Allied Market Research

2024

Marine Turbocharger Market

Marine Turbocharger Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Technology, by Component, by Operation, by End Use Industries, by Application and by System : Global Opportunity Analysis and Industry Forecast, 2023-2032

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Author's: | Lalit Janardhan Katare
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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:

              Report Metric

                                              Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

Type, Technology, Component, Operation, End Use Industries, Application, System, and Region

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa

  Companies covered

ABB, MAN Energy Solutions, Napier Turbochargers Ltd., IHI Corporation, Cummins Inc., BorgWarner Turbo Systems, Weifang FuYuan Turbochargers Co. Ltd., ROSHOW GROUP CO. LTD, Kangyue TechnologyCo. Ltd., and Kawasaki Heavy Industries Ltd

 

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:

                 Segments

                                  Sub-segments

  Type

  • Commercial
  • Private
  • Navy

  Technology

  • Single Turbocharger
  • Twin-turbocharger
  • Electro-assist Turbocharger
  • Variable Geometry Turbocharger (VGT)

  Component

  • Compressor
  • Turbine
  • Shaft
  • Others

  Operation

  • Axial Flow Turbocharger
  • Radial Flow Turbocharger

  End Use Industries

  • Navy & Defence Systems
  • Cargo & Shipping Industries
  • Fisheries
  • Oil & Gas

  Application

  • Cargo Ships
  • High Speed Boats
  • Cruises
  • Naval Ships

  System

  • Constant Pressure System Turbocharging
  • Pulse System Turbocharging

           

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?

Marine Turbocharger Market Report Highlights

Aspects Details
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By Type
  • Commercial
  • Private
  • Navy
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By Technology
  • Single Turbocharger
  • Twin-turbocharger
  • Electro-assist Turbocharger
  • Variable Geometry Turbocharger (VGT)
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By Component
  • Compressor
  • Turbine
  • Shaft
  • Others
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By Operation
  • Axial Flow Turbocharger
  • Radial Flow Turbocharger
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By End Use Industries
  • Navy & Defence Systems
  • Cargo & Shipping Industries
  • Fisheries
  • Oil & Gas
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By Application
  • Cargo Ships
  • High Speed Boats
  • Cruises
  • Naval Ships
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By System
  • Constant Pressure System Turbocharging
  • Pulse System Turbocharging
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa, Rest of LAMEA)
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Key Market Players

Cummins Inc., ABB, Kangyue TechnologyCo. Ltd., Weifang FuYuan Turbochargers Co. Ltd., Napier Turbochargers Ltd., MAN Energy Solutions, Kawasaki Heavy Industries Ltd, BorgWarner Turbo Systems, ROSHOW GROUP CO. LTD, IHI Corporation

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Marine Turbocharger Market

Global Opportunity Analysis and Industry Forecast, 2023-2032