A turbocharger is a type of forced induction system that utilizes energy from exhaust gases from the engines via a turbine. This is the case in the induction chamber. The power output of the engine can be increased by increasing the volume of the intake fuel air mixture, which could be easily done with use turbochargers. It utilizes the energy of exhaust gases from the engine to compress the inlet air and feed it into the engine to create a better air to fuel ratio. Turbochargers are now one of the most important automotive accessories in today’s time, but to increase the efficiency of the engines in terms of power and output.
Turbochargers are useful in helping the automotive industry to meet the standards and standards of the emission of exhaust gases, as CO2, nitrous oxide, and particulate materials from the automobile. Augmentation of the engine with a turbocharger help in addressing the increasing demand for fuel-efficient vehicles from consumers.
The global market for turbochargers is growing at a CAGR of around 10-12%. The European Market Commitment was a major contributor to the turbocharger market, followed by Asia and North America. The penetration rate of turbochargers in the North American fleet is comparatively less than in other regions. The global market has ended up as a growing demand for the global market.
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(LCV), heavy commercial vehicles (HCV) and passenger vehicles (PV). Currently, the PV segment is the largest contributor to the market. In future, the PV segment is expected to continue its dominance in the global market, due to increasing production and demand. The CV segment is expected to be a major growth factor.
The global turbochargers market can also be segmented by technology asvariable geometry technology (also known as varable nozzle turbine), wastegate technology, and twin turbo. On the basis of the fuel type, the turbocharger market is segmented into diesel and gasoline turbo.
Overall the diesel turbocharger segment is expected to grow at a higher rate Compared To gasolineas turbochargers have high adoption rates in diesel engines.
However, with advancements in technology the gasoline turbochargers are expected to grow at a promising rate in the future.
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Major players of the turbochargers market include Borgwarner Inc., Honeywell International Inc., Mitsubishi Heavy Industries Ltd, IHI Corporation, Continental AG, and Cummins Inc. to name a few. These companies are in the process of developing and developing new products. Apart from this, they are taking the initiative to engage themselves in partnerships and alliances in order to expand their business.