Industrial Turbocharger Market To Observe Strong Development By 2031

Industrial Turbocharger: Introduction

  • turbocharger comprises a pair of fans that harness waste exhaust power from the back of an engine to cram more air into the front, delivering more efficiency and more power. A turbocharger is made of two main sections: the turbine and the compressor.
  • A turbocharger is used to compress more air flowing into the engine’s cylinder. When air is compressed, the oxygen molecules are packed closer together. This increase in air means that more fuel can be added for the same-sized naturally aspirated engine. Consequently, this generates increased mechanical power and enhances the overall efficiency of the combustion process. Therefore, the engine size can be reduced for a turbocharged engine leading to better packaging, weight saving benefits, and overall improved fuel economy.
  • A turbocharger is a simple, relatively inexpensive, extra bit of kit that can provide more power from the same engine

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Rise in demand in gasoline turbochargers, hybrid vehicles, and electrification

  • Diesel engines have become more mature; all diesel vehicles are equipped with turbochargers as fuel economy and emission have become a concern, which has prompted regulations.
  • Simulation, additive manufacturing, big data, and cloud computing is a well-integrated part of the turbocharger development process. Rise in demand for emission reduction and electrification boosts the development of new technologies.
  • Turbocharging has become one of the go-to technologies in order to downsize combustion engines and reduce emissions but maintain performance
  • Turbochargers are being increasingly adopted in various industries such as marine, oil & gas, power generation, mining and earthmoving equipment, and rails. Industrial turbochargers are also being integrated in farming equipment such as tractors, harvesters, threshing machines, and trucks.
  • Hybrid vehicles are expected to be fitted with a turbo or multiple turbo systems, which in turn is estimated to propel the industrial turbochargers market
  • Vehicles featuring electric motors and battery powered systems with low maintenance cost and longer product life are expected to hamper the automotive segment of the turbochargers market during the forecast period

Europe to account for prominent share of global market

  • Europe is a prominent market for industrial turbochargers. Stringent and new emission norms are estimated to increase sales and market share held by Europe by complying with regulation without compromising in performance, size, and design.
  • Asia Pacific is projected to follow Europe and increase its share in the global market. Countries such as China are enacting stringent emissions regulations which are estimated to boost the development of turbochargers. The market in China is anticipated to expand at a significant pace. The industrial turbocharge market in other countries such as Japan, India, and Korea, is estimated to expand at a moderate pace during the forecast period.
  • North America is expected to witness the trend of downsizing of engines and an increase in adoption of turbocharged engines. The expected recovery of the market in South America is likely to further propel the global market in the next few years.

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Key Players Operating in Industrial Turbocharger Market

Companies holding notable share in the global turbocharger manufacturing industry include

  • Cummins
  • Mitsubishi
  • ABB
  • Honeywell
  • Komatsu
  • Toyota Industries
  • BorgWarner
  • IHI
  • Bosch Mahle

Global: Industrial Turbocharger Market Research Scope

Global Industrial Turbocharger Market, by Type

  • Single-Turbo
  • Twin-Turbo
  • Electric Turbo
  • Variable Geometry Turbocharger
  • Other

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Global Industrial Turbocharger Market, by Fuel

  • Diesel
  • Petrol
  • Gasoline

Global Industrial Turbocharger Market, by Industry or End-user

  • Automotive
  • Marine
  • Oil & Gas
  • Power Generation
  • Mining and Earthmoving Equipment
  • Rails
  • Farming Equipment

Global Industrial Turbocharger Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • Columbia

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

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