New York, December 2021: Axiom Market Research & Consulting™ added a report on global compressor wheel market which includes study on type, applications, diameter, and geography. Global compressor wheel market was projected to grow at a CAGR of 4.62% for the forecast period 2022 to 2028. The global market is estimated and forecasted in terms of revenue (USD Million) generated by the global compressor wheel market.

The factors such as growing automotive industry, fuel efficiency and better engine performance and also the rapid industrialization and urbanization in the developing countries, and with the developing economies across the globe, the increasing growth and sales of the automobile industry products has been driving the growth of the global compressor wheel market during the forecast period. 

The report analyses the global compressor wheel market based on type, applications, diameter and geography. By type, the global compressor wheel market is segmented into stainless steel compressor wheel, aluminium compressor wheel, titanium compressor wheel, and twin blade compressor wheel. By application, the global compressor wheel market is segmented into automobile industry, manufacturing industry, oil and gas industry, aerospace, and water treatment industry. By diameter, the global compressor wheel market is segmented into 20-40 mm, 40-60 mm, and more than 60 mm. Based on the geography, the global compressor wheel market is studied for the regions including North America, Europe, Asia Pacific and Rest of the World. 

Aluminium compressor wheel is expected to have high demand in the global compressor wheel market

The aluminium compressor wheel is available in more simple, effective design and also provide support in improvising the complete turbocharger, and these wheels are also present in the different shape, size and with different design and structural view has been driving the growth of the segment in the global compressor wheel market during the forecast period. 

Automobile industry application segment is expected to lead the global compressor wheel market 

The increasing demand for the compressor wheel, increasing adoption of the automotive turbocharger in the automobile industry has been the factors responsible for driving the growth of the segment in the global compressor wheel market during the forecast period. 

More than 60 mm diameter segment is dominating the global compressor wheel market

The ideal performance of the turbocharger is knotted to the size which is where more than 60 mm support for the purpose of taking more pressure and heat for spinning the turbine and also creating interval at a very low speed has been contributing to the growth of the segment in the global compressor market during the forecast period. 

Europe is anticipated to lead the global compressor wheel market

With the developing market for the automobile industry, the aerospace industry in the countries of Europe, along with the large presence of the well developed economies, growing requirement for the compressor wheel in the different types of the applications, increasing sales and distribution of the market has been the factors driving the growth of the global compressor wheel market in the region of Europe during the forecast period. 

Key Players

The key players in the global compressor wheel market are ABI Showatech Private Ltd (India), BOOSTER Precision Components (Germany), BorgWarner Inc (United States), Doncasters Group Ltd (United Kingdom), E&E Turbo (China), Garrett Motion Inc (Switzerland), OTS Turbo (China), Nelcon motor co (India), Owen Developments (United Kingdom), Pacifica Power Sdn Bhd (Malaysia), PHESSIO TURBO (China), TurboSystems (Lithuania), Turbotech Precision Products Ltd (United Kingdom), UACJ Corporation (Japan), Wabtec Corporation (United States) and Mitsubishi Heavy Industries, Ltd (Japan) among others. 

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