Europe Automotive Turbocharger Market - Industry Analysis, Growth, Demand, Share, & Forecast To 2027

A turbocharger is an integral part of any internal combustion engine that enhances the performance of the vehicle. A turbocharger increases the amount of air intake in the combustion chamber with the help of unused exhaust air. Also, the turbocharger plays an important role in improving the efficiency of a particular vehicle. Turbochargers are gaining popularity in Europe as a result of their benefits such as lower harmful emissions, increased fuel economy, and improved engine performance. From the research, it has been estimated that a turbocharger fitted to a 1.8-litre engine can deliver the peak power of a 3-litre naturally aspirated unit. However, it uses 15% less fuel compared to conventional vehicles. Demand for turbochargers in Europe is rapidly increasing because direct injection diesel engines are witnessing higher adoption in passenger cars. Currently, more than 75% of new vehicles sold in Europe are equipped with turbochargers, and this figure is expected to rise by the forecast period. In the European automotive industry, large naturally aspirated engines are being replaced by smaller and more efficient turbo engines. Turbo-charging is considered a mature technology across the region. In addition to that, recent developments in the automotive industry have also significantly boosted the demand for turbochargers in Europe. According to the research report, "Europe Automotive Turbocharger Market Outlook, 2027" published by Actual Market Research, the automotive turbocharger market is projected to have a 13.12% CAGR during the forecast period. The advent of strict emission regulations and fuel-efficiency norms enforced by the European government are expected to drive the market growth for turbochargers. In addition to that, demands for downsizing of engines in order to reduce overall weight are estimated to boost the need for turbochargers across the region. As a global leader in engineering and manufacturing, the Mitsubishi Heavy Industries (MHI) group delivers innovative and integrated products into a wide range of industries. As for the European region, the company has a division named Mitsubishi Turbocharger and Engine Europe B.V. The European automotive turbocharger market is segmented into six countries, including Germany, the United Kingdom, France, Italy, Spain, and Russia. Among these countries, Germany is anticipated to have the maximum market share during the forecast period. Germany has substantial potential for hybrid and electric vehicle development due to rising demand for hybrid and electric vehicles across the country. The presence of major manufacturers in the country, such as Cummins, Mitsubishi, and BorgWarner, is fuelling the market. For that reason, Germany has become the essential centre for research and development for product innovation. According to OICA statistics, total vehicle production in Germany was calculated to be 986635 units. During the forecast period, this ratio is anticipated to reach more than 2372700 units.

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According to the report, the European automotive turbocharger market is segregated into three technology types: variable geometry turbochargers, wastegate turbochargers, and electric turbochargers. Among these types, the variable geometry turbocharger segment is projected to lead the market with more than 70% of the market share in terms of value. Higher VGT performance and increased GDI popularity are expected to drive future turbocharger adoption in Europe. Variable geometry turbochargers are mostly used in diesel-powered engines. That propels the higher adoption of diesel engines as well. The market is categorized into two types based on the fuel type: diesel and gasoline. Higher adoption and cost-efficient qualities of diesel engines are boosting the demand for them. However, the gasoline segment is expected to witness higher market growth during the forecast period due to the higher penetration of various industries in this segment. The European automotive turbocharger market is further segmented into two vehicle types: passenger vehicles and commercial vehicles. Among these types, the passenger vehicle segment is expected to lead the market by holding more than 85% of the market share by 2027. Higher production and the emergence of passenger cars compared to commercial vehicles in Europe are fuelling the market's growth. The market is divided into two types based on the sales channel: original equipment manufacturer (OEM) and aftermarket. Among these types, original equipment manufacturers are expected to acquire a higher portion of the market during the forecast period in Europe. On the other hand, the aftermarket sales channel is projected to rise with a promising CAGR of more than 20% during the forecast period. Impact of Covid-19 on Europe automotive turbocharger Market: The Covid-19 pandemic had severely affected the Europe turbocharger market. The most direct impact of the pandemic was the temporary halt of many OEMs, production plants and supplier factories. Various companies present across the region have been impacted heavily in Europe region. The imposed lockdown followed by the closure of international borders has resulted into major drop in automotive production and sales. Also, companies reduced their employee strength to reduce the expanses in order to handle post pandemic scenario. However, due to the positive outlook of automotive industry across the region, demands for turbochargers are expected to rise exponentially by 2027.

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Kripa Shah

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Major Companies present in the market: Garrett Motion Inc., Cummins Inc., Borgwarner Inc., Continental AG, Ishikawajima-Harima Heavy Industries Co., Limited, Mitsubishi Heavy Industries Limited, Turbo Energy Private Limited, Hunan Tyen Machinery Co., Ltd., Rotomaster International, BMTS Technology GmbH & Co. KG, FengchengXindongli Turbocharger Co., Limited, Bullseye Power Turbo Chargers LLC., The Turbo Engineers Gmbh, KompressorenbauBannewitz GmbH, Magnum Performance Turbos, Inc., Precision Turbo & Engine Inc. ,Turbonetics, Inc., Ningbo Motor Industrial Co., Ltd, Marelli Corporation and Banks Power Considered in this report • Geography: Europe • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Europe Automotive Turbocharger market with its value and forecast along with its segments • Country-wise automotive turbocharger market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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Countries covered in the report • Germany • United Kingdom • France • Spain • Italy • Russia Types of Technology in the report: • Variable Geometry Turbocharger • Wastegate Turbocharger • Electric Turbocharger By Vehicle Type in the report: • Passenger Vehicle • Commercial Vehicle Type of Fuel in the report: • Gasoline • Diesel Type of Sales Channel in the report: • Original Equipment Manufacturer • Aftermarket The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to automotive turbocharger industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.