Albany, New York, December 28, 2016: The latest report focusing on the turbocharger market has been recently added to the online database of Market Research Hub’s repository. This study provides an in-depth study of the current market situation and growth scenarios for the coming years. It is Entitled as “ Global Turbocharger Market for Commercial Vehicles 2016-2020″. Key Americas, Americas, EMEA and APAC. According to the key findings, analysts have forecasted the global turbocharger market for commercial vehicles to expand at a CAGR of 8.36% until the end of 2020.
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Initially, the report briefly highlights the scope of turbo chargers and its market overview in the above regions. It has been a long time since the end of the year. It is widely used in cars and commercial vehicles because of its low fuel consumption, reduced emissions and improved power efficiency. It is a performance part that will boost the power of an engine by 50-60%. The EU is implementing the GHG emission reduction scheme. So one of the major challenges for the market is the development of hybrid and electric commercial vehicles.
In the next section, the report segregates the market on the basis of applications along with geographical segmentation. By applications, it covers the following three segments:
- LCVs
- MCVs
- HCVs
Among these, the LCV segment is the main driver for the growth of the turbocharger market in commercial vehicles. In 2015, it has dominated the market with 60% of the overall market share but recent report studies that the market is highly dominated by the HCV segment with 75% market share.
The report is based on the assumption that the price of the product is lower than the price of the product. As per the research study, geographically, in the Americas, the market is expected to grow at a strong CAGR of 11.61% by 2020. In EMEA, it will reach 3.20 million units by 2020 and in APAC it would acquire 4.24 million units by 2020. In Japan, the demand for commercial vehicles is increasing due to the Tokyo Olympics 2020.
Key vendors currently in the market are as follows:
- BorgWarner
- Cummins Turbo Technologies
- Honeywell
- Ishikawajima-Harima Heavy Industries
- Mitsubishi Heavy Industries
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Additional prominent vendors are Magnum Performance Turbos, Gale Banks Engineering, Precision Turbo & Engine, and Turbo Energy.
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