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    Marine Turbocharger Market Report

    Marine Turbocharger Market Report
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    Marine Turbocharger Market Size, Share, Trend, Forecast, & Industry Analysis – 2 See more...

    Impact of COVID-19 on Marine Turbocharger Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Marine Turbocharger Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Marine Turbocharger Market Insights

    Marine Turbocharger Market is likely to witness a CAGR of 7.5% during the forecast period. Growing requirement for minimizing operating cost and increasing engine efficiency, shifting inclination towards decreasing fuel consumption and emission level coupled with enhancement in the efficiency of engines, stringent maritime emission regulatory norms and increasing environmental concerns, and strong presence of manufacturers are some of the major factors driving the growth of the market during the forecast period.

    Marine Turbocharger Market – Snapshot

    Growth

    7.5% for the next five years

    Dominant Mode of Operation Type

    Radial

    Leading Technology Type

    Electro-assist Turbo

    Largest Component Type

    Turbine

    Major Application Type

    Recreational Boats

    Region with the highest demand

    North America

    Key Players

    ABB, BorgWarner Turbo Systems GmbH, Cummins Inc., Hedemora Turbo & Diesel AB, Kompressorenbau Bannewitz GmbH, MAN Energy Solutions, Mitsubishi Heavy Industries Marine Machinery & Engine Co. Ltd., MTU Friedrichshafen GmbH, Napier Turbochargers Ltd., and PBS Turbo s.r.o.

     

    Market Share Analysis

    Marine-Turbocharger-Market-Dominant-Segments

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    Marine Turbocharger Market Share: By Mode of Operation Type

    Based on the mode of operation type, the market is segmented as axial and radial. The radial marine turbocharger is projected to be the dominant segment of the market owing to its increasing applications in small-sized four-stroke engines during the forecast period. New innovative ideas for recreating its design with minimized emission levels, higher-pressure ratios, its cost effectiveness, and availability in various size ranges are further expected to boost the product demand during the forecast period.

    On the other hand, axial marine turbocharger is estimated to witness significant growth rate in market during the forecast period owing to increasing applications in large two-stroke engines. Further, enhancements in turbochargers with compact size and high capacity is leading to decrease in weight and initial cost without compromising on power output, fueling the growth of the industry over the forecast period.

    Marine Turbocharger Market Share: By Technology Type                    

    Based on the technology type, the market is segmented as single turbo, twin turbo, electro-assist turbo, and variable geometry turbo. The electro-assist turbocharger is projected to be the leading technology type in the market during the forecast period owing to its compact and highly efficient electric motor which provides optimization of plant efficiency, especially when a ship operates under slow steaming. On the other hand, twin turbocharger is estimated to account for a significant share of the market during the forecast period owing to various useful features, such as enhanced power output, air pressure & density, resulting in lower exhaust emissions and fuel consumption, offered by it.

    Marine Turbocharger Market Share: By Component Type

    Based on the component type, the market is segmented as compressor, turbine, central shaft, and others. The turbine segment is projected to hold the major share of the market during the forecast period. In addition, factors such as turbine wheels performing efficient extraction of energy from exhaust gases with least frictional loss and availability of turbine blades in various sizes and variant nozzle rings are expected to fast-track the segment’s growth during the forecast period.    

    Marine Turbocharger Market Share: By Application Type

    Based on the application type, the market is segmented as military ships, commercial ships, and recreational boats. The recreational boats’ segment is estimated to hold the largest share of the market owing to increasing sales of luxury marine vessels with the growing tourism industry during the forecast period. On the other hand, the military ships’ segment is projected to witness significant growth rate in the market owing to growing usage of marine turbochargers by the defense and naval forces during the forecast period. Factor such as increase in military budgets, offering lucrative opportunities for the expansion and upgrade of naval fleets is further expected to fuel the overall growth of the industry during the forecast period.

    Marine Turbocharger Market Share: By Region

    In terms of regions, North America is estimated to account for the largest share of the market owing to increasing demand for recreational boats during the forecast period. Factors such as growing popularity of marine and coastal tourism providing potential opportunities for recreational boats and increasing consumer participation in water-based sporting events and recreational boating activities are some of the major factors fueling the regional market growth over the forecast period. Also, Asia-Pacific is expected to be the fastest-growing region owing to the strong presence of a large number of ship manufacturers in the region during the forecast period. Europe is also expected to offer substantial growth opportunities during the forecast period.

    Marine-Turbocharger-Market-By-Region

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    Some of the key players in the marine turbocharger market are-

    • ABB
    • BorgWarner Turbo Systems GmbH
    • Cummins Inc.
    • Hedemora Turbo & Diesel AB
    • Kompressorenbau Bannewitz GmbH
    • MAN Energy Solutions
    • Mitsubishi Heavy Industries Marine Machinery & Engine Co. Ltd.
    • MTU Friedrichshafen GmbH
    • Napier Turbochargers Ltd.
    • PBS Turbo s.r.o.

     

    Market Scope & Segmentation

    Turbocharger is basically a device that is used to pump extra air into an engine cylinder so as to increase the flow of fuel into the engine, which in turn increases engine power. In case of marine turbocharger, it is an important part of a marine engine as the exhaust gases are reused to enhance the overall efficiency of engine with the help of turbocharger.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Marine Turbocharger Market Research Report - Features

    Market Segmentation

    5

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The marine turbocharger market is segmented into the following categories.

    Marine Turbocharger Market Size, Share, & Forecast, by Mode of Operation Type:

    • Axial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Radial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Marine Turbocharger Market Size, Share, & Forecast, by Technology Type:

    • Single Turbo (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Twin Turbo (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Electro-assist Turbo (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Variable Geometry (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Marine Turbocharger Market Size, Share, & Forecast, by Component Type:

    • Compressor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Turbine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Central Shaft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Marine Turbocharger Market Size, Share, & Forecast, by Application Type:

    • Military Ships (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Commercial Ships (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Recreational Boats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Marine Turbocharger Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Marine-Turbocharger-Market-Segmentation

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    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

     

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the technology types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]

    Frequently Asked Questions (FAQs)

    The marine turbocharger market is expected to witness an impressive growth of 7.5% CAGR in the foreseeable future.

    ABB, BorgWarner Turbo Systems GmbH, Cummins Inc., Hedemora Turbo & Diesel AB, Kompressorenbau Bannewitz GmbH, MAN Energy Solutions, Mitsubishi Heavy Industries Marine Machinery & Engine Co. Ltd., MTU Friedrichshafen GmbH, Napier Turbochargers Ltd., and PBS Turbo s.r.o. are among the key players in the Marine Turbocharger Market.

    North America is estimated to account for the largest share of the marine turbocharger market during the next five years.

    The electro-assist turbocharger is projected to be the leading technology type in the marine turbocharger market in the coming years.

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