Turbocharger is a device that pumps more air into an engine cylinder which increases flow of fuel into the engine, thus increasing power of engine. It consists of a turbine, shaft, air compressor, and other components. There are two types of turbochargers on the basis of exhaust flow, namely axial flow turbochargers and radial flow turbochargers. Since exhaust gases of same engine are used to rotate the turbine of a turbocharger, there is no additional power required to use turbocharger, which increases the efficiency of the engine. Turbochargers in marine engines contributes for more than 75% power of the engine. 

Market scope and structure analysis:

Covid-19 Scenario analysis:

• Due to covid-19 situation, the research & development in marine turbocharger companies  across the globe has been hampered because of the declared lockdowns and government restrictions on public gatherings.
•  Demand may rise significantly in marine turbocharger market in upcoming quarter as industry’s production has started to get momentum after tough phase of covid-19.
• There will be considerable rise in demand in marine turbocharger market in near future as several governments are loosening restrictions on lockdown and marine travelling also may start soon. 
• Business development potential of marine turbocharger companies has been effected due to the reduction in order of turbochargers, owing to the covid-19 situation.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Rise in marine tourism, increase in consumption of precious metals & minerals, and increasing demand for enhanced performance of ships with surging seaborne trade across nations are the factors which drive the market. However, high cost of turbochargers is limiting the growth of marine turbocharger market. Further, technological advancements in ship engines are opportunistic for marine turbocharger market.

Rise in marine tourism

Marine tourism destinations in Greece, France, Indian Ocean, and Caribbean sea are amongst the  most attractive marine tourist destinations of the world. Water sports, deep diving, water skiing etc attracts several travellers across the world. Moreover, the trend of owing a yacht or a boat is also rising, owing to increase in disposable income of the people. Such factors have contributed to increase demand for fuel efficient and high power marine vehicles with turbochargers. Hence, with the rise in marine tourism, the marine turbocharger market is expected to grow further.

Increase in consumption of precious metals & minerals

Increase in consumption of precious metals & minerals, owing to rise in production of electronics, household utensils, and automobiles, have depleted the current mining industry. Such depletion of resources in ground has directed to increase in search for mining resources in seas. Such factors has increased the demand for energy efficient engines and turbochargers which is expected to effect market positively.

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the marine turbocharger industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the marine turbocharger market share.
• The current market is quantitatively analysed from 2020 to 2027 to highlight the marine turbocharger market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed marine turbocharger market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the Marine Turbocharger Market research report:

• What are the leading market players active in the marine turbocharger market?
• What the current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?