8 months ago

Automotive Twin Turbocharger Market to exceed USD 7 billion by 2024

More Information @ Rising demand for turbocharging technologies from the OEMs to deliver enhanced and fuel-efficient vehicles will primarily drive the industry growth.

Automotive Twin Turbocharger Market to exceed USD 7 billion by

Automotive Turbocharger Market in APAC will grow 8% CAGR from 2017 to 2024: Global Market Insights, Inc. The Latest Research Report on “Automotive Turbocharger Market”, Rising product demand from OEMs to offer light weight and fuel-efficient vehicles coupled with stringent regulations regarding CO2 emissions will primarily drive the industry over the forecast timeframe. Industry participants are focusing towards controlling these emissions and offering enhanced driving experience. This has resulted in high production of turbochargers, further escalating the revenue generation. However, rising implementation of electric vehicles will pose a challenge before industry participants. Automotive Turbocharger Market to surpass USD 24 billion by 2024; according to a new research report by Global Market Insights, Inc. VGT turbochargers will grow rapidly, exhibiting more than 8% CAGR from 2017 to 2024. These turbochargers are responsible for precise controlling of NOx and particulate emissions. Moreover, shifting preference can be credited to the provision of multiple benefits such as increasing the engine efficiency, reduction in lag time, and cost effectiveness than the counterparts. Twin turbo will be valued at around USD 7 billion till 2024 owing to its advantages such as superior acceleration and power. Automotive turbocharger market from PCVs are likely to capture highest revenue share, surpassing 60% by the end of 2024. Rising production of these vehicles across the globe, especially in developing countries of Asia Pacific will fuel the industry growth. Rising consumer demand for minimal loss in fuel efficiency and high-power output will further strengthen the product penetration. Rising international and local trading activities across the globe will propel the growth of automotive turbocharger market from HCVs. Substantial increase in vehicle production has led to increased turbocharger demand owing to these mandatory norms. This has further resulted in higher frequency of replacement of traditional engines with turbocharged engines, impacting the industry positively. Rising trading and industrialization activities, especially in developing countries has opened numerous opportunities for the industry players. Regular 1 | P a g e

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