The marine turbocharger market is estimated to expand at a CAGR of 7.14% during the forecast period from 2021 to 2031. The proliferation of the marine industry for transportation of goods, travel to coastal destinations, and scientific expeditions is fueling the growth of the marine turbocharger market.
The growing economic prosperity is leading to increasing participation in water-based adventure sports among individuals of various age groups. Individuals and families travel to far-off coastal locations that are developed for marine recreation. Large section of populations in emerging economies with disposable income is leading to increasing ownership of yachts and powerboats for recreation. This explains significant share of Asia Pacific of the marine turbocharger market.
Declined seaborne trade and marine recreation due to restrictions of COVID-19 hampered the manufacturing and distribution of marine turbochargers to impede the growth of the marine turbocharger market. However, recovery of economies post the period of slump due to the pandemic is reviving the expansion of the marine turbocharger market.
Request a Report Sample at https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=74053
Marine Turbocharger Market – Key Findings of Report
- Significant volume of seaborne trade across the world that requires marine vessels underscores growth of the marine turbocharger market
- Increasing integration of advanced technologies in marine turbochargers to increase the performance of marine engines boosts demand from the marine industry
- Product advancements, which include the development of compact and high capacity turbochargers to fuel the demand from marine vessels
- Vast rise in popularity of marine and coastal tourism in North America impels demand for recreational boats in the region. This, along with substantial participation in water-based adventure sports and water sporting activities stimulates the marine turbocharger market
- Stringent marine emission regulations in place has led to the development of products with emissions within permissible range. This benefits the marine turbocharger market.
- Marine environment protection mandates to improve the fuel efficiency of marine engines are further leading to efforts from manufacturers to develop improved turbochargers
- Partnerships between companies to engage in R&D to improve the fuel efficiency of marine vessels stimulate the marine turbocharger market. The partnership between ABB and HSD Engine in July 2021 to develop marine engine performance optimization platform is a case in point. The agreement involves HSD Engine to offer software to ship owners to monitor fuel efficiency in order to comply with maritime emission regulations.
- Turbochargers with radial operation led the marine turbocharger market vis-à-vis volume and revenue in the recent past. This is due to less engine power of radial operation turbochargers in comparison with counterpart axial operation type turbochargers.
Request for a Discount on Marine Turbocharger Market Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=74053
Marine Turbocharger Market – Growth Drivers
- Proliferation of the marine industry for seaborne trade, water-based recreation and adventure sports, and scientific studies propels the marine turbocharger market
- Integration of advanced technologies, along with product development for compact size and high capacity to comply with maritime emission regulations cements growth of the marine turbocharger market
Get a Customized Research Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=74053
Marine Turbocharger Market – Key Players
Some of the key players operating in the marine turbocharger market are;
- ABB
- Cummins Inc.
- IHI Corporations
- Kawasaki Heavy Industries Ltd
- La Meccania Turbo Diesel
- MAN Diesel & Turbo
- Marine Machinery & Equipment Co. Ltd.
- Napier Turbochargers Ltd.
- Rotomaster International
- BorgWarner Turbo Systems
- Hedemora Turbo & Diesel AB
- Istanbul Marine Turbine Service
- Kompressornenbau Bannewitz GmbH
- Liaoning Rongi Turbocharger Co. Ltd.
- Mitsubishi Heavy Industries
- MTU Friedrichshafen
- PBS Turbo s.r.o.
- Shanghai Daewin Marine Parts
Buy an Exclusive Research Report at https://www.transparencymarketresearch.com/checkout.php?rep_id=74053<ype=S
The marine turbocharger market is segmented as follows;
Marine Turbocharger Market, by Operation Type
- Axial
- Radial
Marine Turbocharger Market, by Technology
- Single Turbocharger
- Twin Turbocharger
- Electro-Assist Turbocharger
- VGT Turbocharger
- Others
Marine Turbocharger Market, by Vessel Type
- Navy
- Recreational/Private
- Commercial
- Container Ship
- Bulk Carriers
- Oil & Chemical Tankers
- Off-Shore vessels
- Cargo Ships
- Tug Boats
Marine Turbocharger Market, by Component
- Compressor
- Turbine
- Shaft
- Others
Marine Turbocharger Market, by Sales Channel
- OEM
- Aftermarket
Marine Turbocharger Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Browse Latest Automotive and Transport Market Research Reports by TMR:
- Cargo Bike Market – https://www.transparencymarketresearch.com/cargo-bike-market.html
- Vehicle Subscription Market – https://www.transparencymarketresearch.com/vehicle-subscription-market.html
- Bias Tire Market – https://www.transparencymarketresearch.com/bias-tire-market.html
- Automotive Suspension Spring Market – https://www.transparencymarketresearch.com/automotive-suspension-spring-market.html
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
For More Research Insights on Leading Industries, Visit our YouTube channel – https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact
Mr Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY – 12207
United States
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Follow Us: Twitter | LinkedIn
Blog: https://tmrblog.com
Website: http://www.transparencymarketresearch.com
Press Release: https://www.transparencymarketresearch.com/pressrelease/marine-turbocharger-market.htm
