Turbocharger Market Size to Reach USD 64.69 Bn By 2032

The global turbocharger market size was valued at USD 34.6 billion in 2023 and is projected to reach around USD 64.69 billion by 2032, growing at a CAGR of 7.2% from 2023 to 2032.

Key Points:

  • Europe region led the global market in 2022.
  • By Technology, the twin-turbo segment has accounted revenue share of 46% in 2022.
  • By Material, the cast Iron segment has generated a revenue share of 69% in 2022.
  • By Fuel Type, the diesel segment has captured a revenue share of around 59% in 2022.
  • By End User, the OEM type has held 68% of the total revenue share in 2022.

Turbocharger Market Size 2023 To 2032

The turbocharger market is an essential segment of the automotive industry, focusing on increasing engine efficiency and performance by utilizing exhaust gases to drive a turbine that compresses air into the engine. Turbochargers are widely used in passenger and commercial vehicles, as well as in off-highway vehicles and marine and aerospace applications. The market is driven by the need for improved fuel efficiency and power output while reducing emissions.

Get a Sample: https://www.precedenceresearch.com/sample/3268

Growth Factors

The turbocharger market is expected to grow significantly in the coming years due to various factors. Increasing demand for fuel-efficient vehicles with enhanced performance drives the adoption of turbochargers. Strict government regulations on vehicle emissions and fuel consumption also push automakers to implement turbocharging technology. Additionally, the rise in the adoption of downsized engines with turbochargers to maintain power output and efficiency supports market growth.

Region Insights

The turbocharger market shows variations in demand and growth across different regions. In North America and Europe, stringent emission norms and the popularity of high-performance vehicles fuel the market. Asia-Pacific, especially China and India, are witnessing rapid growth due to increasing automotive production and the rising demand for fuel-efficient vehicles. Emerging markets in Latin America and the Middle East and Africa are also projected to grow as they adopt modern automotive technologies.

Turbocharger Market Scope

Report Coverage Details
Market Size in 2023 USD 34.6 Billion
Market Size by 2032 USD 64.69 Billion
Growth Rate from 2023 to 2032 CAGR of 7.2%
Largest Market Europe
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered By Technology, By Fuel Type, By Application, By Material, By End-User, and By Actuators
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Turbocharger Market Dynamics:


The market is primarily driven by the increasing focus on fuel efficiency and emission reduction. Turbochargers enable smaller engines to deliver higher power output while maintaining fuel economy. This makes them attractive to both consumers and manufacturers. The growth of electric and hybrid vehicles also plays a role in expanding the market as turbochargers are integrated into these vehicles to enhance performance.


The turbocharger market presents numerous opportunities for growth and innovation. The development of advanced materials and technologies, such as electric turbochargers and variable geometry turbochargers, can further improve efficiency and performance. Moreover, the growing adoption of turbocharging in off-highway and marine vehicles presents untapped potential for market expansion.


Despite the growth prospects, the turbocharger market faces certain challenges. Competition from alternative technologies like superchargers and electric propulsion systems may pose a threat. Additionally, the complexity and cost of turbocharging technology can be a barrier for some manufacturers and consumers. Ongoing research and development efforts are needed to address these challenges and improve the reliability and affordability of turbochargers.

Read Also: Autonomous Aircraft Market Size to Hit US$ 40.93 Bn by 2032

Recent Developments:

  • Garrett Motion Inc. (Honeywell) introduced the TR25R, TR30R, AND TR35R in May 2022. These new titanium housings have a water-cooled function for effective operation and optimal safety.
  • In an auto show held in Shanghai in April 2022, Garrett Motion Inc. (Honeywell) introduced Next-Generation E-Boosting Technologies, which would be utilized in hybrid fuel cell cars to improve fuel efficiency and lower exhaust emissions.
  • The HOLSET M turbocharger, created especially for heavy-duty and off-highway applications, was introduced by Cummins Inc. in May 2021. To accommodate the requirements of various applications, it comes in a variety of sizes and configurations.

Turbocharger Market Companies

  • Rotomaster International
  • BorgWarner Inc.
  • Turbo Dynamics Ltd.
  • IHI Corporation
  • Cummins Inc.
  • Honeywell International Inc.
  • Eaton
  • Precision Turbo & Engine
  • Garrett Motion Inc.

Segments Covered in the Report:

By Technology

  • Twin-Turbo
  • Wastegate Technology
  • Variable Geometry Technology

By Fuel Type

  • Diesel
  • Gasoline

By Application

  • Light Commercial Vehicle
  • Heavy Commercial Vehicle
  • Ships & Aircrafts
  • Agriculture & Construction
  • Locomotives

By Material

  • Cast Iron
  • Aluminum

By End-User

  • Original Equipment Manufacturer
  • Aftermarket

By Actuators

  • Hydraulic
  • Pneumatic
  • Electric

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Email: sales@precedenceresearch.com

Web: https://www.precedenceresearch.com

Blog: https://www.expresswebwire.com/

Blog: https://www.uswebwire.com/

Blog: https://www.dailytechbulletin.com/

Leave a Reply

Your email address will not be published. Required fields are marked *