According to the research report titled ‘Automotive Turbocharger Market Size By Vehicle (PCV, LCV, HCV), By Technology (VGT/VNT, Wastegate, Twin Turbo), By Fuel (Gasoline, Diesel), By Distribution Channel (OEM, Aftermarket) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with MarketStudyReport, global automotive turbocharger market is projected to witness considerable growth over 2020-2026.
 

Rising automotive production and sales, increasing significance of performance and safety at higher altitudes, along with implementation of strict vehicle emission rules are the prime factors propelling global automotive turbocharger market growth.
 

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For the uninitiated, a turbocharger is a type of forced induction system which can significantly increase an engine's horsepower without adding weight, which is a major advantage that makes it popular among vehicle enthusiasts.
 

The air passing into the engine is compressed by these chargers, allowing the engine to squeeze more air into the cylinder and more fuel to be injected. Automotive turbocharger’s performance impacts all the important engine parameters such as power, emissions, and fuel efficiency.
 

As per vehicle type, the report cites that worldwide automotive turbocharger industry size from HCV segment is slated to increase at a notable pace through 2026, owing to strict emission regulations imposed on heavy-duty construction equipment.
 

Based on technology gamut, twin turbo segment held 45% of overall market share in 2019, creditable to growing product adoption in vehicles. Twin turbochargers are utilized in larger engines as it is preferable to employ a pair of compact turbochargers rather than a single large turbocharger as small turbines create less turbo lag.
 

With respect to fuel type, diesel segment is expected to observe significant growth over the next five years, on account of growth in locomotive engines sector.
 

Moving on to distribution channel, aftermarket segment is projected to record a CAGR of 9% over 2020-2026, due to surging customer expenditure in advanced engine technologies.
 

Geographically, North America accounted for 40% share of overall market in 2019, attributable to increasing number of AI-based startups in the region.
 

Leading firms operating in global automotive turbocharger market are IHI Corporation, Honeywell International Inc., Cummins Inc., Cimos d.d., BMTS Technology GmbH & Co. KG, BorgWarner Inc., and Banks Power among others.