Global marine turbocharger market is anticipated to depict a CAGR of 7.8% through 2026, having recorded a valuation of USD 559.5 million in 2019. By 2026, the market is expected to hit a remuneration of USD 787.9 million.

Amidst the expanding sea-borne trade and a subsequent rise in the demand for sea vessels, it would be imperative to note that the global marine turbocharger market is poised to witness tremendous growth over the upcoming years. Considering the thriving market space, several shipping companies are looking forward to enhancing the ability of cargo transport as well as the size of the ships in order to increase seaborne trade which is likely to open new growth avenues for the industry.

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Another important growth rendering factor complementing the market growth  is the stringent regulatory scenario regarding toxic emissions. For instance, the IMO emission standards necessitate the usage of marine turbocharging systems for reducing nitrogen oxide exhaust.

With regards to operation, axial segment is likely to show considerable growth over the foreseeable future owing to the vital role of axial flow in the overall system. It compresses the air into a very small space with the help of axial compressor fans or impeller. With the growing demand for sea vessels driven by the expanding cargo trade, axial flow turbochargers are experiencing a heightened demand which has urged the manufacturers to develop new products for effectively meeting the consumer demand.

Based on technology, electric-assist turbocharger segment is estimated to register significant gains over the upcoming years. This can be attributed to the advantages associated with this technology such as lower specific fuel consumption in low load situations and at high speeds. These turbochargers also retain speed variations. Moreover, electric-assist turbochargers offer high efficiency as compared to the traditional systems and provide higher reliability and improved overall performance of the system.

In terms of the application segmentation, military segment is anticipated to grow substantially over the forthcoming years owing to increased adoption of marine turbochargers driven by growing demand for military ships. Besides, introduction to technological developments such as ANSYS and FEA techniques has offered versatility in the development processes which allows later stage modifications in turbochargers which will enhance the segment growth further.

Elaborating further, recreational boats segment across marine turbocharger market is anticipated to observe a notable growth during the coming years. The growth can be credited to increasing demand for recreational boats integrated with advanced propulsion technology. This is majorly due to the rising popularity of recreational sports activities coupled with increased disposable income.   

Apart from the above-mentioned segments, strategic initiatives undertaken by key market players in marine turbochargers market are also playing a major role in enhancing the business growth. For instance, in 2020, Mitsubishi (MHI-MME) took over the manufacturing of MET turbochargers from Mitsubishi Hitachi Power Systems, Ltd. effective from 1st January 2020.

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Some Point from Table of Contents:

Chapter 4   Marine Turbocharger Market, By Mode of Operation

4.1    Global marine turbocharger market share by mode of operation, 2019 & 2026

4.2    Axial

4.2.1    Market estimates and forecast, 2016 - 2026

4.2.2    Market estimates and forecast, by region, 2016 - 2026

4.3    Radial

4.3.1    Market estimates and forecast, 2016 - 2026

4.3.2    Market estimates and forecast, by region, 2016 – 2026

Chapter 5   Marine Turbocharger Market, By Technology

5.1    Global marine turbocharger market share by technology, 2019 & 2026

5.2    Single Turbo

5.2.1    Market estimates and forecast, 2016 - 2026

5.2.2    Market estimates and forecast, by region, 2016 - 2026

5.3    Twin Turbo

5.3.1    Market estimates and forecast, 2016 - 2026

5.3.2    Market estimates and forecast, by region, 2016 – 2026

5.4    Electro-assist Turbo

5.4.1    Market estimates and forecast, 2016 - 2026

5.4.2    Market estimates and forecast, by region, 2016 – 2026

5.5    Variable Geometry Turbo

5.5.1    Market estimates and forecast, 2016 - 2026

5.5.2    Market estimates and forecast, by region, 2016 - 2026

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