The compressor wheel global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Compressor Wheel Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The
compressor wheel market size has grown strongly in recent years. It will
grow from $14.93 billion in 2023 to $15.85 billion in 2024 at a
compound annual growth rate (CAGR) of 6.2%. The growth in the historic
period can be attributed to automotive industry demand, emissions
standards, aerospace industry influence, material science advancements,
fuel efficiency requirements.
The compressor wheel market size is expected to see strong growth in the next few years. It will grow to $19.28 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to electric and hybrid vehicles, fuel efficiency standards, aerospace and defense investments, global economic trends, renewable energy applications. Major trends in the forecast period include adoption of advanced manufacturing techniques, development of variable geometry turbochargers, integration of computational fluid dynamics (cfd),adoption of advanced manufacturing techniques, development of variable geometry turbochargers, integration of computational fluid dynamics (cfd), development of eco-friendly and sustainable practices..
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Scope Of Compressor Wheel Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Compressor Wheel Market Overview
Market Drivers -
The
rising demand for the automotive industry is expected to propel the
growth of the compressor wheels market going forward. The automotive
industry refers to the collective sector involved in the design,
development, manufacturing, marketing, and sales of motor vehicles.
Compressor wheels play a pivotal role in the automotive industry by
enhancing the efficiency and performance of turbochargers, ultimately
delivering more power and improved fuel economy to vehicles. For
instance, in March 2022, according to a report published by the European
Automobile Manufacturers' Association (ACEA), the main lobbying and
standards group for the automobile industry in the European Union,
Chinese automakers produced 20.7 million vehicles in 2021, an increase
of 7.1%. Additionally, in 2021, the total number of cars produced
worldwide climbed by 2.7% to 63.2 million. Therefore, the rising demand
for the automotive industry is driving the growth of the compressor
wheels market.
Market Trends -
Major companies operating in the
compressor wheel market are focusing on developing innovative
compressor wheel variants to provide reliable services to their
customers. The compressor wheel with an S-shaped hub design is an
innovative engineering solution that aims to enhance the performance and
efficiency of the compressor. For instance, in July 2021, BMTS
Technology GmbH & Co. KG, a Germany-based company that specializes
in the development and production of turbochargers launched a new
compressor wheel with an S-shaped hub. The S-shaped hub design helps to
optimize the airflow within the compressor wheel, resulting in improved
aerodynamic performance and efficiency, minimizing turbulence, and
enhancing the overall airflow characteristics. The hub portion with the
sharp transition edge to the nose is not only simply expanded, but its
shape has also been optimized for aerodynamics.
The compressor wheel market covered in this report is segmented –
1)
By Product Type: Titanium Compressor Wheel, Aluminum Compressor Wheel,
Stainless Steel Compressor Wheel, Twin Blade Compressor Wheel
2) By Application: Automotive Engine, Stationary Engine
3) By Sales Type: OEM (Original Equipment Manufacturer), Aftermarket
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Regional Insights -
North
America was the largest region in the compressor wheel market in 2023.
Asia-Pacific is expected to be the fastest-growing region in the
forecast period. The regions covered in the compressor wheel market
report are Asia-Pacific, Western Europe, Eastern Europe, North America,
South America, Middle East, Africa.
Key Companies -
Major
companies operating in the compressor wheel market report are Honeywell
International Inc., BorgWarner Inc., Atlas Copco AB, Wabtec Corporation,
UACJ Corporation, Ingersoll Rand plc, Garrett Motion Inc., Doncasters
Group Ltd., Booster Precision Components, ATP Turbo, Melett North
America Inc., Phessio Turbo, Rotomaster, Full-Race Motorsports, GReddy
Performance Products Inc., Turbonetics Inc., ABI Showatech Private Ltd.,
Turbo tech Precision Products Ltd., E&E Turbo, Owen Developments,
Turbo Systems, Forced Performance Turbochargers, Blouch Performance
Turbochargers, Nelcon Motor Company, Pacifica Power Sdn Bhd., Changzhou E
and E Turbo Power Co. Ltd., Jiangyin Uni-Pol Vacuum Casting India Pvt.
Ltd.
Table of Contents
1. Executive Summary
2. Compressor Wheel Market Report Structure
3. Compressor Wheel Market Trends And Strategies
4. Compressor Wheel Market – Macro Economic Scenario
5. Compressor Wheel Market Size And Growth
…..
27. Compressor Wheel Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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