Electric Turbocharger Market, By Vehicle Type(Passenger, Commercial And Sports Vehicle), By Material

Published Date: May 2020 | Report Code : AT2067021

X

Electric Turbocharger Market, By Vehicle Type(Passenger, Commercial And Sports Vehicle), By Material(Magnetic And Non-Magnetic), By Application (Single-Turbo, Twin-Turbo And Other), By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World) – Market Size & Forecasting To 2028

COVID-19 Impact : Our team has been closely monitoring the current developments to identify the potential impact of COVID-19 on stakeholders and business processes across the value chain of industries. A special section about COVID-19 will be covered with the report to help companies in defining sustainable strategies.

Domain : Automotive

Report Code : AT2067021

Status : Published May 2020

The Electric Turbocharger Market size was estimated to be around USD 130.81 million in 2019, the market is further estimated to grow with the annual growth rate of more than 21% during the forecast period to reach USD 695.81 million by 2028. The growth of the market is driven by rising need among the automakers to develop more advace and fuel efficient engine systems. As the demand for the fuels across the globe is increasing rapidly, automakers are also started to focus more developing more fuel efficient engines to reduce the fuel consumption and CO2 emission. Furthermore, the stringent government regulations for the development of fuel efficiency norms for Vehicles that could moderate the rising demand of fuel is also acting as catalyst in the growth of the market.

Revenue from turbocharger sales is expected to rise globally through 2022 as an increase in content per vehicle can be expected to outpace the decrease in unit price. The market is likely to see a boost in the relative market share for gasoline turbochargers, with higher content per turbocharger than their diesel counterparts. As downsizing requirements are raised, more (complex) turbochargers will be used to compensate for the lower power of smaller engines. Technology shifts from wastegate to VGTs and electric superchargers, which will drive revenue growth for suppliers. Turbochargers are considered to be one of the key levers for reducing consumption and emissions in combustion engine and hybrid vehicles while maintaining engine performance.

FIG 1 ELECTRIC TURBOCHARGER MARKET BY SEGMENTATIONFIG 5: ELECTRIC TURBOCHARGER MARKET, BY SEGMENTATION

Performance improvements, such as increasing the capacity of turbochargers with a design that enhances air volume throughput, are at the center of technology trends. Alternative geometries, such as those used in VGT, also boost performance, and manufacturers are shifting to them more and more. Furthermore, lightweight materials are making it possible to substantially decrease turbocharger weight while boosting vehicle efficiency. This is also serving as a major driver for the growth of electric turbocharger market.

The electric turbocharger market is estimated to witness substaintial growth till 2020 due to the wide scale adoption of the electric and hybrid vehicles across the globe. The market growth trajectory will witness a sudden increase in the growth during 2021 and 2022 of electric turbochargers due to the new product launches by the major market players in the domain. For instance, Gerret Motion is preparing for what may be the first production application of an electric turbocharger in 2021. After 2022, the market growth will regularize and saturates at approximately 18-17% by 2028.

FIG 1 ELECTRIC TURBOCHARGER MARKET BY VEHICLE TYPE 2020-2028FIG 2: ELECTRIC TURBOCHARGER MARKET, BY VEHICLE TYPE 2020-2028

Based on vehicle type, electric turbocharge market is bifurcated into passenger, commercial and sports vehicle. Passenger vehicles are estimated to lead the electric turbocharger market with the share of more than 45% in revenue in 2019. The growth of the market is attributed the large scale production and sales of the passenger vehicles across the globe. Earlier, the electric turbocharger was majorly used in the sports vehicles to enhance the horsepower of the enginer. However, as the need for more fuel efficient engines are rising, the automakers started to develop electric turbocharger for the passenger vehicles. Additonally, the stringent government regulations to reduce the CO2 emission is also supporting the growth of the market. On the other hand, commercial vehicle market is estimated to gain traction with the CAGR of more than 23% during the forecast period.

FIG 2  ELECTRIC TURBOCHARGER MARKET BY MATERIAL  2020-2028FIG 3:  ELECTRIC TURBOCHARGER MARKET, BY MATERIAL  2020-2028

Based on the material, the electric turbocharger market is segmented into magnetic and non-magnetic material. Magnetic material was estimated to dominate the electric turbocharger market with the market share of more than 69% in 2019. The market growth is credited to the wide scale adoption of the cast iron material among the OEMs for the development of turbochargers. The The implementation of magnetic material in the electric turbocharger reduces the friction to a greater extent and decreases the turbo lag since the shaft of the turbocharger levitates freely and so less power is required to drive the shaft. The bearings are replaced by levitation concept hence there is no requirement for lubrication of bearings thus reducing the weight, space occupied, and making the turbocharger more efficient.

FIG 2  ELECTRIC TURBOCHARGER MARKET BY MATERIAL  2020-2028FIG 4:  ELECTRIC TURBOCHARGER MARKET, BY APPLICATION  2020-2028

Based on the application, the electric turbocharger market is categorized into single-turbo, twin-turbo and other market (it includes Twin Scroll Turbo, Variable Geometry Turbo, and Variable Twin Scroll Turbo). Single turbo was estimated to account for more than 48% share in the electric turbocharger revenue in 2019 due to the large scale adoption among the passenger vehicles. Relatively low cost of single-turbo type as compared to other variant along with the low space requirement makes it an ideal choice for the passenger vehicle.

FIG 4 ELECTRIC TURBOCHARGER MARKET BY REGION  2018-2028FIG 5: ELECTRIC TURBOCHARGER MARKET, BY REGION  2018-2028

Based on the region, the electric turbocharger market is characterized into North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World. North America is estimated to account for majorty share in the electric turbocharger market due to the large scale prdocution and sales of the sports and luxuary cars in the region. Western Europe follows the North America with the second major contributor in the revenue. On the other hand, Asia Pacific region is expected to see the most revenue growth with the CAGR of more than 23% during the forecast period. The market growth is attributed to downsizing trend for gasoline vehicles and strong vehicle growth (approximately 4 percent CAGR for combustion vehicles, including hybrids in South Asia, from 2018 to 2025), respectively. Further downsizing of combustion engines will lead to stricter technological requirements for turbochargers.

Market Segments

By Vehicle Type

  • Passenger Vehicle
  • Commercial Vehicle
  • Sports Vehicle

By Material

  • Magnetic
  • Non-Magnetic

By Application

  • Single-Turbo
  • Twin-Turbo
  • Others

Regional Analysis

  • North America
    • S.
    • Canada
    • Mexico
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Taiwan
    • Malaysia
    • Rest Of Asia Pacific
  • Western Europe
    • Germany
    • K.
    • France
    • Italy
    • Spain
    • Rest Of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • Rest Of Eastern Europe
  • Middle East
    • UAE
    • Saudi Arabia
    • Qatar
    • Turkey
    • Rest Of Middle East
  • Rest Of World
    • South America
    • Africa

Company Covered: VALEO, GARRETT MOTION INC, CALNETIX TECHNOLOGIES, LLC, IHI CORPORATION, ELECTROCRAFT, INC, BMTS TECHNOLOGY (Bosch Mahle Turbosystems GmbH), TORQAMP, Alvier Mechatronics GmbH,

Reasons To Buy This Report:

  • Market size estimation of the electric turbocharger market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

For more information, contact: [email protected]

License Offering

Single User (PDF)

3850

Multi User (PDF)

5150

Enterprise User (PDF)

7650

Get Regional Report @ USD 2000 Only

Your personal details are secure. Privacy Policy

Buy Chapters of Sections

Avail customized purchase options to meet your exact research needs.

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities
Detailed Coverage

Detailed scope covering all the major segments in the market

Meticulous Data Validations

In line data validations to ensure data precision

Recommendations

Market recommendations supporting decision making processes

Analyst Support

Round the clock analyst support to resolve your queries

Free Customization

Up to 15% additional free customization to meet your specific requirements

15% Free Customization

Share your Requirements

Questions?  Speak to an Analyst

Your personal details are secure. Privacy Policy