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Industrial Diesel Turbocharger Market

Industrial Diesel Turbocharger Market Size, Share and Segmentation by End-user (Marine, Power Generation, Agricultural Equipment, Construction Equipment, Railways, Mining Equipment, Others), by Sales Channel (OEM, Aftermarket), by Regions and Global Market Forecast 2022-2028

Report Id: SNS/AUTO/1610 | June 2022 | Region: Global | 120 Pages

Industrial Diesel Turbocharger Market Overview:

The Industrial Diesel Turbocharger Market Size was valued at USD 3533.8 million in 2021 and is expected to reach USD 5893.99 million by 2028 and grow at a CAGR of 8.9% over the forecast period 2022-2028.

The turbocharger is an integral element of internal combustion (IC) engine that improves performance by increasing the quantity of air intake in the combustion chamber using expelled burnt air. The turbine and the compressor are the two major components of a turbocharger. The turbine is made up of two parts: a turbine wheel and a turbine housing.

A turbocharger is a device that uses a solid shaft to connect a compressor wheel and an exhaust gas turbine wheel to increase the intake air pressure of an internal combustion engine. An IC engine also requires greater air for the combustion of additional fuel in order to generate huge amounts of power, which reduces its efficiency. As a result, the turbocharger plays a critical role in enhancing efficiency by supplying compressed air.

In March 2021, Cummins Inc., a global leader in technology and power solutions, supplied a 20-megawatt PEM electrolyzer system for green hydrogen production. The Cummins electrolyzer system was installed at the Air Liquide hydrogen manufacturing facility.

MARKET DYNAMICS: 

KEY DRIVERS: 

  • The market demand for diesel turbochargers is increasing as their use grows.

  • The size is influenced by the rising need for machine safety and operational improvement.

  • Government rules are becoming more stringent, which is hastening market expansion.

  • The advantages of an industrial turbocharger over a naturally aspirated engine with the same power output are growing.

RESTRAINTS: 

  • Huge variations in the prices of diesel turbochargers.

  • The demand-supply imbalance in several components is one of the most significant issues restricting the market growth.

  • The cost of industrial diesel turbocharger technology is high, which drives up the whole market price.

OPPORTUNITIES: 

  • Many major corporations are establishing high-volume manufacturing operations in the region.

  • Increasing demand for industrial diesel turbochargers from power generating will present lucrative potential.

  • Production procedures are becoming more technologically advanced and modernized.

CHALLENGES: 

  • High maintenance and operational costs are posing serious obstacles to business growth.

  • Excessive rise in engine temperature owing to turbocharger overheating will pose a new challenge to the market.

  • High prices are thought to be a major stumbling block to corporate expansion.

IMPACT OF COVID-19:

The industrial diesel turbocharger business was badly impacted by the COVID-19 epidemic, which resulted in the closure of several manufacturing plants around the world. End-use sectors such as marine, power generation, agricultural equipment, construction equipment, railways, mining equipment, and others suffered significant income losses as a result of the epidemic. The coronavirus ban halted the manufacture of several important components on the worldwide market, causing costs to rise and demand to fall. Government-imposed rigorous lockdown rules have limited cross-border trade between countries, a factor that has harmed the market share of industrial diesel turbochargers.

The industrial diesel turbocharger business, on the other hand, is quickly returning to normal, thanks to the growing usage of industrial diesel turbochargers in the agricultural and construction equipment sectors. In the aftermath of COVID-19, corporations are expected to re-engineer supply networks, resulting in a considerable increase in demand for industrial diesel turbochargers.

KEY MARKET PLAYERS:

Volkswagen AG, Napier Turbochargers Ltd, Mitsubishi Heavy Industries, Ltd, Rolls-Royce plc, Toyota Motor Corporation, Cummins Inc, ABB, Turbo Service International BV, BorgWarner Inc, and Kompressorenbau Bannewitz GmbH are some of the major players in the Industrial Diesel Turbocharger Market.

MARKET ESTIMATION: 

Market, By End-user:

The market is divided into two categories based on the kind of end-user: Marine, Power Generation, Agricultural Equipment, Construction Equipment, Railways, Mining Equipment, and Others. The marine segment takes up the lion's share of the market. In 2019, the segment had a market share of 22.60 percent, with a market value of USD 687.0 million. The marine category is predicted to grow at an annual rate of 8.98 percent throughout the assessment period.

Market, By Sales Channel:

The market is divided into the sales channel, which is further divided into OEM, and aftermarket. The OEM category owns the majority of the market. In 2019, the segment was worth USD 2,192.1 million, accounting for 72.11 percent of the market. The OEM segment is expected to grow at an annual rate of 8.96 percent during the assessment period.

MARKET SEGMENTATION:

By End-user:

  • Marine

  • Power Generation

  • Agricultural Equipment

  • Construction Equipment

  • Railways

  • Mining Equipment

  • Others 

By Sales Channel:

  • OEM

  • Aftermarket

REGIONAL ANALYSIS:

The Asia Pacific area is likely to remain a very promising market for industrial diesel turbochargers. The region's industrial diesel turbocharger market share is increasing due to rapid growth in industries such as maritime, railways, power, and construction. The industrial diesel turbocharger market in the area is dominated by India, China, South Korea, Singapore, and Thailand. The marine sector in this region is expanding as a result of increased seaborne trade in a number of nations, including China, South Korea, and India, which drives up demand for industrial diesel turbochargers.

Europe has a large demand for industrial diesel turbochargers, which has an impact on the market's overall valuation. Europe is one of the strongest rivals in the worldwide market, thanks to increased demand for industrial diesel turbochargers and investments from a variety of end-use sectors. Furthermore, large expansions of key end-use sectors in the region, including power generation and mining equipment, add to the value of the industrial diesel turbocharger market.

REGIONAL COVERAGE:

  • North America

    • The USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • The UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Industrial Diesel Turbocharger Market Report Scope
Report Attributes Details
Market Size in 2021 US$ 3533.8  Million
Market Size by 2028 US$ 5893.99 Million
CAGR CAGR of 8.9% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by End-user (Marine, Power Generation, Agricultural Equipment, Construction Equipment, Railways, Mining Equipment, Others)
• by Sales Channel (OEM, Aftermarket)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Volkswagen AG, Napier Turbochargers Ltd, Mitsubishi Heavy Industries, Ltd, Rolls-Royce plc, Toyota Motor Corporation, Cummins Inc, ABB, Turbo Service International BV, BorgWarner Inc, and Kompressorenbau Bannewitz GmbH
Key Drivers •The market demand for diesel turbochargers is increasing as their use grows.

•The size is influenced by the rising need for machine safety and operational improvement.
RESTRAINTS •Huge variations in the prices of diesel turbochargers.

•The demand-supply imbalance in several components is one of the most significant issues restricting the market growth.


Frequently Asked Questions (FAQ) :


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of the Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Global Industrial Diesel Turbocharger Market Segmentation, by End-user

8.1 Marine

8.2 Power Generation

8.3 Agricultural Equipment

8.4 Construction Equipment

8.5 Railways

8.6 Mining Equipment

8.7 Others 

 

9. Global Industrial Diesel Turbocharger Market Segmentation, by Sales Channel

9.1 OEM

9.2 Aftermarket

 

10. Regional Analysis

10.1 Introduction

10.2 North America

10.2.1 the USA

10.2.2  Canada

10.2.3  Mexico

10.3 Europe

10.3.1  Germany

10.3.2  the UK

10.3.3  France

10.3.4  Italy

10.3.5  Spain

10.3.6  The Netherlands

10.3.7  Rest of Europe

10.4 Asia-Pacific

10.4.1  Japan

10.4.2  South Korea

10.4.3  China

10.4.4  India

10.4.5  Australia

10.4.6  Rest of Asia-Pacific

10.5 The Middle East & Africa

10.5.1  Israel

10.5.2  UAE

10.5.3  South Africa

10.5.4  Rest

10.6 Latin America

10.6.1  Brazil

10.6.2  Argentina

10.6.3  Rest of Latin America

 

11. Company Profiles

11.1 ABB

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 SWOT Analysis

11.1.4 The SNS view

11.2 Volkswagen AG

11.3 Napier Turbochargers Ltd

11.4 Mitsubishi Heavy Industries, Ltd

11.5 Rolls-Royce plc

11.6 Toyota Motor Corporation

11.7 Cummins Inc

11.8 ABB

11.9 Turbo Service International BV

11.10 BorgWarner Inc

11.11 Kompressorenbau Bannewitz GmbH

 

12. Competitive Landscape

12.1 Competitive Benchmarking

12.2 Market Share analysis

12.3 Recent Developments

 

13. Conclusion

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

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This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

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