Compressor Wheel Market To Register A Stout Growth By 2031
According to the report, the global compressor wheel market is projected to reach US$ 27 Bn by 2031 , expanding at a CAGR of ~4% during the forecast period. Turbocharged engine of a vehicle offers several advantages over a conventional engine, such as lower emission of exhaust gases, owing to better combustion of the air-fuel mixture in the combustion chamber, higher power, and enhanced fuel economy. Stringent emission norms are a major factor driving the compressor wheel market, as they prompt vehicle manufacturers to comply with emission norms. Rise in consumer demand for performance and improvements fuel economy are expected to drive the compressor wheel market. The adoption of turbocharger enables a smaller engine to deliver greater output, thus helping in downsizing the engine and saving fuel. Increase in consumer awareness regarding emissions is also a major driver of the compressor wheel market. The compressor wheel in a turbocharg...