LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global automotive supercharger market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global automotive supercharger market is expected to grow at a CAGR of more than 14% during the forecast period. The high-volume sales of performance and sports cars in the US, Canada, Japan, and developed economies of Europe are driving the global automotive supercharger market. The market is also expected to gain from the implementation of stringent regulations for high fuel economy and hydrocarbon emission limits.
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The top three emerging market trends driving the global automotive supercharger market according to Technavio research analysts are:
- Development of electric supercharger using hybrid technology
- Development of next generation superchargers by Aftermarket players
- Increasing penetration of forced induction systems by OEMs
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Development of electric supercharger using hybrid technology
Advances in automotive technology have resulted in the development of technologically advanced electronic systems and components. The industry's shift toward electrification with increasing use of electronic content per vehicle has resulted in a significantly higher efficiency of the systems with more precision and accuracy.
Automotive forced induction systems are one of the most trending technologies in the present portfolio of automobiles as the demand for an extra surge of power is increasing among the consumers. There have been several advancements in the field of supercharging technology and other fields of forced induction systems, wherein the market is witnessing the development of electric superchargers.
According to Siddharth Jaiswal, a lead analyst at Technavio for automotive components research, “Some of the leading suppliers are working on the use of hybrid technology, which makes use of brushless motors. Also, the all-electric superchargers, which are being developed nowadays make use of centrifugal blower along with other power electronics systems.”
Development of next generation superchargers by Aftermarket players
The global automotive forced induction system industry is witnessing increasing demand from the consumers. Looking at the changing market dynamics of the global automotive industry, players operating in the aftermarket have diversified their product portfolio in different areas and have started offering competitive products to cater to the emerging needs of the customers.
The aftermarket in the North American and European nations is highly competitive with players giving stiff competition to each other with advanced product portfolio in areas of powertrain, safety, comfort, and convenience. Callaway Cars of the US is well-known in the American market for its performance forced induction systems, such as turbochargers and superchargers. The company has developed many in-house forced induction systems over the course of its existence, which have earned critical recognition among the automotive enthusiasts. The company's 'GenThree' supercharger system, which delivers superior performance, has been completely designed in-house. Such new designs would help in propelling the growth in the years to come.
Increasing penetration of forced induction systems by OEMs
The present generation automobile models are becoming more value for money with increased offerings in the field of performance, safety, comfort, and ride handling technologies. Performance enhancing system is one of the most weighted areas while designing and configuring a vehicle.
“The leading OEMs in the global automotive industry have started launching superchargers even in the mid-segment and entry-level luxury vehicles also to give the engine a performance boost. Such a trend is now becoming very popular as customers are looking to experience sport and thrilling racing dynamics without spending hefty amounts,” says Siddharth.
Numerous OEMs have also increased the penetration rate of such forced induction systems even in the hatchbacks, which has led to the introduction of the term 'Hothatch' in the global automotive market. The emergence of 'Ecoboost' from Ford or 'Boosterjet' from Suzuki Motors are some of the examples to illustrate the same. The launch of such performance boosting technologies in entry-level and mid-segment vehicles by leading OEMs across the globe augurs well for the automotive supercharger market during the forecast period.
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