Compressor Wheel Market Growing at a CAGR of 4.8% to Reach $4,334.6 Million by 2030

The compressor wheel market is segmented into material, application, sales type, and region.

PORTLAND, OR, UNITED STATES, September 26, 2021 /EINPresswire.com/ — A turbocharger consists of a compressor wheel and exhaust gas turbine wheel coupled together by a solid shaft which is used to boost the intake air pressure of an internal combustion engine. Compressor wheels are manufactured by using material such as cast iron and aluminum. Compressor wheels are installed in turbochargers that are further installed in automotive and stationary engines in automobiles and manufacturing industries.

The compressor wheel market size was valued at $2.7 billion in 2020, and is expected to reach $4.3 billion by 2030, registering a CAGR of 4.8% from 2021 to 2030.

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Enforcement of stringent regulations rules for emission across the globe is prompting vehicle manufacturers to develop and manufacture lightweight engines, which will help to increase the fuel efficiency of the vehicle. This drives the compressor wheel market trend around the world. In addition, rise in demand for high power vehicles led to manufacturing of high powered turbochargers, which helps automobile engines to generate high-power output that results in high-torque generation for the vehicle and improved efficiency of engine. These are factors are anticipated to propel the compressor wheel market growth.

Top 10 Leading Players

BorgWarner Inc.
Doncasters Group
Garrett Motion Inc.
KTS
Melett Ltd.
Nelcon Motor Company
Owen Developments
Turbotech Precision Products Ltd.
UACJ Corporation
Wabtec Corporation

Key Benefits For Stakeholders

The report provides an extensive analysis of the current trends and future estimations of the compressor wheel market.

In-depth compressor wheel market analysis is conducted by estimations for the key segments between 2021 and 2030.

Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.

A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.

The market forecast analysis from 2021 to 2030 is included in the report.

The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the market industry.

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Key Market Segments

By Material

Cast Iron
Aluminum

By Application

Automotive Engine
Stationary Engine

By Sales Type

OEMs
Aftermarket

By Region

North America
Europe
Asia-Pacific
LAMEA

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David Correa
Allied Analytics LLP
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Source: EIN Presswire