Automotive refurbished turbochargers market size to grow by USD 163.71 million from 2021 to 2026; Growth driven by lower cost of refurbished turbochargers - Technavio

NEW YORK, April 27, 2023 /PRNewswire/ -- The global automotive refurbished turbochargers market size is estimated to increase by USD 163.71 million from 2021 to 2026. The market's growth momentum will be progressing at a CAGR of 3.72% during the forecast period. The market is driven by the lower cost of refurbished turbochargers. Refurbished turbochargers are cost-effective compared to new replacement turbochargers. Cost savings may vary from 30% to 90%, depending on the vendor. Many prominent vendors in the market are offering refurbished turbochargers with the same performance and reliability as OE turbochargers. Some are also offering warranties on refurbished turbochargers. For instance, BorgWarner offers a one-year or 100,000 mile warranty on its automotive refurbished turbochargers. Such benefits are increasing the adoption of refurbished turbochargers among customers, which is driving market growth. Discover some insights on the market size historic period (2017 to 2021) and Forecast 2022-2026 before buying the full report - Request a sample report

Global Automotive Refurbished Turbochargers Market – Vendor Analysis

The global automotive refurbished turbochargers market is fragmented due to the presence of numerous international and regional vendors. Prominent vendors are continuously working on developing economical and high-quality refurbished turbochargers for customers. They are also offering aftermarket support to make their products attractive. Some vendors are developing new technologies to improve their products. Some of the key vendors covered in the report include:

• BBB Industries LLC - The company offers automotive refurbished turbochargers such as gas and diesel turbochargers.
• BorgWarner Inc. - The company offers automotive refurbished turbochargers namely BorgWarner REMAN Turbocharger.
• Cardone Industries Inc. - The company offers automotive refurbished turbochargers under its brand Cardone Reman.
• Cummins Inc. - The company offers automotive refurbished turbochargers namely Genuine Holset Reman Turbochargers.
• Denco Diesel Wagga Pty. Ltd.
• DOMAT Automotive Engineering Ltd.
• Genuine Parts Co.
• Goldfarb and Associates Inc.
• Honeywell International Inc.
• IHI Corp.
• Mercedes Benz Group AG
• Precision Turbo Services
• RAI Amsterdam B.V.
• Standard Motor Products Inc.
• Turbo Dynamics Ltd.
• Turbo Technics Ltd.
• Turbocentras Ltd.
• Westinghouse Air Brake Technologies Corp.
• Zex Toronto
• ZF Friedrichshafen AG

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Global Automotive Refurbished Turbochargers Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on application (passenger cars, LCVs, and M &HCVs) and geography (APAC, Europe, North America, Middle East and Africa, and South America).

• The market growth in the passenger cars segment will be significant over the forecast period. The segment is driven by the high production of passenger cars compared to commercial vehicles. The rising consumer demand for increased power, better fuel efficiency, and lower emissions has increased the use of turbochargers in passenger cars. In addition, the increasing sales of SUVs and luxury cars in developing countries such as India is driving the growth of the segment.

Geography Overview
The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive refurbished turbochargers market.

• APAC will account for 50% of the market growth during the forecast period. Rapid economic growth in countries such as India, China, Thailand, Indonesia, and South Korea has increased the purchasing power as well as the sales of automobiles in the region. In addition, the introduction of various emission norms has compelled automakers to use turbochargers to reduce emissions and improve efficiency. These factors are driving the growth of the automotive refurbished turbochargers market in APAC.

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Global Automotive Refurbished Turbochargers Market – Market Dynamics

Key Trends – 

The development of electric turbochargers is identified as the key trend in the market. Vendors in the market are developing electric turbochargers that feature motors. For instance, Garrett Motion Inc. is developing an electric turbocharger for automotive applications. The electric motor allows the electric turbocharger to rapidly spin up the turbo at low speeds and reduce turbo lag. During deceleration, the electric motor in an electric turbocharger acts as a generator to charge the battery. With the development of hybrid vehicles, the use of electric turbochargers will become ideal in the automotive industry. This trend will positively influence the market growth over the forecast period.

Major challenges – 

The adoption of low-cost counterfeit turbochargers is identified as the major challenge affecting market growth. Many players in China sell counterfeit turbochargers that do not undergo manufacturing control and safety measures. These products are about one-tenth cheaper than original refurbished turbocharger vendors. The use of such products may harm the engine and other parts of vehicles. The increased availability of such counterfeit turbochargers will challenge the growth of the market in focus.

Drivers, trends, and challenges have an impact on market dynamics, which can impact
businesses. Find more insights in a sample report!

What are the key data covered in this automotive refurbished turbochargers market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the automotive refurbished turbochargers market between 2022 and 2026
• Precise estimation of the size of the automotive refurbished turbochargers market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the automotive refurbished turbochargers market across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of automotive refurbished turbochargers market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

• 5.1 Market segments
• Exhibit 24: Chart on Application - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Application - Market share 2021-2026 (%)

• 5.2 Comparison by Application 
• Exhibit 26: Chart on Comparison by Application
• Exhibit 27: Data Table on Comparison by Application

• 5.3 Passenger cars - Market size and forecast 2021-2026 
• Exhibit 28: Chart on Passenger cars - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Passenger cars - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Passenger cars - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Passenger cars - Year-over-year growth 2021-2026 (%)

• 5.4 LCVs - Market size and forecast 2021-2026 
• Exhibit 32: Chart on LCVs - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on LCVs - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on LCVs - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on LCVs - Year-over-year growth 2021-2026 (%)

• 5.5 M and HCVs - Market size and forecast 2021-2026 
• Exhibit 36: Chart on M and HCVs - Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on M and HCVs - Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on M and HCVs - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on M and HCVs - Year-over-year growth 2021-2026 (%)

• 5.6 Market opportunity by Application 
• Exhibit 40: Market opportunity by Application ($ million)
• Exhibit 41: Data Table on Market opportunity by Application ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 42: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 43: Chart on Market share by geography 2021-2026 (%)
• Exhibit 44: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 45: Chart on Geographic comparison
• Exhibit 46: Data Table on Geographic comparison

• 7.3 APAC - Market size and forecast 2021-2026 
• Exhibit 47: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 49: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 50: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026 
• Exhibit 51: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 53: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 54: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 North America - Market size and forecast 2021-2026 
• Exhibit 55: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 57: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 58: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.6 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 59: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 61: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 62: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.7 South America - Market size and forecast 2021-2026 
• Exhibit 63: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 65: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 66: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.8 China - Market size and forecast 2021-2026 
• Exhibit 67: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 69: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 70: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.9 US - Market size and forecast 2021-2026 
• Exhibit 71: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 73: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 74: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.10 Germany - Market size and forecast 2021-2026 
• Exhibit 75: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 77: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 78: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.11 Japan - Market size and forecast 2021-2026 
• Exhibit 79: Chart on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 81: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 82: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.12 UK - Market size and forecast 2021-2026 
• Exhibit 83: Chart on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Data Table on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 85: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 86: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 87: Market opportunity by geography ($ million)
• Exhibit 88: Data Tables on Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 89: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 90: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 91: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 92: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 93: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 94: Matrix on vendor position and classification

• 10.3 BBB Industries LLC
• Exhibit 95: BBB Industries LLC - Overview
• Exhibit 96: BBB Industries LLC - Product / Service
• Exhibit 97: BBB Industries LLC - Key offerings

• 10.4 BorgWarner Inc.
• Exhibit 98: BorgWarner Inc. - Overview
• Exhibit 99: BorgWarner Inc. - Business segments
• Exhibit 100: BorgWarner Inc. - Key news
• Exhibit 101: BorgWarner Inc. - Key offerings
• Exhibit 102: BorgWarner Inc. - Segment focus

• 10.5 Cardone Industries Inc. 
• Exhibit 103: Cardone Industries Inc. - Overview
• Exhibit 104: Cardone Industries Inc. - Product / Service
• Exhibit 105: Cardone Industries Inc. - Key offerings

• 10.6 Cummins Inc.
• Exhibit 106: Cummins Inc. - Overview
• Exhibit 107: Cummins Inc. - Business segments
• Exhibit 108: Cummins Inc. - Key offerings
• Exhibit 109: Cummins Inc. - Segment focus

• 10.7 Genuine Parts Co.
• Exhibit 110: Genuine Parts Co. - Overview
• Exhibit 111: Genuine Parts Co. - Business segments
• Exhibit 112: Genuine Parts Co. - Key offerings
• Exhibit 113: Genuine Parts Co. - Segment focus

• 10.8 Honeywell International Inc. 
• Exhibit 114: Honeywell International Inc. - Overview
• Exhibit 115: Honeywell International Inc. - Business segments
• Exhibit 116: Honeywell International Inc. - Key news
• Exhibit 117: Honeywell International Inc. - Key offerings
• Exhibit 118: Honeywell International Inc. - Segment focus

• 10.9 IHI Corp.
• Exhibit 119: IHI Corp. - Overview
• Exhibit 120: IHI Corp. - Business segments
• Exhibit 121: IHI Corp. - Key news
• Exhibit 122: IHI Corp. - Key offerings
• Exhibit 123: IHI Corp. - Segment focus

• 10.10 Mercedes Benz Group AG 
• Exhibit 124: Mercedes Benz Group AG - Overview
• Exhibit 125: Mercedes Benz Group AG - Product / Service
• Exhibit 126: Mercedes Benz Group AG - Key offerings

• 10.11 Zex Toronto
• Exhibit 127: Zex Toronto - Overview
• Exhibit 128: Zex Toronto - Product / Service
• Exhibit 129: Zex Toronto - Key offerings

• 10.12 ZF Friedrichshafen AG 
• Exhibit 130: ZF Friedrichshafen AG - Overview
• Exhibit 131: ZF Friedrichshafen AG - Business segments
• Exhibit 132: ZF Friedrichshafen AG - Key news
• Exhibit 133: ZF Friedrichshafen AG - Key offerings
• Exhibit 134: ZF Friedrichshafen AG - Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 135: Inclusions checklist
• Exhibit 136: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 137: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 138: Research methodology
• Exhibit 139: Validation techniques employed for market sizing
• Exhibit 140: Information sources

• 11.5 List of abbreviations 
• Exhibit 141: List of abbreviations

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