Global Automotive Turbocharger Market

  • 4100.00 Dollar US$
  • Published date: July 11, 2019 07:04
  • Modified date: July 12, 2019
    • Benson, Arizona, United States

Global Automotive Turbocharger Market is expected to reach USD 21.2 Billion by 2024 from USD 12 Billion in 2016 at a CAGR of 8.5% (Detailed analysis of the market CAGR is provided in the report).
Automobile Turbocharger MarketThe global Automotive Turbocharger market based on vehicle type has been segmented into a type of the vehicle as Passenger Cars, Commercial Vehicle, Construction Vehicles, Tractors, ATV. The passenger car segment is expected to grow at the highest CAGR during the forecast period. The growth of the automotive turbocharger aftermarket is driven by factors such as the increased average life of vehicles, changing consumer taste for greater power generating automotive, and stringent emission laws in regions such as Europe and North America. The demand for gasoline Automotive Turbocharger is increasing due to government legislations for emission norms. The demand for electric vehicles is increasing across the globe and governments are supporting incentives and subsidiaries for electric vehicles which will influence the demand for Automotive Turbochargers during the forecast period as well.

Asia-Oceania is estimated to dominate the turbocharger market for the automotive industry and is projected to rise at the highest CAGR during the forecast period. Asia-Oceania has promising opportunities for automotive manufacturers and spare part suppliers. OEMs in this region are catering to local demands as well as serving developed markets and exports. Also, the increasing pollution levels have prompted the governments to encourage vehicles with lower emissions and higher fuel efficiency enabling the growth of the turbocharger industry in this region. Indian emission norms such as Bharat 4 are based on European emission standards.

For more Imformation : https://www.maximizemarketresearch.com/market-report/global-automotive-turbocharger-market/4618/
The years that have been considered for the study are:
Base year 2016
Estimated year 2017
Forecast period 2017 to 2024

This Report Is Submitted By @Maximize Market Research Company
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