioned in the report are Bosch Mahle Turbo Systems GmbH & Co. KGÂ¸ Continental AG, and Cummins Inc.
The following companies represent the key players in Global Automotive Turbocharger Market: Borg Warner Inc., IHI Corp., Honeywell International Inc., and Mitsubishi Heavy Industries Ltd.
The increasing use of two-stage turbocharging or twin turbo technology is expected to be a major trend in the Global Automotive Turbocharger market during the forecast period. In twin turbo technology, two turbochargers compress air and transfer it back to the vehicle engine, resulting in more power. Further, twin turbo technology is of two types, depending on the arrangement of turbochargers: parallel twin turbo, and sequential twin turbo. In parallel twin turbo technology, the turbochargers function simultaneously, whereas in sequential turbo, the turbochargers function sequentially, one at a lower engine speed and the other at a higher engine speed. Thus, the increasing usage of twin turbo technology helps reduce turbo lag and enhances engine performance.
One of the main drivers in this market is increasing engine downsizing. The increasing adoption of turbochargers in small cars, particularly those with two- and three-cylinder engines has a direct positive influence on the demand for automotive turbochargers.
Further, one of the main challenges in this market is the ongoing financial crisis in Europe that has affected the overall Automotive market in Europe and, hence, the Global Automotive Turbocharger market.
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