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(Transportation-News.com, February 09, 2019 )
Stratview Research announces the addition of a new market research report on Global Turbocharger Market by Vehicle type (On-Highway Vehicles: Passenger Car, Light Duty Vehicle, Medium & Heavy Duty Vehicle, and Off-Highway Vehicles: Tractor and Construction Equipment), by Charger Type (Turbocharger and Supercharger), by Technology (VGT/VNT, Wastegate, and Twin Turbo), by Fuel Type (Gasoline and Diesel), by Region (North America, Europe, Asia-Pacific, and RoW), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2016-2021.
The Global Turbocharger Market: Highlights
Stratview Research foresees a sustainable growth of CAGR 10.8% in the turbocharger market over the next five years (2016 – 2021), which offers an opportunity to the automotive industry players to align themselves with the market growth.
There are a number of factors bolstering the growth of turbocharger in the global automotive industry. Growing vehicle production coupled with the requirement for automakers to meet global environment emission and fuel efficiency regulations are the prime drivers of the turbocharger market. Increasing penetration / installation rates of turbochargers in the gasoline engine powered vehicles is expected to be the driving force of the market during the forecast period.
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Variable geometry turbocharger (VGT), also known as variable nozzle turbine (VNT) is the most widely used turbocharger worldwide. VGT / VNT is more efficient than traditional wastegate turbochargers and will continue to gain market share during the forecast period.
Asia-Pacific is likely to remain the largest market for turbochargers over the next five years, driven by demand in emerging economies, such as China and India. China is the world’s fastest growing automotive market and is projected to increase the turbocharger installation rates in its new vehicles from current 28% to 49% in the year 2021.
North America is another growing market for turbochargers, driven by the demand for light weighting and engine downsizing in new vehicles to meet the CAFÉ standards. European turbochargers market is likely to witness a modest growth over the next five years. This region owns the world’s largest turbo diesel fleet and the highest turbocharger installation rates worldwide.
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Stratview Research
Ritesh Gandecha
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Source: EmailWire.Com 
Source: EmailWire.com
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