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Report
Automotive Supercharger Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 100 Pages I Mordor Intelligence
The Automotive Supercharger Market was valued at USD 8.0 Billion in the current year and is projected to grow to USD 10.0 Billion, registering a CAGR of 4.5% in terms of revenue during the forecast period.
The COVID-19 pandemic hindered the growth of the automotive industry across several regions in the year 2020. Several manufacturing industries were closed. The supply chain management and distribution channels were disrupted due to a shortage of raw materials. However, the automotive industry is now recovering from the losses and paving the way to introduce quality products to cater to the rising demand from consumers across the country. The automotive industry witnessed significant growth in terms of production in 2021, which is likely to increase the demand for superchargers during the forecast period.
Over the medium term, the Rise in vehicle production is likely to increase the demand for superchargers during the forecast period. The growing consumer trend toward lightweight vehicles is also a key factor that helps to drive the growth of the market.
Due to the increase in demand for high-power output and better efficiency. Root blowers are only 40-50% efficient at high boost levels. By contrast, centrifugal (dynamic) superchargers are 70-85% efficient at high boost levels.
The world is facing global fuel and natural resources crisis, Automobile consumers don't mind purchasing high-end and high-performance cars as long as the product design, value, and comfort levels match their expectations. A few factors are responsible for the growth of the automotivesupercharger market.
Automobile manufacturers face competition from several global players, with each automaker trying to differentiate itself from other manufacturers through unique product offerings.
Asia-Pacific is witnessing significant growth in the market owing to an increase in vehicle sales. As the region witnesses, almost 50% of the vehicles sold globally are from this region, and also due to the presence of major automotive hubs like China, India, and Japan. The need for power has been increasing year-on-year.
Automotive Supercharger Market Trends
Growing Demand for Supercharged Luxury Cars
Improved engine output and easy-to-install, operate, and maintain assembly are some key factors responsible for the growing adoption of automotive superchargers.
The addition of a supercharger to a vehicle engine is one of the quickest solutions to increase the engine output power. Owing to superchargers' real-time power delivery, it is a common addition in airplane internal combustion engines.
However, turbochargers, which also work like superchargers, present a threat to the adoption of superchargers due to their growing popularity with luxury and exotic cars. Also, the high cost of development of automotive superchargers because of the usage of heavy-duty components in it is expected to be a limiting factor for market growth.
Multistate supercharging, which results in reduced carbon emissions, higher fuel efficiency, and torque enhancement, is likely to be a major trend in the coming years.
Recent advancements in automotive technology and growing awareness about such systems are also projected to boost market growth over the forecast period. Though the number of luxury cars featuring supercharger systems is limited in emerging markets, their numbers will grow rapidly in the future. The major issues regarding superchargers are the high maintenance costs. Also, most of the SUV buyers in the emerging markets drive their off-roaders on paved roads in the cities and have little need to have safety systems.
Asia-Pacific to Witness Significant Share
Asia-Pacific is currently the largest market in the world, as almost 50% of the vehicles sold globally are from this region due to the presence of major automotive hubs like China, India, and Japan. The need for power has been increasing year-on-year. Asia has witnessed a change in the trend toward downsizing engines, wherein equipping a V6 with a supercharger is found to be more efficient than equipping a vehicle with a V8 engine.
It is estimated that more than 45% of vehicles sold worldwide are expected to be gasoline-engine vehicles by the end of 2020. The increase in demand for power is expected to drive gasoline vehicles toward supercharging. The rise in new vehicle sales in major Asian countries such as China, India, and Japan is likely to witness major growth for the market during the forecast period. The new vehicle sales in China, including passenger and commercial vehicles, registered YOY growth of around 4% in 2021 compared to 2020. Whereas, in India, passenger and commercial vehicles registered the highest YOY growth of around 28% in 2021 as compared to the previous year, 2020.
Rising CO2 emissions, especially in the Asia-Pacific region, have convinced automakers to improvise their engines by installing a supercharger, as these help in complete and better combustion, which reduces the risk of harmful emissions.
The above-mentioned development across the region is likely to witness significant growth for the market during the forecast period.
Automotive Supercharger Market Competitor Analysis
The automotive supercharger market is dominated by players such as Garret Motion, BrogWarner Inc., Mitsubishi heavy industries, IHI, and others. These Companies are expanding their business with new innovative supercharger systems to have the edge over their competitors. Major supercharger manufacturers supply superchargers to new vehicle models across the globe. For instance, In October 2022, BorgWarner Inc. expanded its manufacturing facilities in the United States. Through this expansion, the company expanded its production capacity. And In June 2021, Garett Motion expanded its production facility in Wuhan, China, to meet increasing customer demand.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter Five Forces
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD Billion)
5.1 Technology
5.1.1 Centrifugal Supercharger
5.1.2 Roots Supercharger
5.1.3 Twin-screw Supercharger
5.2 Fuel Type
5.2.1 Gasoline
5.2.2 Diesel
5.2.3 Electric
5.3 Power Source
5.3.1 Engine Driven
5.3.2 Eelctric Motor Driven
5.4 Sales Channel
5.4.1 OEM
5.4.2 Aftermarket
5.5 Vehicle Type
5.5.1 Passenger Cars
5.5.2 Commercial Vehicles
5.6 Geography
5.6.1 North America
5.6.1.1 United States
5.6.1.2 Canada
5.6.1.3 Mexico
5.6.1.4 Rest of North America
5.6.2 Europe
5.6.2.1 Germany
5.6.2.2 United Kingdom
5.6.2.3 France
5.6.2.4 Italy
5.6.2.5 Spain
5.6.2.6 Rest of Europe
5.6.3 Asia-Pacific
5.6.3.1 India
5.6.3.2 China
5.6.3.3 Japan
5.6.3.4 South Korea
5.6.3.5 Rest of Asia-Pacific
5.6.4 South America
5.6.4.1 Brazil
5.6.4.2 Argentina
5.6.4.3 Rest of South America
5.6.5 Middle-East
5.6.5.1 United Arab Emirates
5.6.5.2 Saudi Arabia
5.6.5.3 Rest of Middle-East
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 BorgWarner Inc.
6.2.2 Eaton Corporation PLC
6.2.3 MITSUBISHI HEAVY INDUSTRIES, LTD.
6.2.4 Valeo SA
6.2.5 Honeywell Inc.
6.2.6 IHI Corporation
6.2.7 Vortech Engineering
6.2.8 Federal-Mogul Corporation
6.2.9 Garrett Motion Inc.
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