According to the report by Expert Market Research (EMR), the global automotive electric turbocharger market size is projected to grow at a CAGR of 12.1% between 2024 and 2032. Aided by the escalating demand for efficient and environmentally friendly vehicles, the market is expected to grow significantly by 2032.
Automotive electric turbochargers represent a significant innovation in vehicle performance and efficiency. Unlike traditional turbochargers that are driven by exhaust gases, electric turbochargers use electric motors to compress air into the engine, offering immediate throttle response and reducing turbo lag. These turbochargers are increasingly favoured in modern vehicles, including hybrids and high-performance cars, for their ability to enhance engine efficiency and reduce emissions.
The primary driver of the automotive electric turbocharger market growth is the global push towards reducing vehicular emissions and improving fuel efficiency. With stringent environmental regulations being implemented worldwide, automotive manufacturers are adopting electric turbochargers as a solution to meet these standards.
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Another significant factor contributing to market growth is the rising demand for high-performance vehicles. Electric turbochargers provide improved power output and efficiency, making them highly desirable in sports cars and high-performance models.
The advancement in electric and hybrid vehicle technology also influences the automotive electric turbocharger market outlook. As the automotive industry shifts towards electrification, the integration of electric turbochargers in hybrid and electric vehicle designs is becoming more prevalent.
Regionally, Europe leads the market, owing to its advanced automotive industry, stringent emission norms, and high adoption rate of new technologies. Asia-Pacific and North America also hold substantial market shares, driven by increasing vehicle production and growing environmental concerns.
The global automotive electric turbocharger market demand is further bolstered by the automotive industry’s shift towards more efficient and environmentally friendly vehicles, the increasing demand for high-performance vehicles, and advancements in electric and hybrid vehicle technologies. Despite facing challenges, the market is poised for continued expansion and innovation, offering significant opportunities for growth in the automotive sector in the coming years.
Automotive Electric Turbocharger Market Segmentation
The market can be divided based on propulsion type, vehicle type, sales channel, and region.
Market Breakup by Propulsion Type
- IC-Engine
- Gasoline Powered
- Diesel Powered
- Hybrid Propulsion Engine
Market Breakup by Vehicle Type
- Commercial Vehicle
- Medium-Duty Commercial Vehicle
- Heavy Duty Commercial Vehicle
- Passenger Vehicles
- Light-Duty Vehicle
- Others
Market Breakup by Sales Channel
- OEM
- Replacement
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Automotive Electric Turbocharger Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global automotive electric turbocharger market. Some of the major players explored in the report by Expert Market Research are as follows:
- Garrett Motion Inc.
- IHI Corporation
- BorgWarner Inc.
- TORQAMP
- Others
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