Global Industrial Diesel Turbocharger Market Research Report – Forecast till 2026
Global Industrial Diesel Turbocharger Market Overview
The Global Industrial Diesel Turbocharger Market is anticipated to exhibit a healthy CAGR of 8.72% to reach a value of USD 5,420.3 Million during the forecast period. A turbocharger is comprised of two principal components namely the turbine and the blower.
The turbine is made up of the turbine wheel and the turbine housing. Turbine housing redirects the exhaust gas into the turbine wheels. The energy from the exhaust gas turns the turbine wheel, and the gas at that point leaves the turbine housing through an exhaust outlet region.
The global industrial diesel turbocharger market is expected to register significant market growth owing to the rising energy demand and rapid developments in the marine industry. However, surged maintenance and operational costs are expected to hinder the market growth during the review period.
The increasing demand for industrial diesel turbocharger across developing countries is estimated to create attractive growth opportunities for major market players. However, high maintenance and operational costs are expected to hinder the market growth globally.
Moreover, the rising demand for industrial diesel turbocharger across developing regions is estimated to create lucrative growth opportunities for major market players during the study period.
Global Industrial Diesel Turbocharger Market Segmentation
Global Market for Industrial Diesel Turbochargers has been classified based on Sales Channel and End User.
Depending on Sales Channel, the global market has been bifurcated into OEM and aftermarket. The OEM segment accounted for the larger market share of 72.11%, with a market value of USD 2,192.1.
In terms of the end-user segment, the global market has been categorized into marine, power generation, agricultural equipment, construction equipment, railways, mining equipment, and others.
Based on region, the report on the global industrial diesel turbocharger market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to lead the market owing to the largest market share of 37.00% in 2019. The regional market has experienced significant growth in the last two decades owing to the surging marine, power, railways, and construction industries in emerging economies such as India, China, South Korea, Singapore, and Thailand.
Moreover, Industrial diesel turbochargers are widely installed in the marine industry in this region. The market growth in Asia-Pacific is driven by the increasing seaborne trade in several countries, including China, South Korea, and India.
North America is expected to contribute to the second largest market of the global industrial diesel turbocharger market owing to the rising demand for power and the use of different energy sources and technologies in power generation.
The growth of the vendors is attributed to the market conditions, government support, and industrial development. Hence the vendors should concentrate on bolstering their presence and enhancing their services. Mitsubishi Heavy Industries, Ltd, Volkswagen AG, ABB, Rolls-Royce plc, Cummins Inc, Toyota Motor Corporation, Napier Turbochargers Ltd, BorgWarner Inc, Turbo Service International BV, and Kompressorenbau Bannewitz GmbH are some of the major players operating in the global market.
COVID 19 Impacts
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Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
Power Rental Market: By Fuel Type (Diesel Generators and Gas Generators); By Power Rating (Less Than 50 KW, 51 KW to 500 KW and Above 500 KW); By Application (Peak Shaving, Base Load and Standby); By End-User (Utilities, Oil & gas, Events, Construction, Mining, Manufacturing, Telecom & Datacenter and Others); and Region – Global Analysis by Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030