Global Turbocharger Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Application;

Global Turbocharger Market for LCVs, Global Turbocharger Market for MCVs and Global Turbocharger Market For HCVs.

By Fuel Type ;

Gasoline, Diesel, Other

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn218354606 Published Date: March, 2025 Updated Date: April, 2025

Introduction

Global Turbocharger Market (USD Million), 2021 - 2031

In the year 2024, the Global Turbocharger Market was valued at USD 20,025.14 million. The size of this market is expected to increase to USD 28,555.24 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 5.2%.

The global turbocharger market industry is poised for significant growth in the coming years due to its ability to enhance engine performance and fuel efficiency. Turbochargers, which convert exhaust gas from spent fuel into power, are increasingly favored by car manufacturers. This technology allows for smaller combustion engines, potentially reducing fuel consumption by over 30%. Additionally, turbocharged engines offer lower CO2 emissions, better fuel efficiency, and improved engine performance compared to non-turbocharged engines. Turbochargers enable driving with low engine loads and light pedal pressure for acceleration, contributing to cleaner exhaust by significantly reducing particulate matter emissions. These benefits result in reduced fuel usage and minimal environmental impact.

Despite the advantages, the current conventional turbocharger market faces constraints such as market maturity, a swift transition to hybrid vehicles, and stringent regulations. However, leading industry players are developing advanced turbochargers for fuel cell and electric vehicles, presenting a substantial market opportunity during the forecast period. The rapid increase in vehicle production and sales will positively influence the industry's prospects. Over the past few decades, the turbocharger industry has evolved to become more adaptable, reliable, efficient, and robust. Automakers and product manufacturers, particularly in developed countries, are investing substantial resources and capital into this sector.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Application
    2. Market Snapshot, By fuel type
    3. Market Snapshot, By Region
  4. Global Turbocharger Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Stringent Emission Regulations
        2. Rising Demand for Performance and Fuel Efficiency
        3. Rising Disposable Incomes and Emerging Markets
      2. Restraints
        1. Higher Initial Cost
        2. Installation Complexity
        3. Durability Concerns
      3. Opportunities
        1. Electric Turbochargers
        2. Aftermarket Sales
        3. Focus on Lightweight and Efficient Designs
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry

  5. Market Segmentation
    1. Global Turbocharger Market, By Application, 20254 - 2031 (USD Million)
      1. Global turbocharger market for LCVs
      2. Global turbocharger market for MCVs
      3. Global turbocharger market for HCVs
    2. Global Turbocharger Market, By Fuel Type , 20254 - 2031 (USD Million)
      1. Gasoline
      2. Diesel
      3. Other
    3. Global Turbocharger Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. BorgWarner
      2. Cummins Turbo Technologies
      3. Honeywell
      4. Ishikawajima-Harima Heavy Industries (IHI)
      5. Mitsubishi Heavy Industries (MHI)
  7. Analyst Views
  8. Future Outlook of the Market