According to the new market research report "Automotive Turbocharger Market by Technology (VGT, Wastegate, Electric), Material (Cast Iron, Aluminum), ICE & Hybrid Vehicle, Fuel Type, Off-Highway (Agricultural, Construction, Locomotive), Aftermarket, and Region - Global Forecast to 2025", The automotive turbocharger market is estimated to be USD 16.87 billion in 2018 and is projected to reach USD 31.61 billion by 2025, at a CAGR of 9.39%, from 2018 to 2025.
Addition to that changing consumer preferences for greater power generating vehicles, increasing use of gasoline turbocharger and stringent emission regulations.Download our free PDF Brochure and gain crucial industry insights that will help your business grow:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=919HEV is projected to have the largest demand for automotive turbochargers in the near futureThe growth of the application of turbocharger in HEV will greatly be seen in North America and Europe region due to their advanced state of the art technology and strict emissions norms.
Particularly high-end cars such as Lexus ES, and Mercedes E-Class, among others.
Even these regions are providing various incentives and tax rebates for the purchase of HEVs, which is ultimately driving the HEV market in North America and Europe regions.Request for free Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=919Asia Oceania is projected to be the largest and the fastest growing automotive turbocharger marketThe Asia Oceania market is estimated to account for the largest share, by value, in 2018.
Browse and in-depth TOC on Automotive Turbocharger Market 105 - Tables59 - Figures 163 – Pages Electric turbocharger market is expected to have the fastest growth in automotive turbocharger market, by technologyElectric turbochargers are turbochargers using an electric motor to overcome the time lag of the exhaust gas-driven turbine.
There are many developments going on across the world.