Automotive Electric Turbocharger Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Automotive Electric Turbocharger Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Automotive Electric Turbocharger Market

The automotive electric turbocharger market size was valued at USD 0.13 billion in 2019, and the market is now projected to grow USD 0.05 billion by 2032, exhibiting a CAGR of 6.3% during the forecast period of 2019-2032.

Government has put restrictions on social gatherings, events and moving out from home which make the people homesick. Numerous companies are encountering hurdles due to covid pandemic as the outbreak situation has curtailed production and supply chain which has hindered the market switched to treating covid patients as priority over the other procedures which led the automotive electric turbocharger market growth. Additionally, manpower shortages affected manufacturing plants and slowed production due to movement restrictions and lockdowns in several regions. The pandemic has also had a negative impact on facial recognition door lock manufacturing and production facilities. The disruption in the supply chain and the decreased availability of labor, staff, and resources are the causes of this. The market is expected to grow slowly. However, subject to the treatment segment returning to its regular operations, the product demand will gradually revert to its historical estimations as lockdown requirements are gradually relaxed.

Stringent regulations to reduce vehicular emissions are expected to drive the automotive electric turbocharger market growth during forecast period. The use of electric turbochargers in the automotive sector has resulted in increased fuel efficiency for automobiles. They are made composed of an electric motor that quickly spins up the turbine, increasing low-speed torque and drivability while minimizing turbo lags created by turbochargers. Electric turbochargers help internal combustion engines function quicker by extending the RPM band and producing more power, hence improving vehicle performance. This strategy is environmentally friendly and saves a significant amount of fuel. Furthermore, optimal fuel usage, reduced waste creation, and high efficiency are the primary factors driving market growth. The government's stringent norms and regulations to reduce the increasing emissions of carbon dioxide and other hazardous gases, as well as the various emission standards imposed on automotive manufacturers to produce vehicles in accordance with the established rules and standards, are propelling the growth of the turbocharger industry around the world.

High adoption of engine downsizing will boost the automotive electric turbocharger market growth during forecast period. The recent trend of engine downsizing in autos has become one of the most important and useful characteristics of the automotive electric turbocharger market. Electric turbochargers increase engine power without influencing piston movement. This has influenced the downsizing of engines to improve fuel efficiency and vehicle performance. Automotive manufacturers are attempting to reduce the number of cylinders and piston displacement by integrating electric turbochargers. This will help to increase engine power with the assistance of electric motors.

Comprehensive Analysis of Automotive Electric Turbocharger Market

The automotive electric turbocharger market and automotives industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by Fuel Type and Vehicle Type. The Fuel Type segmentations include Gasoline and Diesel, by Vehicle Type segmentations include Passenger Car, and Heavy Commercial Vehicle, Light Commercial Vehicle.

The Europe region lead the automotive electric turbocharger market by benefitting a market size of USD 0.05 billion in 2027 due to Increased adoption of these electric turbochargers by renowned manufacturers, tough pollution laws set by the European Union to lower emission rates and boost fuel efficiency, is producing strong demand for electric turbos.

The top players in the market play a crucial role in the automotives industry assuring industrial prospectus growth and setting market standards. These prominent market players include, Garrett Motion (Rolle, Switzerland), Aptiv PLC (Dublin, Ireland), ABB (Zurich, Switzerland), Ningbo Motor Industrial Co. Ltd. (Ningbo, China), Precision Turbo and Engine Inc. (Indiana, US), Robert Bosch GmbH (Gerlingen, Germany), IHI Corporation (Tokyo, Japan), Fuyuan Turbocharger Co, Ltd (Beijing, China), Turbo Dynamics (Dorset, England) these market players provide a level-playing competitive environment across the globe.

In October 2019, Garrett Motion to Introduce World's First Electric Turbocharger: It has introduced plans to launch the world's first electric turbocharger for passenger vehicles, which is expected to be available in the coming years.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2016-2027

Base Year 2019

Forecast Period 2019-2027

Historical Period 2016-2018

Unit Value (USD billion) & Volume (thousand units)

SegmentationBy Fuel Type

Gasoline

Diesel

By Vehicle Type

Passenger Cars

Light Commercial Vehicles (LCV)

Heavy Commerical Vehicles (HCV)

By Geography

North America (U.S., Canada, and Mexico)

Europe (U.K., Germany, France and Rest of Europe)

Asia-Pacific (Japan, China, India, South Korea and Rest of Asia- Pacific)

Rest of the World


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