The Latin America, Middle East and Africa Turbocharger Market would witness market growth of 8.7% CAGR during the forecast period (2021-2027).
The surging number of automobiles across various nations of this region is augmenting the demand for turbochargers in the region. Along with that, consumers are encouraged to adopt vehicles with less carbon emission would bolster the usage of turbochargers in the production of various vehicles and hence, surging the regional growth of the turbocharger market in the coming years.
Moreover, the increasing demand for gasoline engines and the development of electric turbochargers would bolster the demand for turbochargers in the region. Turbochargers offer a wide range of benefits like reduction in the size and weight of the engine, which is attracting manufacturers to use these turbochargers in the production of various vehicles and thus, spurring the growth of the regional turbocharger market in the future years.
However, turbochargers offer two major drawbacks in comparison to a conventional aspirated or supercharged engine. One of the drawbacks is heat, since the turbo is fueled by hot exhaust gasses, it becomes very hot. In some engine conditions, the turbocharger begins to glow red, which does not happen in everyday driving situations; although it occurs whenever the engine is exploited to its limits for a constant amount of time. Due to this, certain turbocharged sports cars have vents in the hood or down the side, as it checks the air moving via the engine bay and keeps everything cool.
The Brazil market dominated the LAMEA Wastegate Technology Turbocharger Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $97.4 million by 2027. The Argentina market would witness a CAGR of 9.7% during (2021 - 2027). Additionally, The UAE market is expected to witness a CAGR of 9% during (2021 - 2027).
Based on Fuel Type, the market is segmented into Diesel and Gasoline. Based on Application, the market is segmented into Light Commercial Vehicle, Heavy Commercial Vehicle, Ships & Aircrafts, Agriculture & Construction, and Locomotives. Based on Material, the market is segmented into Aluminium and Cast Iron. Based on Technology, the market is segmented into Twin-turbo Technology, Wastegate Technology and Variable Geometry Technology (VGT). Based on End User, the market is segmented into Original Equipment Manufacturer (OEMs) and Aftermarket. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Turbocharger Market is Predict to reach USD 24.3 Billion by 2027, at a CAGR of 6.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Garrett Motion, Inc., BorgWarner, Inc., Cummins, Inc., Mitsubishi Heavy Industries Ltd., Precision Turbo & Engine (Wabtec Corporation), IHI Corporation (Dai-ichi Life), Turbo Dynamics Ltd, Marelli, Magnum Performance Turbos, Inc., and Kompressorenbau Bannewitz GmbH.
By Fuel Type
By Application
By Material
By Technology
By End User
By Country
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