Albany, New York, December 28, 2016: The latest report focusing on the turbocharger market has been recently added to the online database of Market Research Hub’s repository. This study provides an in-depth study to understand the current market status & growth scenarios for the coming years. It is entitled as “Global Turbocharger Market for Commercial Vehicles 2016-2020”. Key regions focused in the report includes the Americas, EMEA and APAC. According to the key findings, analysts have forecasted the global turbocharger market for commercial vehicles to expand at a CAGR of 8.36% till the end of 2020.
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Initially, the report briefly highlights the scope of turbo chargers and its market overview in the above regions. It has also been observed that, the main motto of the engineers who prepare turbochargers is focused on more power, more speed and maximum horsepower for better performance. It is widely used in cars and commercial vehicles because they allow smaller-capacity to have better fuel economy, reduced emission and improve power efficiency. It is a performance part that will boost the power of an engine by 50-60%. The EU is implementing stricter rules to control GHG emissions because in this region trucks account for about 30% of CO2 emissions from road transport. Also one of the major challenges for the market is the development of hybrid and electric commercial vehicles.
In the next section, the report segregates the market on the basis of applications along with geographical segmentation. By applications, it covers the following three segments:
Among these, the LCV segment is the main driver for the growth of the turbocharger market in commercial vehicles. In 2015, it has dominated the market with 60% of the overall market share but recent report studies that, the market is highly dominated by the HCV segment with 75% market share.
The report also shares one of the key trends i.e. the growing adoption of sequential twin-turbo technology because it is an effective measure to reduce smoke emission at low speed. As per the research study, geographically, in the Americas, the market is expected to grow at a strong CAGR of 11.61% by 2020. This is because of the increase in the downsizing of fleet vehicles. In EMEA, it will reach 3.20 million units by 2020 and in APAC it would acquire 4.24 million units till 2020. Moreover, in Japan, the demand for commercial vehicles will increase due to the Tokyo Olympics 2020.
Key vendors currently operating in the market are as follows:
- Cummins Turbo Technologies
- Ishikawajima-Harima Heavy Industries
- Mitsubishi Heavy Industries
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Additional prominent vendors are Magnum Performance Turbos, Gale Banks Engineering, Precision Turbo & Engine, and Turbo Energy.
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