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Automotive Engine Power Boosting Devices Market

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Automotive Engine Power Boosting Devices Market
Automotive Engine Power Boosting Devices Market is Driven Due To Rising Demand
For Performance Vehicles
Automotive engine power boosting devices are installed within the engine assembly to
enhance the power output of the engine with the same size of cylinders installed in
the engine such as turbochargers, and superchargers. Moreover, engine power
boosting devices are utilized in premium segment and performance vehicles.
The global automotive engine power boosting devices market is anticipated expand at
a significant pace during the forecast period due to rising demand for performance
vehicles. Automotive engine power boosters enhance the power output by improving
the fuel combustion, thus enhancing fuel economy of the vehicle and in most cases,
resulting in lower exhaust emission. Tax benefits on vehicles with smaller engines led
to engine downsizing along with integration of engine power boosters. Increase in
stringency of emission norms is likely to be a key driver for the automotive engine
power boosting devices market; however, addition of engine power boosters increase
the cost of vehicles significantly, owing to the high cost of the engine power boosting
devices. Furthermore, rising preference for electric vehicles among consumers is likely
to hamper the automotive engine power boosting devices market due to elimination
of the engine from vehicles.
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The global automotive engine power boosting devices market can be segmented based
on type of engine boosters, sales channel, vehicle, and region. In terms of type of
engine boosters, turbocharger is likely to be a highly attractive segment of the
market. Furthermore, rising penetration of automotive turbochargers in gasoline
vehicles is likely to boost the market for automotive engine power boosters.
In terms of sales channel, the OEM segment is expected to account for a prominent
share of the automotive engine power boosting devices market owing to very low
integration of aftermarket automotive engine power boosters. Addition of filter for
cold air intake enhances the efficiency and performance of the engine that lead to its
high demand in aftermarket sales Channel, however low cost of the product is likely
to gain it a smaller share of the market.
In terms of vehicle, the passenger vehicle segment is likely to hold a major share of
the market owing to the higher production of passenger vehicles, while the
penetration of engine power boosting devices is likely to be higher in some regions,
such as North America and Europe, owing to stringent emission norms and demand
for vehicles with high engine capacity in these regions. Off-road vehicles is a key
segment of the automotive engine power boosting devices market, as most off-road
vehicles are integrated with some power boosting devices. Moreover, vehicles utilized
in construction and mining industries are equipped with the turbochargers in order to
enhance their power output and engine efficiency.
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Based on the region, Asia Pacific is anticipated to be a prominent market for
automotive engine power boosters owing to high production of vehicles in the region.
China is a leading manufacturer of vehicles with engine power boosting devices.
Moreover, export of a significant number of vehicles from China and India is a prime
factor behind the large market share of Asia Pacific in the global automotive engine
power boosting devices market. Europe is another key market for automotive engine
power booster owing to the high demand for performance vehicles in the region.
Furthermore, rising penetration of turbochargers in gasoline vehicles is likely to boost
the automotive engine power boosting devices market in the region.
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monaliraghu
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