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What's Driving the Automotive Turbocharger Market Growth? Top Players are BorgWarner Inc., BMTS Technology, Cummins Inc., IHI Corporation, Linamar Corporation, Montupet, Rotomaster
Automotive Turbocharger Market
Powered by the extensive penetration of passenger cars in the continent in tandem with the presence of a stringent regulatory landscape to retain an analysis on automotive emissions, Europe automotive turbocharger market is expected to traverse alongside a profitable growth graph over 2018-2024. Indeed, the regional industry trends are also expected to gain momentum pertaining to the presence of prominent automobile manufacturers such as VQ, Volvo, BMW, Mercedes Benz, and Audi in the continent.
OEMs are renowned to use turbochargers for creating some of the most fuel-efficient vehicles across major geographies. For instance, the turbocharger fitted 2011 Chevy Cruz of US delivers a 42 mpg on the highway - supposedly a leading rating by the EPA. In Europe, the turbocharged 2010 Volkswagen Polo held the position for the most fuel-efficient car in the world with world's first turbo gasoline-electric hybrid BMW X6 ActiveHybrid.
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The progressive shift toward a greener, environment-friendly future has been a major driving force for automotive turbocharger market. In an era riddled with the fear of carbon emissions destroying the planet, automakers have been facing several challenges to optimize vehicle efficacy in the best means possible. Consequently, most of the automakers have now been working on bringing about suitable design and operational changes in turbochargers - the highly efficient components that play a major role in downsizing engine emissions.
The incredible advantages of these induction devices have ensured an escalating demand for renewed turbocharging technologies. In consequence, pivotal automotive turbocharger market players have been working toward extending their regional reach by constructing new production facilities across various geographies. An instance validating the same is that of BorgWarner having opened its new turbocharger technology production plant in Thailand recently.
Environmental concerns have led to automotive manufacturers striving to innovate novel methods of trying to bring down CO2 levels caused by automotive fumes. This has, on one hand, given rise to a completely new breed of automobiles - the acclaimed EVs. On the other hand, internal combustion engine vehicles have been increasingly modified to weigh less and be more fuel efficient. Turbochargers have indeed been a game changer in the automotive industry in this case, as far as mileage has been concerned. They have in fact proved themselves to be a green technology where wasted energy is harvested to enhance engine performance without any added pollution, stimulating automotive turbochargers market trends.
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It would be prudent to mention that the automotive turbochargers market has a highly competitive landscape with well renowned names such as Honeywell, Federal-Mogul, BorgWarner, Mitsubishi Heavy Industries, Cummins Turbo Technologies, Weifang Fuyuan, Montupet, and IHI Corporation. Quite expectedly, these giants are constantly vying with each other to achieve market prominence. The steep competition has prompted a rise in investments in research and development, bringing about advanced technological innovations that would stimulate automotive turbocharger market.
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