Turbocharger Market Turbocharger Market Forecast, 2016-2024 | Page 6

With innovations in technology, Diesel turbochargers would receive a higher adoption, especially in Europe. Diesel turbochargers are ruling the overall turbocharger market owing to low cost of diesel and higher fuel efficiency. Diesel is up to 30 percent more fuel efficient than gasoline, and it already dominates many markets in Europe, where fuel is more expensive. Exponential rise in demand of cost- effective and fuel-efficient engines has led to a higher adoption of turbocharger across industries such as automotive, marine, and aerospace & defense. The diesel turbocharger market is expected to witness a CAGR of 11.8% during the forecast period. 6