Marine Turbochargers Market Latest News, Cost Profit Structure and Market Share Till 2027

Marine Turbocharger: Introduction

Turbocharger is a device that pumps more air into an engine cylinder, making higher amount of fuel flow into the engine cylinder, and thereby increasing the engine power. It consists of a turbine, an air compressor, a shaft, and other components. Using turbocharger has allowed automakers and engine manufacturers to increase the power of an IC engine without the need to increase the cylinder capacity.
Exhaust gases of the same engine are used to rotate the turbine of a turbocharger by which air is sucked into the turbocharger. This air is then compressed and released into the engine cylinder. This excess air causes more fuel to flow into the engine cylinder. This excess fuel improves the power of the engine, thus increasing power to weight ratio of the engine.

Key Drivers of Global Marine Turbocharger Market

Organizations, such as European Environmental Agency, United Nations Economic Commission for Europe, and World Health Organization (WHO) have released various reports and analysis pertaining to the deteriorating air quality and its effects on the environment. As per the new data published by WHO on May 2, 2018, 9 out of 10 people worldwide breathe polluted air, causing death of over 7 million people every year.
In order to control air pollution and address climate change, regulatory framework of government authorities, such as the U.S. Environmental Protection Agency, Environmental Protection UK, and China Air Pollution Control Law in China, Environment Protection Act in India, and the Air Pollution Control Act in Japan, is being adopted worldwide
The turbocharger technology is utilized in marine engine in order to increase engine power. Ships have multiple engines for safety and increasing power. Exhaust of these multiple engines are connected to a single turbocharger turbine driven by exhaust gases. Turbochargers are designed to increase the power output of engines by increasing the amount of fuel in engine cylinders. This has enabled engine manufacturers to decrease the size of engines and obtain the required power output by installing turbochargers.
Increase in consumption of precious metals and minerals, owing to rise in production of electronics, household utensils, and automobiles, have depleted the current mining industry. This has led to increase in search for mining resources in seas. This has led to the increased use of energy-efficient engines and turbochargers.
Marine tourism is growing in the Americas, Europe, and Asia Pacific. This has led to an increase in sale of private and luxury boats, such as yachts, catamarans, houseboats, etc. This is fueling the demand for turbocharger-enabled boasts that offer high power delivery.

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Marine Tourism Segment to Offer Lucrative Opportunities

Marine tourist destinations in Indian Ocean and Caribbean Sea, and countries in Europe and the U.S., such as Greece, France, Rome, Florida, and Hawaii, are the most attractive marine tourist destinations in the world. Several travelers from across the world visit these places every year, thus driving the tourism industry.
Water sports, deep diving, snorkeling, and water skiing are tourist attractions. Moreover, the trend of owing a yacht or a boat is also rising, owing to increase in disposable income of the people.
These factors have led to the increase in demand for fuel-efficient, high power marine vehicles with turbochargers, thus driving the market

Stringent Government Regulations to Hamper Global Marine Turbocharger Market

Air pollution caused due to emissions from the automotive industry is one of the major reasons of poor air quality. This has led government organizations and regulatory authorities worldwide to impose stringent regulations on vehicles and industries to reduce air pollution. For instance, The Marine Environment Protection Committee (MEPC), within International Maritime Organization (IMO), has mandated MARPOL Annex VI, that defines engine and vessel requirements related to air pollution.
As of January 1, 2016, engines installed on new and modified marine vessels must follow the MARPOL Annex VI in order to reduce NOX and CO2 emissions caused by IC engines. This has restricted the use of gasoline-powered engines.
Rising trend of electrically operated marine vehicles is hampering market

North America to Dominate Global Marine Turbocharger Market

Technological advancements, owing to R&D activities carried out by a large number OEMs and aftermarket players in the region, are key factors driving the adoption of turbochargers in marine vessels. For instance, companies such as Honeywell International Inc., ABB, etc. have developed turbochargers for use in low speed marine vehicles and high speed marine vehicles.
There is an increase in the sales of luxury marine vessels, such as motorboats, yachts, houseboats, etc., owing to popular marine tourism destinations in the region. This, in turn, is driving the demand for turbochargers, which increase fuel efficiency and power delivery of marine vehicles.

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Key Players Operating in Global Marine Turbocharger Market

The global marine turbocharger market is highly concentrated with top manufacturers. Some of the key players operating in the global marine turbocharger market are:

ABB
Cummins Inc.
MAN Energy Solutions
Rolls-Royce
BorgWarner Turbo Systems
Napier Turbochargers Ltd.
Mitsubishi Heavy Industries Marine Machinery & Equipment Co., Ltd.
PBS Group, a. s.
Honeywell International Inc.
Main Turbo Systems, Inc.
Kawasaki Heavy Industries, Ltd.

Global Marine Turbocharger Market: Research Scope

Global Marine Turbocharger Market, by Type of Marine Vessel

Commercial
Private
Navy

Global Marine Turbocharger Market, by Component

Compressor
Turbine
Shaft
Other

Global Marine Turbocharger Market, by Technology

Single Turbocharger
Twin-turbocharger
Electro-assist Turbocharger
VGT Turbocharger
Other

Global Marine Turbocharger Market, by Manufacturer

OEMs
Aftermarket

Global Marine Turbocharger Market, by Region

North America

U.S.
Canada

Europe

Germany
France
U.K.
Italy
Spain
Russia & CIS
Rest of Europe

Asia Pacific

China
Japan
India
ASEAN
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

GCC
South Africa
Rest of Middle East & Africa

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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

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