Global Automotive Turbocharger Market to Post 7.97% CAGR to 2023, Predicts MRFR in Its Topical Report Available at MarketPublishers.com
16 Oct 2017 • by Natalie Aster
LONDON – The world’s automotive turbocharger market has bright future prospects, this is primarily attributed to the anticipated significant uptake of the automotive industry, surging sales of passenger cars and ongoing technological innovations. The worldwide automotive turbocharger market is predicted to increase at a 7.97% CAGR in the coming years to exceed USD 24.22 billion by 2023.
In 2016, the biggest market share (40.75%) belonged to the APAC region, majorly owing to increasing vehicle production in China and India. The APAC automotive turbocharger market is poised to continue growing at a high rate, fueled by booming vehicle production, large population base, rising demand for diesel vehicles, certain emission norms and economic shifts. China grabbed the largest share of this regional market and was evaluated at over USD 2.86 billion in 2016; this country market for automotive turbochargers is set to rise at a 9.65% CAGR through 2023.
Some of the prominent players in the automotive turbocharger market include Mitsubishi Heavy Industries, Honeywell International, Precision Turbo and Engine, BorgWarner, IHI Corporation, Cummins, Continental AG, Bosch Mahle, Fengcheng Xindongli Turbocharger, amid others.
Topical research publication “Global Automotive Turbocharger Market Research Report - Global Forecast to 2023” worked out by Market Research Future (MRFR) is a trustworthy source of unique data on the market landscape, structure, dynamics and prevailing trends. It provides a detailed market segmentations analysis, reviews the major factors influencing the market growth, explores the actual market scenario across various geographical markets, uncovers updated statistics. Moreover, this report includes vital data on the competitive landscape, includes profiles of the top players, touches upon the most recent developments and also points out emerging growth challenges and opportunities. In addition, this report includes a future outlook for the automotive turbocharger market up to 2023.
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