North America Automotive Turbocharger Market - Industry Size, Opportunity, Growth, Demand, & Forecast To 2027

A turbocharger, also known as a turbo-supercharger, is a turbine-driven forced induction device. A turbocharger increases an engine’s power output by injecting extra compressed air into the mechanism. A turbocharger is basically a gas compressor. Turbochargers have greater power density and are more efficient than naturally aspirated engines. The North American automotive turbocharger market is anticipated to witness higher market growth during the forecast period due to lower carbon emission standards, stringent fuel efficiency norms, and engine downsizing trends across the region. The prominent factor which is expected to challenge the market is fuel efficiency. A turbocharger is powered by the unused exhaust gases of the combustion engine. In addition to that, turbochargers offer enhanced fuel economy and declining emission standards. Based on these considerations, many developers and manufacturers have made turbocharging technology their primary product. In the North America region in 2020, turbochargers were only found in 1% of vehicles. Over time, this ratio reached 34% in 2019. Also, it is anticipated that eight out of ten new vehicles sold in the United States will be turbocharged during the forecast period. According to the research report, "North America Automotive Turbocharger Market Outlook, 2027" published by Actual Market Research, the automotive turbocharger market is anticipated to grow at a 9.25% CAGR during the forecast period. The North America region is projected to have more than a 14% share in terms of value in the global automotive turbocharger market. North America is the third largest market for turbochargers, with prominent countries such as the United States, Canada, and Mexico capturing a larger share of the market. Among these countries, the United States of America is projected to have the highest market share in the North American market. Also, Mexico is considered the fastest growing country in the world. A rise in demand for vehicles with higher power efficiency has prompted manufacturers to install automotive turbochargers in their vehicles. According to the OICA statistics, total vehicle production equipped with turbochargers across the prominent countries was calculated to be 3574798.842 units in 2021. This data is projected to reach 6756946 units during the forecast period. According to the report, the automotive turbocharger market is segmented into two vehicle types: passenger vehicles and commercial vehicles. Commercial vehicle types are forecasted to lead the market with more than 60% of the market share by 2027. In North America, Mitsubishi turbocharger is an original equipment manufacturers and suppliers to all the top automotive and vehicle manufacturers. The company is able to design and develop a turbocharger as per consumers' demands. Mitsubishi Turbocharger is a division of Mitsubishi Heavy Industries Ltd. (MHI). Mitsubishi Engine North America Inc. is changing its name to Mitsubishi Turbocharger and Engine America as the company is expanding its base. Based on the supply chain or distribution channel, the North American market is segregated into two channels: original equipment manufacturer (OEM) and aftermarket. Among these channels, OEM is projected to acquire a higher market share in terms of value during the forecast period. Increasing production of turbochargers and penetration of major market players in this industry are expected to be the driving forces for market growth. Further, according to the report, North America's automotive turbocharger market is categorized into three technology types, including variable geometry turbochargers, wastegate turbochargers, and electric turbochargers. The variable geometry turbocharger segment is projected to dominate the market. Due to the ability to regulate the temperature and the higher efficiency provided by this component, it is expected to witness increasing demand across the North American region. However, increasing awareness about technology and emission regulations across the region is expected to propel the market growth for electric turbochargers. Based on the fuel type, North America's automotive turbocharger market is segregated into two types, such as gasoline and diesel. Among these types, the diesel fuel turbocharger segment is projected to acquire the maximum market share due to the higher adoption of turbochargers in diesel engines. Impact of Covid-19 on North America automotive turbocharger Market: The COVID-19 pandemic had a twin impact on the North American automotive turbocharger market. The impact was greater for high-end and customized components. With that, supply chain disruptions have negatively affected the industry. The automotive industry has been severely impacted by the continuous lockdown regulations implanted by the government. However, to overcome this situation, many major companies present in the region have outsourced the practices for work-from-home methods for their employees. These initiatives are anticipated to propel the market growth for North America's automotive turbocharger industry. Major Companies present in the market: Garrett Motion Inc., Cummins Inc., Borgwarner Inc., Continental AG, Ishikawajima-Harima Heavy Industries Co., Limited, Mitsubishi Heavy Industries Limited, Turbo Energy Private Limited, Hunan Tyen Machinery Co., Ltd., Rotomaster International, BMTS Technology GmbH & Co. KG, FengchengXindongli Turbocharger Co., Limited, Bullseye Power Turbo Chargers LLC., The Turbo Engineers Gmbh, KompressorenbauBannewitz GmbH, Magnum Performance Turbos, Inc., Precision Turbo & Engine Inc. ,Turbonetics, Inc., Ningbo Motor Industrial Co., Ltd, Marelli Corporation and Banks Power Considered in this report • Geography: North America • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • North America Automotive Turbocharger market with its value and forecast along with its segments • Country-wise automotive turbocharger market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report • United States of America • Canada • Mexico Types of Technology in the report: • Variable Geometry Turbocharger • Wastegate Turbocharger • Electric Turbocharger By Vehicle Type in the report: • Passenger Vehicle • Commercial Vehicle Type of Fuel in the report: • Gasoline • Diesel Type of Sales Channel in the report: • Original Equipment Manufacturer • Aftermarket The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to automotive turbochargerindustry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.