How big is the demand for Automotive Turbochargers- Zhejiang Jufeng Auto Parts Co., Ltd

Growing demand for passenger cars and commercial vehicles is driving the growth of the Automotive Turbochargers market. Compared to traditional engines, turbocharged engines offer greater power density and fuel efficiency. The technology also enhances horsepower. Moreover, low interest rates in developing economies and increasing consumer preference for personal mobility are driving the growth of the automotive turbocharger market. In fact, the global passenger car market is anticipated to exceed $1,321.7 billion by 2025.Growing regulations for emission levels have pushed OEMs to include automotive turbochargers in their vehicle lineup. However, the high cost of these turbochargers is likely to limit their adoption among consumers.

In 2019, Europe accounted for a significant share of the global automotive turbocharger market. Moreover, the region has been making strides with the implementation of stringent EU emission regulations. Recent targets on NOx emissions have also spurred increased demand for automotive turbochargers.The global automotive turbocharger market is expected to witness a rapid growth over the forecast period. Increasing vehicle emissions norms are driving growth in the automotive turbocharger market. These emissions norms require manufacturers to develop more advanced turbocharger technologies. Automotive turbochargers are designed to improve the efficiency of internal combustion engines.They compress exhaust air and deliver it to the combustion chamber.The demand for fuel efficient vehicles is rising across the globe. With the increasing popularity of entry-level hatchbacks in emerging markets, turbochargers are becoming increasingly popular.

The technological advancements in turbochargers have enabled manufacturers to combine them with engines to increase fuel efficiency.COVID-19 outbreak has affected the automotive industry in a variety of ways. First of all, the outbreak has brought the entire industry to a standstill. This extended pause in customer demand has been distressing for many automakers. As a result, most automakers are cutting back on R&D efforts and alternative fuel programs.Secondly, the virus's spread has negatively affected the automotive turbocharger market. A large part of the global market for automotive turbochargers is based in the Asia-Pacific region, mainly due to low labor costs and stringent emissions regulations. But the spread of the virus has also disrupted supply chain activities in China, which is the largest market for automotive turbochargers.Automotive turbochargers are used to increase the power of engines.

These devices are typically installed in diesel and gasoline vehicles. The growing demand for fuel-efficient vehicles and stricter emissions regulations are driving the market for these products. The automotive turbocharger market is estimated to grow at a high CAGR throughout the forecast period.The automotive turbocharger market is made up of a variety of manufacturers. Some of the major players include BorgWarner, Continental AG, Cummins Inc., Honeywell International Corporation, EATON Corporation, Mitsubishi Heavy Industries, Magnum Performance Turbos, and Rotomaster International. These manufacturers account for most of the market share in the industry.The automotive turbocharger market can be further segmented by application. The passenger vehicle segment is expected to account for a large percentage of the market by 2020. Growing disposable income and a growing population are driving the demand for fuel-efficient automobiles. This has driven manufacturers to develop more efficient turbocharger technologies.

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