Automotive Turbocharger Market Industry Size, Share, Trend Analysis 2022
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global automotive turbocharger market was worth USD 11.9 billion in 2021. According to the study, the market is estimated to grow at a CAGR of 10.2% during the forecast period, i.e., 2022-2028, thereby reaching revenue figures of around USD 23.5 billion by 2028. The global automotive turbocharger market is experiencing high growth due to the growing demand for lightweight engines and the increasing production of passenger and heavy vehicles. In addition, governments in various countries are enforcing strict regulations regarding the emissions from fuel vehicles, which is likely to drive market growth over the forecast period. However, the increasing penetration of electric vehicles may act as a huge restraining factor for market growth. Rising Demand for Diesel Engine is Propelling the Global Automotive Turbocharger Market Forward Bas...