Fort Worth, Texas – The North America turbocharger market is expected to reach $3024.1 million by 2019, an annual growth rate of 10.9% from 2014 to 2019.
The North America turbocharger market is classified on the basis of vehicle type, fuel type, and country. The vehicle segment is further categorized into passenger cars, light commercial vehicles, and heavy commercial vehicles. The fuel segment is classified into diesel fuel powered and gasoline powered turbochargers. Countries taken considered include the U.S., Mexico, and Canada.
As of 2014, the U.S. was estimated to hold the largest share in the North America turbocharger market, followed by Mexico. The gasoline powered turbocharger market was estimated to account a maximum share in 2014, followed by diesel fuel powered turbocharger market.
Currently, Europe is a leader in turbochargers production by volume, followed by Asia-Pacific and North America. Factors such as, engine downsizing, lower carbon emissions, and stringent fuel efficiency norms are driving the North America Turbocharger market.
On the other hand, factors such as high cost turbocharger and increasing trend of battery operated vehicles are restricting the growth of this market. However, increasing governmental norms on pollution offer new growth opportunities to the market players of turbochargers.
BorgWarner, Honeywell, and Cummins are the major players in the North America turbocharger market.
The Europe Turbocharger Market is estimated to grow at a CAGR of 10.3% from 2014 to 2019. Germany holds the largest market share in the European turbocharger market and is expected to grow at the highest CAGR of 6.6% in the forecast period, followed by the U.K., France, and Spain.
Source: MicroMarket Monitor