NEW
YORK, June 19, 2024 /PRNewswire/ -- The global
automotive refurbished turbochargers market size is estimated to
grow by USD 147.5 million from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 3.2% during the forecast period.
Affordability of refurbished turbochargers compared with new
replacement turbochargers is driving market growth, with a trend
towards development of electric turbochargers. However, increasing
adoption of low-cost counterfeit turbochargers by end-users poses a
challenge. Key market players include AET Engineering Ltd., BBB
Industries LLC, BorgWarner Inc., Cardone Industries Inc.,
Caterpillar Inc., Continental AG, Cummins Inc., Garrett Motion
Inc., IHI Corp., Komatsu Ltd., MAHLE GmbH, Mitsubishi Heavy
Industries Ltd., MTA Turbochargers, Recoturbo Ltd., REMANTE GROUP
s.r.o., Schouw and Co., Standard Motor Products Inc., Turboworks
Ltd., Zex Toronto, and ZF Friedrichshafen AG.
![Technavio has announced its latest market research report titled Global automotive refurbished turbochargers market 2024-2028 Technavio has announced its latest market research report titled Global automotive refurbished turbochargers market 2024-2028](https://mma.prnewswire.com/media/2441679/Technavio_Global_automotive_refurbished_turbochargers_market_2024_2028.jpg)
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Automotive
Refurbished Turbochargers Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
3.2%
|
Market growth
2024-2028
|
USD 147.5
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
3.06
|
Regional
analysis
|
APAC, Europe, North
America, Middle East and Africa, and South America
|
Performing market
contribution
|
APAC at 51%
|
Key
countries
|
China, US, Germany,
Japan, and UK
|
Key companies
profiled
|
AET Engineering Ltd.,
BBB Industries LLC, BorgWarner Inc., Cardone Industries Inc.,
Caterpillar Inc., Continental AG, Cummins Inc., Garrett Motion
Inc., IHI Corp., Komatsu Ltd., MAHLE GmbH, Mitsubishi Heavy
Industries Ltd., MTA Turbochargers, Recoturbo Ltd., REMANTE GROUP
s.r.o., Schouw and Co., Standard Motor Products Inc., Turboworks
Ltd., Zex Toronto, and ZF Friedrichshafen AG
|
Market Driver
The automotive refurbished turbochargers market is experiencing
significant growth due to the increasing adoption of electric
turbochargers. Electric turbochargers, which integrate electric
motors and turbochargers, offer several advantages. They address
the turbo lag issue, act as generators during deceleration, and
contribute to energy recuperation. These benefits make electric
turbochargers ideal for hybrid vehicles, which are becoming
increasingly popular. Additionally, electric turbochargers are less
complex to pack, enabling automotive OEMs to design modern
vehicles. Their potential to improve fuel efficiency by up to 10%
aligns with regulatory pressure to deliver fuel-efficient vehicles.
According to Technavio, the development of electric turbochargers
will continue to be a key trend in the market, creating
opportunities for manufacturers to offer refurbished electric
turbochargers.
The Automotive Refurbished Turbochargers market is experiencing
significant growth. Tech-savvy consumers prefer refurbished
turbochargers due to their cost-effectiveness and eco-friendliness.
Many automotive repair shops and parts suppliers are capitalizing
on this trend by offering high-quality refurbished turbochargers.
These components are thoroughly inspected, repaired, and tested to
ensure optimal performance. Some key players in this market include
tech-focused companies and traditional automotive parts suppliers.
The use of advanced technologies like CNC machining and electronic
testing equipment enables these players to offer reliable and
efficient refurbished turbochargers. Additionally, the increasing
popularity of older vehicle models and the growing concern for
reducing carbon footprint are driving the demand for refurbished
turbochargers.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The Asian market relies heavily on China for the acquisition of electronic
products and components in the automotive sector. Chinese vendors
provide affordable alternatives to refurbished turbochargers, but
these counterfeit versions lack manufacturing oversight and safety
measures. Despite their lower cost, which is approximately
one-tenth that of refurbished turbochargers, these counterfeit
products pose a risk to engine and vehicle components. Established
vendors must promote the advantages of high-quality refurbished
turbochargers and combat the circulation of counterfeit versions to
ensure market growth.
- The Automotive Refurbished Turbochargers market faces several
challenges. Technological changes and increasing competition
require continuous improvement and innovation. Compatibility with
various vehicle models and makes is a significant challenge.
Additionally, ensuring the quality and durability of refurbished
turbochargers is crucial to meet customer expectations.
Cost-effectiveness and quick turnaround time are also essential
factors in this market. Regulations and certifications add to the
complexity, requiring adherence to strict standards. Lastly,
maintaining a steady supply of used turbochargers for refurbishment
is a constant challenge. Addressing these challenges requires a
strategic approach, effective supply chain management, and a focus
on research and development.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This automotive refurbished turbochargers market report
extensively covers market segmentation by
- Application
- 1.1 Passenger cars
- 1.2 Light commercial vehicles
- 1.3 Medium and heavy commercial vehicles
- Fuel Type
- 2.1 Gasoline
- 2.2 Diesel
- 2.3 Alternate fuel/CNG
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Passenger cars- The Automotive Refurbished
Turbochargers Market involves the restoration and sale of used
turbochargers for various vehicle makes and models. This market
caters to the demand for cost-effective alternatives to new
turbochargers, providing significant cost savings for automotive
repair and maintenance services. Refurbished turbochargers undergo
thorough inspection, cleaning, and repair processes to ensure
optimal performance and reliability. This market continues to grow
due to increasing vehicle age and the rising trend towards
sustainable and cost-effective solutions in the automotive
industry.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The Automotive Refurbished Turbochargers Market encompasses the
remanufacturing and sale of turbochargers for Passenger cars and
light commercial vehicles. This market caters to the needs of
vehicle owners seeking engine performance enhancement, particularly
in relation to fuel economy and emissions regulations. Automotive
Original Equipment Manufacturers (OEMs) have responded by offering
technological features such as electric turbochargers and
two-staged turbochargers. However, the affordability of these
alternatives has led to the growing popularity of refurbished
turbochargers from multiple sources. Stringent regulations on fuel
types, including gasoline, diesel, and compressed natural gas,
necessitate continuous improvement in fuel economy. The prime
reasons for the market's expansion include the reliability of
refurbished turbochargers and the availability of data from
industry analysis and vendor landscape studies.
Market Research Overview
The Automotive Refurbished Turbochargers Market refers to the
industry dedicated to the restoration and sale of used
turbochargers for various automotive applications. These components
are essential for improving engine performance and fuel efficiency.
The refurbishing process involves the repair and replacement of
worn-out parts, ensuring the turbochargers meet original equipment
manufacturer (OEM) specifications. The market caters to the growing
demand for cost-effective solutions in the automotive sector,
particularly in regions with high vehicle usage and aging fleets.
The use of advanced technologies and techniques in refurbishing
contributes to the market's growth, enabling the extension of
turbocharger life and reducing the need for frequent replacements.
Additionally, the increasing popularity of diesel vehicles and the
implementation of stringent emission norms further boost the
market's growth.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Passenger Cars
- Light Commercial Vehicles
- Medium And Heavy Commercial Vehicles
- Fuel Type
-
- Gasoline
- Diesel
- Alternate Fuel/CNG
- Geography
-
- APAC
- Europe
- North America
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio