A turbo is a common component in various cars, trucks, heavy-duty vehicles and railway engines. They are popularly used with diesel cycle internal combustion engine and Otto cycle. Turbochargers ob the other hand are forced induction systems. These systems compress the air trying entering the engine with help of heat energy of certain exhaust gases. This process increases air-fuel mixture in the cylinders and boosts its performance. Turbocharged engine produces increased power output, vehicle efficiency, power and weight ratio and downsizing of the vehicle engine. Owing to all these facts, automotive turbocharging is a crucial system for the vehicles. Turbochargers market is booming with increased demand and popularity.
Automotive Turbocharger Market Trends and Forecasting Until 2017
Turbochargers Market have a great potential, when it comes to applications for passenger cars and larger commercial vehicles. The biggest segmentation in this market is based on their fuel type. Turbochargers are segmented based on gasoline and diesel. According to the present market trends, diesel turbochargers are leading market over the gasoline versions. This is mainly due to increased usage of these engine in the key geographical regions of the world. China and Europe are the key geographical regions of the world relying on diesel turbocharging.
This is a highly volatile yet growing market at the same time. Growth of this industry can be directly associated to global expansion in the demand for vehicles, increased fuel prices, quest for potentially higher fuel efficiency and strict government rules and regulations. Some of the basic technologies used for turbo chargers include twin turbo, VGT (variable geometry turbo) and wastegate. Amongst these three technologies, VGT is the most popular technology for its gives maximum aspect ratio. These are specially designed for effective aspect ratio, which is ideal for commercial vehicles.
The global diesel market for turbochargers was poised at 6,019 million dollars in the year 2012 with 20131 units. Gasoline market on the other hand was poised at 1719 million dollars in 2012. Both these segments are aiming at great boost by the end of 2017. The gasoline market is likely to take over the diesel market with a record CAGR of 18.13%. Diesel turbochargers on the other hand will grow at the CAGR of 6.17% until 2017. These are highly positive prospects for the turbochargers market.
When it comes to the driving forces, carbon footprints, government regulations, trend of engine downsizing and increasing number of personal use vehicles are the driving factors for this market. While usage of counterfeit products, increased usage of gasoline turbo and shifting trends towards electric turbochargers are the major challenges to this market.
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