Automotive Turbocharger Market Essay
Automotive Turbocharger Market BY dividable Europe is the highest consumer of turbochargers mainly due to the introduction of new standards such as Euro V and Euro VI which strongly emphasize on the reduction of CA as Europe accounts for almost 20% of all CA emissions with passenger cars contributing around 12%. According to European Automobile Manufacturers Association, in 2011, the total passenger cars produced in Europe accounted for 26% of the global production. Thus, in order to control the CA emissions and also provide better fuel economy, turbochargers are being used to a retreat extent.
Asia-Pacific is also another big market for turbochargers as there are big automobile manufacturing markets in China, Japan, and South Korea. In Asia-Pacific, China is the biggest market for turbochargers with a penetration rate of 18% in 2011 and a penetration rate of about 15% in passenger cars. North America is far behind Europe and Asia-pacific in the use of turbochargers in automotive. It is mainly using turbochargers in gasoline vehicles but the trend is shifting slowly due to the strict emission and fuel economy standards set by U. S.
CAFEГ? organization. The turbo penetration rate in passenger cars was Just 7%. In ROW, Brazil and Russia
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The issues in the market are mainly pertaining to that of the usage of counterfeit products; increased preference of gasoline passenger cars; and gradual shift towards electrically assisted turbochargers. The turbocharger manufacturers are closely working with their distributors and automotive manufacturers to address to the growing demands from end-users. The industry players are following strategies such as consolidation and capacity expansion to address to the demands generated by end-user industries and developing countries.