The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the United States compressor wheel market. In addition, complete analysis of changes on the United States compressor wheel market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. Likewise, the COVID-19 virus spread on one side has provided ample of growth opportunity for market with rise in automotive or vehicle demand. And on the other hand supply chain disruption has affected the market. In addition, growing demand for the turbocharger in automotive industry and requirement for compressor wheel has driven the United States Compressor market
The United States compressor wheel market is accelerating its growth in different industry for example- automotive industry, demand for fuel efficiency and better engine performance and rapid urbanization and industrialization in developing countries. With the developing economies, the rising growth and sales of automotive industry products has indeed has accelerated the growth of compressor wheel market. Besides, the growing need for vehicle with high fuel efficiency and high power output is expected to drive the market growth. Likewise, rapid urbanization and industrialization in developing countries is expected to give the market a rise of growth during the estimated time period.
The market is likely to have rapid growth in market with rising new growth opportunities like growing advancement in the production of material like stainless steel, aluminum, titanium has fuelled the market growth. Likewise, emerging manufacturer focus on producing different compressor wheel in market has accelerated the market growth. The effective use of compressor wheel with various features and advantages of compressor wheel like cost saving due to less material consumption led the increasing focus of manufacturer to produce innovative compressor wheel with high tolerance and usage in turbocharger. This factor is expected to provide ample of new growth opportunity in the market during the forecast period
The market in United States due covid-19 pandemic has certainly significantly forced for temporary shutdown of production and manufacturing activities which has affected the manufacturing, production, sales and distribution of market products thereby declining the market growth during the pandemic. However, post Covid-19 the market has witnessed a rise in demand for the market.
The market in United States is likely to have different challenges like surge in demand from consumers for electric vehicles. On the other hand growing adoption of electric vehicle is anticipated to create new challenge for the market growth. Furthermore, altering consumer preference for electric vehicle as an alternative of conventional petrol or diesel and implementation of electric powered compressor has hampered the market growth to major extend.
The report provides in-depth analysis of United States Compressor wheel market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various compressor wheel in various applications has led the increasing demand for market and is expected to witness the growth at a CAGR at specific CAGR from 2021-2028.
The United States Compressor wheel market comprises of different market segment like type, applications, and diameter.
By type, the compressor wheel includes key segment of stainless steel compressor wheel, aluminium compressor wheel, titanium compressor wheel, twin blade compressor wheel. Aluminium compressor wheel is the leading segment in the United States market attributing to its availability of aluminum material, produced mostly in simpler design, effective and supports in improvising the turbocharger has fuelled the market growth to major extend. Also, the produced compressor wheel are present in different sizes, shapes and design. Thereby this factor is expected create driving demand over the estimated time period. Similarly, titanium compressor wheel followed by twin blade compressor wheel is expected to hold specific market share in the market over the estimated time period.
The compressor wheel market finds its major application in automobile industry, manufacturing industry, oil and gas industry, aerospace, water treatment industry and others. Automobile industry is expected to gain majority of market share in U.S market for compressor wheel. The segment is driven by increasing production of automotive to fulfill the consumer demand. Presence of well-established manufacturer operating in automobile industry further having huge demand for compressor wheel in turbocharger has accelerated the growth of market segment. Furthermore, expanding application sector, emerging country and economies, increasing population is expected to enable the market with rising new growth opportunities gaining attention in fast growing emerging market. Besides, compressor wheel certainly support for reducing emission, enhancing fuel economy and enhancing drivability. On the other hand, oil and gas industry followed by manufacturing industry are expected to witness positive growth rate over the estimated time period.
The compressor wheel market is significantly studied for key diameter like 20-40 mm, 40-60 mm, more than 60 mm. In United States, the compressor wheel with a diameter of more than 60 mm diameter has certainly accelerated the demand for the market over the estimated time period. The more than 60 mm diameter is increasingly having demand in the market. On the other side, number of manufacturer are specifically focusing on diameter of compressor wheel are it provide and support for taking more pressure and heat to spin the turbine, creating interval at low speed. This diameter has specifically witnessed emerging demand in different application like automotive, oil and gas among others. Also, demand for 40-60 mm is estimated due to its offering for high power potential which is boosting the growth of market to major extend.
The competitive landscape analysis of compressor wheel market is majorly focused on expanding the United States growth of compressor wheel with new product innovation, business expansion, increasing presence of range of manufacturer operating in compressor wheel has led the growing demand for the market. Besides, the market offers range of products in different application to fulfill the required demand of consumer which is further contributing healthy growth in the market.
The key players studied in market are ABI Showatech Private Ltd, BOOSTER Precision Components, BorgWarner Inc, Doncasters Group Ltd, E&E Turbo, Garrett Motion Inc, OTS Turbo, Nelcon motor co, Owen Developments, Pacifica Power Sdn Bhd, PHESSIO TURBO, TurboSystems, Turbotech Precision Products Ltd, UACJ Corporation, Wabtec Corporation and Mitsubishi Heavy Industries, Ltd among others.
September 2021: The BorgWarner Inc Company announced the launch of the newest member of the Engineered for Racing (EFR) later this year. The EFR 8370 Super-Core will make its introduction at PRI. This Super-Core addresses the racing industry’s need for a turbo that provides a powerful boost without overspeeding.
June 2019: ABB Turbocharging has launched the new A255-L and A260-L turbochargers optimized for medium and small bore two-stroke diesel and gas engines.
October 2018: BorgWarner announced that the company is boosting the power potential of its durable, high-performance Engineered for racing (EFR) Series aftermarket turbochargers with the announcement of three new super-cores – the new EFR 8474, EFR 9274 and EFR 9280 – featuring new compressor wheels with updated blade geometries and larger inducer diameters.
The United States compressor wheel market is currently growing at specific growth rate with increasing requirement for turbocharger. Compressor wheel is ideally a part of turbocharger that helps to scoop up the incoming air and force into the compressor housing. There are numerous different type of compressor wheel and material were different wheel may have a different number of blades and blade shape, diameter depending on the application. The compressor wheel turbocharger has majorly become of popular as it provider turbo manufacturer much more flexibility in bringing new compressor design to market particularly in small run sizes. Thereby the market is expected to have rapid demand over the estimated time period.
The United States Compressor wheel market comprises of different market segment like type, applications, and diameter. By type, the compressor wheel includes key segment of stainless steel compressor wheel, aluminium compressor wheel, titanium compressor wheel, twin blade compressor wheel. Aluminium compressor wheel is the leading segment in the United States market .The compressor wheel market finds its major application in automobile industry, manufacturing industry, oil and gas industry, aerospace, water treatment industry and others. Automobile industry is expected to gain majority of market share in U.S market for compressor wheel. The compressor wheel market is significantly studied for key diameter like 20-40 mm, 40-60 mm, more than 60 mm. In United States, the compressor wheel with a diameter of more than 60 mm diameter has certainly accelerated the demand for the market over the estimated time period.
1) What are the drivers for Compressor Wheel market?
The key driving factors of the market are in growing automotive industry, fuel efficiency and better engine performance and rapid urbanization and industrialization in country.
2) Which is the leading application segment for Compressor Wheel market?
Automobile Industry has accounted the major market share, and is expected to witness the growth at highest pace during the forecast period.
3) Which compressor wheel diameter is gaining majority of market share during the forecast period (2021-2028)?
In diameter more than 60 mm diameter segment is expected to dominate in United States compressor wheel market.