Published Date: 2-Nov-2021
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According to a new report Global Turbocharger Market, published by KBV research, The Global Turbocharger Market size is expected to reach $24.3 billion by 2027, rising at a market growth of 6.2% CAGR during the forecast period.
The gasoline segment is estimated to acquire a significant growth in the market due to the high adoption of Turbocharged Gasoline Direct Injection Engines (TGDI) in gasoline vehicles. OEMs are increasingly shifting from diesel to gasoline engines to reduce the level of particulate matter in exhaust gases in automotive vehicles. It further helps OEM to manage the emission standards enforced by the regulatory bodies. Due to this, the diesel engine turbochargers are estimated to witness a low growth over the forecast period.
The Light Commercial Vehicle market dominated the Global Turbocharger Market by Application 2020, and would continue to be a dominant market till 2027. The Heavy Commercial Vehicle market is experiencing a CAGR of 7% during (2021 - 2027). Additionally, The Ships & Aircrafts market is poised to grow at the highest CAGR of 7.5% during (2021 - 2027).
Europe acquired the highest revenue share in the turbocharger market in 2020 and is estimated to maintain its dominance during the forecast period. The Asia Pacific is anticipated to exhibit the major growth rate over the forecast period.
Full Report: https://www.kbvresearch.com/turbocharger-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 End User
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