Adoption of Engine-Downsizing Strategies Drives Global Turbocharger Market Growth to 2027 - ResearchAndMarkets.com
The global turbocharger market is on track to reach a value of US$18.67 billion by 2023, exhibiting a robust compound annual growth rate (CAGR) of 6.90% over the forecast period from 2022 to 2027.
- The global turbocharger market is on track to reach a value of US$18.67 billion by 2023, exhibiting a robust compound annual growth rate (CAGR) of 6.90% over the forecast period from 2022 to 2027.
- The market's growth is primarily attributed to the adoption of engine-downsizing strategies by Original Equipment Manufacturers (OEMs) to enhance vehicle fuel economy, driven by stringent global automotive pollution standards.
- By Engine Type: The market report categorizes the global turbocharger market into three engine types: gasoline, diesel, and hybrid.
- The global turbocharger market is divided into four key regions: North America, Europe, Asia Pacific, and Latin America, Middle East & Africa (LAMEA).