Market Research Future Insights
According to MRFR analysis, the global Turbocharger Market is expected to register a CAGR of ~7.13% from 2022 to 2030 and hold a value of over USD 26.51 billion by 2030.
A turbocharger is a type of forced induction system that is used to increase the power output of an internal combustion engine. It consists of a turbine and a compressor that is connected by a common shaft. The turbine is driven by exhaust gases, and the compressor is used to compress and force air into the engine's combustion chamber.
The COVID-19 pandemic has had some impact on the production and sales of turbochargers, but the overall impact has been relatively limited. The demand for turbochargers has remained relatively stable during the pandemic. The pandemic has also had some impact on the automotive industry, which is a major user of turbochargers. The slowdown in the automotive industry due to the pandemic has led to a decrease in the demand for new vehicles, which has in turn led to a decrease in the demand for turbochargers.
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North America has long been a major player in the turbocharging market, with the United States leading the way. However, in recent years there has been substantial growth in the Asia Pacific region as well, with numerous countries adopting turbocharged engines to improve fuel efficiency. This trend is expected to continue in the coming years, as more and more countries look to turbocharging as a way to meet ever-tightening emissions standards.
The Global Turbocharger market has been segmented into technology, fuel type, and sales channel.
Based on the technology, the market has been segmented into VGT/VNT, Wastegate, and Electric Turbochargers.
Based on the fuel type, the market has been segmented into Diesel, Gasoline.
Based on the sales channel, the market has been segmented into OEM and Aftermarket.
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Some of the key market players are Turbocharger industry include Cummins Inc, Eaton Corporation, Honeywell International Inc, Bosch Mahle Turbo Systems GmbH, Precision & Turbo, Borgwarner and Inc, Rotomaster International, Mitsubishi Heavy Industries, Continenetal AG.
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