Compressor Wheel Market: Global Industry Analysis and Forecast (2021-2027) Trends, Statistics, Dynamics, Segmentation by Product Type, Diameter, End Use, and Region

Compressor Wheel Market was valued at US$ 17.85 Bn. in 2021. Global Compressor Wheel Market size is estimated to grow at a CAGR of 4.53%.
Compressor Wheel Market Overview:
The compressor wheel is a crucial component of a turbocharger. It is used to boost the intake of air pressure of an internal combustion engine. Conventional compressor wheels are made from aluminum because it offers lower density. Additionally, it is three times lighter than steel. In the recent past, compressor wheel designs have gotten better remarkably due to changing customer demands and different operating surroundings. Innovative designs of compressor wheels are flatback, super back, deep super back, and expanded tip deep super back.



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The segments of the Compressor Wheel market are investigated in the report (Product Type, Diameter, End Use, and Region). Market players and regions have given data (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The Compressor Wheel market study gives a comprehensive overview of the present quick advancements in all industrial sectors. The essential data analysis for the historical era from 2017 to 2021 is presented using facts and figures, pictures, and presentations. The analysis looks at the market's drivers, constraints, prospects, and hurdles for Compressor Wheel. This MMR report contains investor suggestions based on a detailed study of the current competitive landscape in the Compressor Wheel industry sector.
Compressor Wheel Market Dynamics:
Currently, vehicle consumers are the use of vehicles, which offer superior power output together with stringent emission limits. Many automakers are increasing focus on the installation of automotive turbochargers in their vehicles, which are expected to boost the sales of compressor wheels. In the automotive industry, many car and engine manufacturers are using compressor wheel to introduce turbochargers into the power unit. the turbocharger manufacturers are using compressor wheel to increase effectiveness, reliability, and usability while preserving or reducing the costs.

Demand for turbochargers are expected to drive the market growth

Numerous manufacturers are focusing on the development of compact and lighter compressor wheels, which has high demand scope in the automotive applications. With the consideration of the importance of the compressor wheel in turbochargers, the manufacturers are preferring accurate and proper design of the compressor wheel. Aluminum is the first choice of material to be used for the manufacturing of the compressor wheel. Before aluminum, various other products, such as plastic, titanium, and magnesium, have been used for the manufacturing of compressor wheels. Manufacturers are increasing their R&D muscle to develop durable impellers with superior heat dissipation and rotational characteristics. Key players operating in the compressor wheel market are increasing their focus on production of the wheel with the innovative design , which will beneficial for the usages in the aerospace, marine, and watercraft industries. They are expanding their product portfolio in flatback, deep back, and super back contours.

Key Players operating in the market are focusing on innovative design of the Compressor Wheels

Many key players operating in the market are focusing on introduction of the innovative design, which helps to decrease load compressor wheel. Traditional designs in compressor wheels are highly affected by high speeds at turbocharger rotates, which also increase the force on wheel significantly. Manufacturers in the market are introducing design variations, which helps to prevent excessive wear and tear of the exducer diameter of the compressor wheel as the super back platform. The designs help to add more material on high stressed wheel area with higher loads. Key companies are developing exaggerated designs like deep super back–extended tip, which enables greater airflow to boost response at low engine speeds.

A focus towards reducing the operational cost

A small reduction in fuel consumption have impacted significantly on the wheel in the transportation industry. It operates on small profit margins. An integration of the compressor wheels can help to reduce fuel cost incurred by vehicle manufacturers and transportation service providers. Compressor wheels also helps to increase revenue and it ultimately delivers the benefits to the customers in the form of low cost of traveling or low cost of goods. Many vehicle manufacturers are focusing on development of lightweight engines, which is expected to increase the fuel efficiency of the vehicle. It helps to reduce carbon emissions, which leads to the development of new turbochargers. An increase in demand for vehicles with high fuel efficiency and high-power output are expected to boost the demand for turbochargers that also drives the adoption of the compressor wheels.

Electrification of Turbochargers increase the age of vehicle

An integration of the electric turbochargers is expected to make significant changes in the compressor wheel market. Key companies in the market are expected to focus on Electrification of Turbochargers, in which compressor wheel is a key part of it. They are focusing on evolution of their new electric exhaust turbocharger, which is expected to offer key opportunities for manufacturers in the compressor wheel market. Exhaust gas turbochargers are expected to increase the agility of automobiles. The electrification of the turbocharger enhances response from idle speed and the entire engine speed range with respect to delayed response of a conventional turbocharger.
Compressor Wheel Market Segment Analysis:
Aluminum segment is expected to contribute more than 55% share in the market. Key companies in the compressor wheel market are introducing innovation to gain a competitive edge in the industry. They are focusing on innovations, which help to increase the thermal efficiency and power density of engines. Lightweight turbocharger turbine wheels offer superior performance and have the ability of scale up the production of the compressor wheel. commercial vehicle turbochargers are used in high loads of applications.
Compressor Wheel Market Regional Insights:
Asia-Pacific is exacted to hold Dominant Position

Rapid expansion of manufacturing industries like automobile industry, manufacturing industry, oil & gas industry and water treatment industry across Asia Pacific is expected to drive the compressor wheel market. The region is known as automotive hub, that is expected to drive the demand for compressor wheel. The presence of the well-established manufacturers and suppliers who have advanced research and development facilities of compressor wheel, and technological advancement in the design of the wheel are some of the prominent factors, which are expected to drive the market growth. The number of wastewater treatment plants and manufacturing plants is increasing in across developing economies like India, China and Japan, which is expected to increase demand for compressor wheels. Additionally, stringent emission norms are encouraging vehicle manufacturers to develop lightweight engines to increase the fuel efficiency of the vehicle that is expected to boost the production of the compressor wheel.

The objective of the report is to present a comprehensive analysis of the global Compressor Wheel Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Compressor Wheel Market dynamic, structure by analyzing the market segments and projecting the Compressor Wheel Market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the Compressor Wheel Market make the report investor’s guide.
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Global Compressor Wheel Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2027


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 17.85 Bn.


Forecast Period 2022 to 2027 CAGR:
4.53%
Market Size in 2027:
US $ 23.28 Bn.


 Segments Covered:
by Product Type
• Aluminum Compressor Wheel
• Titanium Compressor Wheel
• Stainless Steel Compressor Wheel
• Twin Blade Compressor Wheel


by Diameter
• 20 mm – 40 mm
• 40 mm – 60 mm
• More than 60 mm


by End Use
• Automobile Industry
• Manufacturing Industry
• Oil & Gas Industry
• Water Treatment Industry



Global Compressor Wheel Market by Region
• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa
Global Compressor Wheel Market Key Players
• ABI Showatech Private Ltd.
• BOOSTER Precision Components
• BorgWarner Inc.
• Changzhou E & E Turbo Power Co., Ltd.
• Doncasters Group Ltd
• E&E Turbo
• GARRETT MOTION INC.
• Jiangyin Uni-Pol Vacuum Casting India Pvt. Ltd.
• Melett North America Inc. (Melett Ltd.)
• Nelcon Motor Company
• Owen Developments
• Pacifica Power Sdn Bhd.
• PHESSIO TURBO
• Turbo Systems
• Turbo tech Precision Products Ltd
• UACJ Corporation
• UNI-POL CHINA
• Wabtec Corporation

Frequently Asked Questions:

1] What segments are covered in the Compressor Wheel Market report?
Ans. The segments covered in the Compressor Wheel Market report are based on Product Type, Diameter, End Use.

2] Which region is expected to hold the highest share in the Compressor Wheel Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Compressor Wheel Market.

3] What is the market size of the Compressor Wheel Market by 2027?
Ans. The market size of the Compressor Wheel Market by 2027 is US$ 23.28 Bn.

4] What is the forecast period for the Compressor Wheel Market?
Ans. The forecast period for the Compressor Wheel Market is 2021-2027.

5] What was the market size of the Compressor Wheel Market in 2021?
Ans. The market size of the Compressor Wheel Market in 2021 was US$ 17.85 Bn.