Market Overview:
Turbochargers are devices used to increase the power or performance of an engine. Turbochargers work by increasing the mass of air entering the engine, which in turn increases the amount of fuel that can be burned. This leads to a more powerful and efficient engine. The global turbocharger for commercial vehicles market is expected to grow at a CAGR of 5.5% during the forecast period 2018-2030. The market is segmented on the basis of type, application and region.
Product Definition:
Turbochargers are used in commercial vehicles to increase engine power and efficiency. The exhaust from the engine is directed through a turbine, which rotates a compressor wheel. This compresses the air entering the engine, which results in more power and better fuel economy. Turbochargers are important for commercial vehicles because they allow them to perform at higher levels with increased efficiency.
Mechanical Turbocharging:
Turbochargers are used to increase the volumetric efficiency of engines by reducing exhaust gas flow. The working principle is based on mechanical energy recovery from spinning turbine blades, which increases the power output of an engine without any significant changes in vehicle performance.
The global market for mechanical turbocharging is expected to witness significant growth over the forecast period owing to its ability to deliver increased fuel economy and power with minimum modifications made in vehicle design.
Exhaust Turbocharging:
Exhaust turbocharging is an alternative fuel technology used to increase the power of a vehicle by converting exhaust gases into useful energy. The process works on the basic principle of turbine, which is driven by gases coming out from engine and spinning couple of turbines which generate electricity.
The exhaust gas/spinning turbines produce additional energy which can be used to charge battery or it can be converted into mechanical work using gearbox.
Application Insights:
The market is segmented by application into heavy commercial vehicles (HCV), medium-duty vehicles (MDV) and light commercial Vehicles (LCV). The HCVs segment dominated the global turbocharger for commercial vehicles market in 2017, accounting for over 60.0% share of the overall revenue. This growth can be attributed to an increase in demand for fuel efficient and environment friendly transportation solutions across various applications such as logistics, public transport and emergency services among others.
The LCVs segment is expected to witness significant growth over the forecast period owing to increasing demand from countries such as India, China Japan among others that are developing at a rapid pace due to their growing population along with rising per capita income levels which has resulted in increased spending on automobiles including mini trucks/light buses which are widely used for passenger transport purposes owing to their low maintenance cost compared with other modes of transportation such as trains or airways.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing market, registering a CAGR of XX% from 2018 to 2030. The growth can be attributed to increasing demand for heavy commercial vehicles in countries such as China and India owing to rising GDP growth rates and expanding industrial sector. Furthermore, favorable government policies encouraging investments through FDI are also expected to boost the market over the forecast period.
The European region dominated the global industry with a revenue share of more than 35% in 2017 due to stringent emission norms implemented by governments across Europe that force manufacturers operating within their jurisdictionto install these systems or face severe penalties such as loss of business license or imprisonment for non-compliance with these norms thus driving demand across this region.
Growth Factors:
- Increasing demand for commercial vehicles: The global market for commercial vehicles is expected to grow at a CAGR of more than 5% during the forecast period. This will create a strong demand for turbochargers, which will help in the growth of this market.
- Technological advancements: Turbochargers are becoming more efficient with each passing day due to technological advancements. This is resulting in an increase in their adoption by commercial vehicle manufacturers worldwide.
- Stringent emission norms: Stringent emission norms are being implemented across various countries, which is leading to the increased adoption of turbochargers by commercial vehicle manufacturers as they help reduce emissions from these vehicles significantly.
Scope Of The Report
Report Attributes
Report Details
Report Title
Turbocharger for Commercial Vehicles Market Research Report
By Type
Mechanical Turbocharging, Exhaust Turbocharging
By Application
HCV, MCV, LCV
By Companies
BorgWarner, Cummins Turbo Technologies, Ishikawajima-Harima Heavy Industries, Mitsubishi Heavy Industries, BorgWarner
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
226
Number of Tables & Figures
159
Customization Available
Yes, the report can be customized as per your need.
Global Turbocharger for Commercial Vehicles Market Report Segments:
The global Turbocharger for Commercial Vehicles market is segmented on the basis of:
Types
Mechanical Turbocharging, Exhaust Turbocharging
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
HCV, MCV, LCV
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BorgWarner
- Cummins Turbo Technologies
- Ishikawajima-Harima Heavy Industries
- Mitsubishi Heavy Industries
- BorgWarner
Highlights of The Turbocharger for Commercial Vehicles Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Mechanical Turbocharging
- Exhaust Turbocharging
- By Application:
- HCV
- MCV
- LCV
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Turbocharger for Commercial Vehicles Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A turbocharger is a device that increases the power of an engine. Turbochargers are used on commercial vehicles to increase the power and efficiency of the engine.
Some of the key players operating in the turbocharger for commercial vehicles market are BorgWarner, Cummins Turbo Technologies, Ishikawajima-Harima Heavy Industries, Mitsubishi Heavy Industries, BorgWarner.
The turbocharger for commercial vehicles market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Turbocharger for Commercial Vehicles Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Turbocharger for Commercial Vehicles Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Turbocharger for Commercial Vehicles Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Turbocharger for Commercial Vehicles Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Turbocharger for Commercial Vehicles Market Size & Forecast, 2018-2028
4.5.1 Turbocharger for Commercial Vehicles Market Size and Y-o-Y Growth
4.5.2 Turbocharger for Commercial Vehicles Market Absolute $ Opportunity
Chapter 5 Global Turbocharger for Commercial Vehicles Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Turbocharger for Commercial Vehicles Market Size Forecast by Type
5.2.1 Mechanical Turbocharging
5.2.2 Exhaust Turbocharging
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Turbocharger for Commercial Vehicles Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Turbocharger for Commercial Vehicles Market Size Forecast by Applications
6.2.1 HCV
6.2.2 MCV
6.2.3 LCV
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Turbocharger for Commercial Vehicles Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Turbocharger for Commercial Vehicles Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Turbocharger for Commercial Vehicles Analysis and Forecast
9.1 Introduction
9.2 North America Turbocharger for Commercial Vehicles Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Turbocharger for Commercial Vehicles Market Size Forecast by Type
9.6.1 Mechanical Turbocharging
9.6.2 Exhaust Turbocharging
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Turbocharger for Commercial Vehicles Market Size Forecast by Applications
9.10.1 HCV
9.10.2 MCV
9.10.3 LCV
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Turbocharger for Commercial Vehicles Analysis and Forecast
10.1 Introduction
10.2 Europe Turbocharger for Commercial Vehicles Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Turbocharger for Commercial Vehicles Market Size Forecast by Type
10.6.1 Mechanical Turbocharging
10.6.2 Exhaust Turbocharging
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Turbocharger for Commercial Vehicles Market Size Forecast by Applications
10.10.1 HCV
10.10.2 MCV
10.10.3 LCV
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Turbocharger for Commercial Vehicles Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Turbocharger for Commercial Vehicles Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Turbocharger for Commercial Vehicles Market Size Forecast by Type
11.6.1 Mechanical Turbocharging
11.6.2 Exhaust Turbocharging
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Turbocharger for Commercial Vehicles Market Size Forecast by Applications
11.10.1 HCV
11.10.2 MCV
11.10.3 LCV
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Turbocharger for Commercial Vehicles Analysis and Forecast
12.1 Introduction
12.2 Latin America Turbocharger for Commercial Vehicles Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Turbocharger for Commercial Vehicles Market Size Forecast by Type
12.6.1 Mechanical Turbocharging
12.6.2 Exhaust Turbocharging
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Turbocharger for Commercial Vehicles Market Size Forecast by Applications
12.10.1 HCV
12.10.2 MCV
12.10.3 LCV
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Turbocharger for Commercial Vehicles Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Turbocharger for Commercial Vehicles Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Turbocharger for Commercial Vehicles Market Size Forecast by Type
13.6.1 Mechanical Turbocharging
13.6.2 Exhaust Turbocharging
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Turbocharger for Commercial Vehicles Market Size Forecast by Applications
13.10.1 HCV
13.10.2 MCV
13.10.3 LCV
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Turbocharger for Commercial Vehicles Market: Competitive Dashboard
14.2 Global Turbocharger for Commercial Vehicles Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 BorgWarner
14.3.2 Cummins Turbo Technologies
14.3.3 Ishikawajima-Harima Heavy Industries
14.3.4 Mitsubishi Heavy Industries
14.3.5 BorgWarner
