Global automotive turbocharger market volume is expected to reach 39.45 million units converting into total revenue of $12.63bn by 2017, according to a report from the Markets and Markets.
According to the report, gasoline turbochargers will have the largest segment with Europe being the highest consumer of the turbochargers.
Since the introduction of Euro V and Euro VI standards, which stress on the reduction of CO2, the amount of emissions in the Europe has decreased to 20% in 2012 from 26% in 2011.
The Asia-Pacific with China, Japan, and South Korea markets for turbochargers accounts to 18% in 2011 and a penetration rate of about 15% in passenger cars.
North America with 7% of the turbochargers in gasoline vehicles is shifting slowly due to the strict emission and fuel economy standards set by the US CAFé organization.
The companies that provide the turbochargers include Honeywell International, BorgWarner, Mitsubishi Heavy Industries, IHI, Cummins Turbo Technologies, Bosch Mahle Turbosystems and Continental.
