Automotive Supercharger Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Automotive Supercharger Market is anticipated to register a CAGR of over 4.5% during the forecast period (2020 - 2025).
Key HighlightsImproved engine output and easy to install, operate and maintain assembly are some of the key factors responsible for the growing adoption of automotive superchargers.
Addition of supercharger to a vehicle engine is one of the quickest solutions to increase the engine output power. Owing to superchargers real time power delivery, it is a common addition in the airplane’sinternal combustion engines.
However, turbochargers, which also work like superchargers, present a threat to adoption of superchargers due to its growing popularity with luxury and exotic cars.Also, high cost of development of automotive superchargers because of usage of heavy-duty components in it is expected to be a limiting factor for market growth.
Multistate supercharging, which results in reduced carbon emissions, higher fuel efficiency, and torque enhancement is likely to be a major trend in the coming years.
Recent advancements in automotive technology and growing awareness about such systems are also projected to boost the market growth over the forecast period.Though the number of luxury cars featuring supercharger system is limited in the emerging markets, their numbers will grow rapidly in the future. The major issues regarding superchargers are the high maintenance costs. Also, most of the SUV buyers in the emerging markets drive their off roaders on paved roads in the cities and have little need to have safety systems.
Asia-Pacific to Witness Significant ShareAsia-Pacific is currently the largest market among the world, as almost 50% of the vehicles sold globally are from this region, due to the presence of major automotive hubs like China, India, and Japan. The need for power has been increasing year-on-year. Asia has witnessed a change in trend toward downsizing of engines, wherein equipping a V6 with supercharger is found to be more efficient than equipping a vehicle with V8 engine.
It is estimated that more than 45% of vehicles sold in the world are expected to be gasoline engine vehicles, by the end of 2020, and the increase in demand for power is expected to drive the gasoline vehicles toward supercharging. In September 2017, the European Automobile Manufacturers Association has released a study, which says that sales of gasoline-powered cars have overtaken diesel-powered cars and this trend is expected to continue during the forecast period, which is also anticipated to see a decline in diesel vehicle sales, due to the rising concerns on pollution levels, globally, coupled with the increasing demand for hybrid and electric vehicles.
Rising CO2 emissions, especially in the Asia-Pacific region, have convinced the automakers to improvise their engines by installing a supercharger, as these help in complete and better combustion, which reduces the risk of harmful emissions.
Competitive LandscapeThe automotive supercharger market is dominated by players such as Honeywell International Inc., BorgWarner Inc., IHI Corporation, Eaton Corporation PLC, Daimler AG,MITSUBISHI HEAVY INDUSTRIES, LTD., Tesla Inc.,and Koenigsegg Automotive AB. These Companies are expanding their business by new innovative supercharger systems, so that they can have edge over their competitors.
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