The compressor wheel market was valued at ~$2,650 million in 2020. The market is forecast to grow at a CAGR of ~4.3% during the forecast period from 2021-2027.
A turbocharger assembly consists of compressor wheels that are connected by a solid shaft to the exhaust gas turbine. The turbocharger is a component of an internal combustion engine that boosts intake air pressure. The fuel used by turbochargers is gasoline or diesel. In addition, OEMs and third-party vendors in the aftermarket sell the compressor wheel, a component of turbochargers.
Factors Affecting the Global Compressor Wheel Market
- Vehicle manufacturers are developing lightweight engines in order to bolster the efficiency of their cars and reduce pollution resulting from carbon emissions, following the implementation of stringent norms for curbing carbon emissions. Turbocharger development resulted from this, contributing to the growth of the market.
- With the rise of vehicles with high gas mileage and power outputs, turbochargers are expected to benefit from the push towards they are more fuel-efficient and powerful.
- The introduction of electric vehicles will cause a decline in the use of turbocharged engines, and this will ultimately restrict demand for compressor wheels, thus inhibiting the market growth.
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Impact of Covid-19 on the Global Compressor Wheel Market
Industries most affected by the outbreak of Covid-19 were manufacturing and logistics. There was a drastic reduction in the number of manufacturing activities. In the global economy, transportation and construction activities were hindered as well as their supply chains. Thus, the manufacturing of compressor wheels plunged, directly affecting the market’s growth. However, manufacturing and services are gradually getting back to normal. Additionally, turbochargers and compressor wheel companies will once again begin production at their full scale, which will assist in driving the compressor wheel market toward recovery by the end of 2021.
Regional Analysis: the Global Compressor Wheel Market
The American market for compressor wheels is expected to dominate the global market during the forecast period. The United States is one of North America’s most prominent markets because of technological advancement, the complete mechanization of the manufacturing industry, and the existence of highly powerful manufacturers. There seems to be no end in sight to the global compressor wheel market over the upcoming years.
The Asia Pacific region will, on the other hand, witness staggering development in the coming years. In part, this has been influenced by the advancing automotive industry in Asia Pacific countries such as India and China, which have subsequently steered a greater demand for compressor wheels in the Asia Pacific. Growth in the market for compressor wheels in these developing economies is primarily attributed to increased industrialization. Due to factors such as rising income levels, higher standards of living, and urbanization, as well as the consumption of engine-powered machines, modern-day compressor wheels are widely used to power modern machines, such as automobiles.
Key Market Players in the Global Compressor Wheel Market
The major leading market players in the global compressor wheel market include:
- KTS
- Doncasters Group
- Garrett Motion Inc.
- Melett Ltd.
- Owen Developments
- BorgWarner Inc.
- Turbotech Precision Products Ltd.
- Nelcon Motor Company
- UACJ Corporation
- Wabtec Corporation
Aim of the Report: The Global Compressor Wheel Market
The global compressor wheel market is segmented on the basis of Sales Type, Application, Material, and Region.
Segmentation based on Material
- Cast Iron
- Aluminum
Segmentation based on Application
- Automotive Engine
- Stationary Engine
Segmentation based on Sales Type
- OEMs
- Aftermarket
Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Compressor Wheel Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Compressor Wheel market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Compressor Wheel Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Compressor Wheel market Size Forecast (2023-2032).
Continue….
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(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Compressor Wheel market revenues on a global, regional, and country level, projecting trends until 2032. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Compressor Wheel market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Compressor Wheel market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Compressor Wheel business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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