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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 |
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.
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, 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.
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Questions answered in the Marine Turbocharger Market research report:
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