Overview of the global turbocharger market for commercial vehicles

The global turbocharger market for commercial vehicles is anticipated to grow at a steady rate and will post a CAGR of more than 8% during the forecast period. According to the industry research report, the growing demand for low emission vehicles will drive the growth prospects for the global turbocharger market until the end of 2020. Many countries across the globe are taking initiatives to reduce carbon emissions. For instance, European Union (EU) is implementing stringent rules across all sectors of the economy to control greenhouse gas (GHG) emissions and is taking Historic Commercial Vehicle (HCVs) and the road freight sector into consideration to achieve this goal. It has been observed that the HCV segment is the second largest segment in the US and collectively contributes the highest emissions and energy use in the US transportation sector. To improve fuel efficiency and cut down on carbon emissions, the US Environmental Protection Agency (EPA) and the US Department of Transportation's National Highway Traffic Safety Administration (NHTSA) have endeavored jointly to fix the standards for MCVs and HCVs.

The growing use of titanium compressor wheels will drive the growth prospects for the global turbocharger market for commercial vehicles in the forthcoming years. Compressor wheels are usually made from aluminum alloys because these alloys exhibit an excellent ratio between strength, density, and casting ability. However, at present almost all the major tier-1 suppliers are using titanium aluminide compressor wheels in their turbochargers. Some of the major factors responsible for the growing preference of titanium compressor wheels include the endurance to high temperature, low weight, low inertial drag, high responsiveness, and ability to function under high pressure.

Competitive landscape and key vendors

The global turbocharger market for commercial vehicles is highly competitive and diversified due to the presence of well-established vendors. Most of these established vendors are focusing on increasing their customer base and investments in research and development activities. Also, it has been estimated that the market will witness an increase in the competitive environment due to the growing technological advancements.

Key vendors in this market are -

• BorgWarner
• Cummins Turbo Technologies
• Honeywell
• Ishikawajima-Harima Heavy Industries
• Mitsubishi Heavy Industries

Other prominent vendors in the market include Bosch Mahle Turbo Systems, Gale Banks Engineering, Magnum Performance Turbos, Precision Turbo and Engine, and Turbo Energy.

Segmentation by application and analysis of the turbocharger market for commercial vehicles

• HCVs
• MCVs
• LCVs

The LCV segment accounted for the maximum market share during 2015 and will continue to dominate the market for the next few years. Some of the major factors responsible for the growing market segment’s size is the increasing focus of OEMs on the manufacture of downsized commercial vehicles and the commercial utilization of LCVs for business purpose.

Segmentation by geography and analysis of the turbocharger market for commercial vehicles

• Americas
• APAC
• EMEA

In terms of geography, the Americas and APAC witnessed equal market shares during 2015. However, during the forecasted period, the Americas is expected to dominate the market. One of the major factors responsible for the market’s growth in the region is the increasing trend for downsizing of fleet vehicles.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global turbocharger market for commercial vehicles?
• What are the key market trends impacting the growth of the global turbocharger market for commercial vehicles?
• What are the challenges to market growth?
• Who are the key vendors in the global turbocharger market for commercial vehicles?
• What are the market opportunities and threats faced by the vendors in the global turbocharger market for commercial vehicles?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global turbocharger market for commercial vehicles?

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