7 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.

along with offering

along with offering reduced vehicle weight will boost the business demand. Increasing global vehicle production along with stringent engine emission norms will contribute significantly towards the volume share. Aftermarket segment will experience robust growth during the forecast period. This growth can be credited to increasing product popularity and rising need for replacement to suffice the emission norms. Presence of industry participants focusing on capturing aftermarket share will further fuel the business growth. Europe driven by Germany, UK, France and Italy holds the major volume share and is estimated to continue its dominance over the study timeframe. This can be attributed to strict emission norms together with presence of major manufacturers. Asia Pacific automotive turbocharger market will pose over 8% CAGR between 2017 and 2024 owing to increasing demand from nations such as Japan, China, South Korea, and India. Prominent automotive turbocharger market participants are Weifang Fuyuan, Federal-Mogul, Linamar, IHI Corporation, Honeywell, Mitsubishi Heavy Industries, Montupet, Cummins Turbo Technologies, and BorgWarner. Other notable players are Magnum Performance Turbos, Bosch Mahle Turbo Systems, TEL, Turbo Engineering, Banks Power and Precision Turbo and Engine. Industry players mainly focus on developing the new products to gain a competitive edge. For instance, in April 2017, Honeywell launched a variable nozzle turbine (VNT) turbocharger for expansion of its product portfolio. About Global Market Insights: Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology. 4 | P a g e

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