Global opportunity of automotive turbochargers industry 2024

Turbocharger is a gas compressing system use to enhance the performance of engines by allowing more air at higher temperature into the engines. Turbochargers are more helpful in reducing particles in diesel engine emission and controlled (Nitrogen Oxide) NOx emissions. Additionally, turbochargers can increase fuel economy and when coupled with high pressure fuel injection makes combustion more efficient and cleaner.

Automotive industry is facing challenge from rising global pressure to reduce carbon footprints and stringent fuel norms by the government. Integration of turbochargers with engines helps in addressing the growing demand for fuel efficient vehicles from consumers. Rising sales of automotives in emerging countries such as India, China and Mexico is the major factor which is driving the growth of automotive and automotive spare parts market. Asia-Pacific region is the fastest growing and largest market of automobiles in 2014; more than 7 million commercial vehicles registered in Asia-Pacific region out of which more than 3.5 million commercial vehicles were registered in China. China is the largest market for automobile industry and automobile spare parts across the globe. According to our research, it is estimated that China is going to witness vehicle sales up to 30 million units annually by 2020. Despite strict norms and strict vehicle owing restrictions in major cities of China, U.S. and The UK, automobile market is expected to grow exponentially in nearby future. The Ministry of Environmental Protection (MEP) in China states that registration of all new vehicles will have to fulfill the new vehicle standards based on policies used in Europe and United States by 2020. All new vehicles have to improve their fuel injection systems and structure of engine’s combustion chamber in order to comply with new standards.