The Industrial Diesel Turbocharger Market Size was valued at USD 4.18 billion in 2023 and is expected to reach USD 8.27 billion by 2031 and grow at a CAGR of 8.9% over the forecast period 2024-2031.
The turbocharger is an integral element of internal combustion engine (ICE) 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.
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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
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.
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%, 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.
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% of the market. The OEM segment is expected to grow at an annual rate of 8.96% during the assessment period.
By End-User:
Marine
Power Generation
Agricultural Equipment
Construction Equipment
Railways
Mining Equipment
Others
By Sales Channel:
OEM
Aftermarket
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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
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.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 4.18 Billion |
| Market Size by 2031 | US$ 8.27 Billion |
| CAGR | CAGR of 8.9% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| 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. |
The Industrial Diesel Turbocharger Market is expected to reach USD 8.27 billion by 2031.
CAGR of Industrial Diesel Turbocharger Market is 8.9 %.
Major players in the market are 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 others in the final report.
The forecast period of the Industrial Diesel Turbocharger Market is 2024-2031.
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 Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
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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