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Global Electric Turbocharger Market is anticipated to rise at a value CAGR of 21.1% over 2019-2028. According to a study published by Insure Insights on the Global Electric Turbocharger Market, an electric turbocharger is like a conventional turbocharger it uses exhaust gas to spin and pump more air into the engine. The increase in the need for performance in heavy duty vehicles, and strict government regulations towards vehicle emission have improved the market growth.
Top Driver: The increase in the demand for for higher capacity turbocharger is the key factor driving the growth
The increase in the demand for higher capacity turbochargers, and rise in automotive aftermarket have primarily driven the demand of the market. The rising preference for electric vehicles has further assisted the manufacturers for developing these types of vehicles have further boosted the growth of the market. The demand for more fuel efficiency in vehicles, and the increase in sales of passenger cars, have positively impacted the market.
Single-turbo has dominated growth in the Global Electric Turbocharger Market
Based on the Application the market is segmented into single-turbo, twin-turbo and other. The Single turbo segment has obtained the highest growth due to the rise in the adoption of Single turbo among the passenger vehicles. The decreased cost of single-turbo as compared to other types have further boosted the segmental growth.
In terms of the material the market is segmented into magnetic and non-magnetic material. The Magnetic material segment has obtained the most remarkable growth owing to rise in the adoption of the cast iron material amongst the OEMs for the development of turbochargers. Based on vehicle type, the market is segmented into passenger, commercial and sports vehicle. The Passenger vehicles have held a lucrative share due to the large scale production of the passenger vehicles around the globe. The rising demand for more fuel efficient engines, have led automakers to develop electric turbocharger for the passenger vehicles and thus have further expanded segmental growth.
Europe have held the highest share in the regional market
Based on region the market is segmented into North America, Europe, Asia Pacific and SAMEA. North America has held the highest market growth in the regional market owing to the large scale manufacturing of the sports and luxury cars in the region. The technological advances and increased in the disposable income have further boosted the regional growth. The presence of competitor like ELECTROCRAFT, INC, have further strengthen the regional market. Europe is expected to growth as a second largest market owing t the presence of key competitors like Alvier Mechatronics GmbH., VALEO, GARRETT MOTION INC etc. Asia Pacific is expected to rise as a fastest growing region owing to economizing trend for gasoline vehicles and strong vehicle growth respectively.
Product launches, New innovations, Strategic Collaborations, Mergers, and Acquisition, are the major strategies of the competitors
The Players of the Global Electric Turbocharger Market is fragmented. Product launches, Product launches, New innovations, Collaborations, Mergers, and Acquisition, are strategies used by the competitors The key competitors of the Global Electric Turbocharger Market are VALEO, CALNETIX TECHNOLOGIES, LLC, GARRETT MOTION INC, IHI CORPORATION, ELECTROCRAFT, INC, BMTS TECHNOLOGY (Bosch Mahle Turbosystems GmbH), TORQAMP, and Alvier Mechatronics GmbH.
VALEO: VALEO, is one of the key competitors of the Global Electric Turbocharger Market; In October 2017, VALEO had announced that it had closed the acquisition of FTE automotive. The deal was made for approx. USD 966.774 million. The acquisition was made by VALEO, to expand its portfolio with active actuation systems for transmissions.
Scope of the Report
By Vehicle Type
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