PUBLISHER: Grand View Research | PRODUCT CODE: 1553993
PUBLISHER: Grand View Research | PRODUCT CODE: 1553993
Marine Turbochargers Market Size, Share & Trends Analysis Report By Type (Axial Turbocharger, Radial Turbocharger), By Technology, By Application (Military, Cargo Ships, Tankers), By Region, And Segment Forecasts, 2024 - 2030
Marine Turbochargers Market Size & Trends:
The global marine turbochargers market size was estimated at USD 829.5 million in 2023 and is expected to grow at a CAGR of 4.9% from 2024 to 2030. The increasing demand for fuel efficiency, growing emphasis on reducing emissions, and the expansion of shipping industry, particularly in emerging economies is fueling the need for more efficient and powerful marine engines, thereby boosting the demand for marine turbochargers. Furthermore, the increasing trend towards retrofitting older vessels with modern turbocharging solutions to meet new regulatory standards is expected to fuel market growth in coming years.
The market is witnessing rapid technological advancements aimed at enhancing performance and reducing emissions. Innovations such as variable geometry turbochargers (VGT), twin-turbo systems, and electro-assist turbochargers are gaining traction, allowing for better optimization of engine power and fuel consumption. The integration of advanced simulation tools such as ANSYS and finite element analysis (FEA) methodologies has enabled manufacturers to refine turbocharger designs, improving their operational efficiency and adaptability to various marine applications. These trends are expected to accelerate market growth in the coming years.
Turbochargers recycle exhaust gases to enhance engine performance, thereby improving overall efficiency. As shipping companies are seeking to lower operational costs while adhering to strict environmental regulations, the demand for advanced turbocharging technologies that offer better fuel economy is expected to continue to rise in coming years, thereby fueling the demand of marine turbochargers.
Furthermore, the maritime industry is increasingly shifting towards liquefied natural gas (LNG) as a cleaner alternative to traditional marine fuels. LNG-powered vessels require specialized turbochargers to optimize engine performance and efficiency. This trend is expected to boost the demand for marine turbochargers designed for LNG engines, as ship owners aim to comply with environmental regulations and reduce operating costs.
Moreover, the integration of digital monitoring and diagnostic systems in marine turbochargers is an emerging trend in the market. These systems provide real-time data on turbocharger performance and condition, enabling predictive maintenance and reducing downtime. By leveraging advanced sensors and analytics, ship operators can optimize maintenance schedules, enhance vessel reliability, and reduce operational costs. This trend aligns with the broader adoption of digitalization in the maritime industry.
Global Marine Turbochargers Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global marine turbochargers market report based on type, technology, application, and region:
- Type Outlook (Revenue, USD Million, 2018 - 2030)
- Axial Turbocharger
- Radial Turbocharger
- Technology Outlook (Revenue, USD Million, 2018 - 2030)
- Single Turbocharger
- Twin Turbocharger
- Variable Geometry Turbocharger (VGT)
- Electric Assisted Turbocharger
- Application Outlook (Revenue, USD Million, 2018 - 2030)
- Military
- Cargo Ships
- Cruise Ships
- Tankers
- Others
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Asia Pacific
- China
- Australia
- Japan
- India
- South Korea
- Latin America
- Brazil
- Middle East & Africa
- South Africa
- Saudi Arabia
- Turkey
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definitions
- 1.3. Information Procurement
- 1.3.1. Information analysis
- 1.3.2. Market formulation & data visualization
- 1.3.3. Data validation & publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Marine Turbochargers Market Snapshot
- 2.2. Marine Turbochargers Market- Segment Snapshot
- 2.3. Marine Turbochargers Market- Competitive Snapshot
Chapter 3. Marine Turbochargers Type Market Industry Outlook
- 3.1. Market Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.2. Market Restraint Analysis
- 3.3.3. Industry Challenges
- 3.3.4. Industry Opportunities
- 3.4. Industry Analysis Tools
- 3.4.1. Porter's Five Forces analysis
- 3.4.2. Macroeconomic analysis
- 3.5. Marine Turbochargers Market: Technology Trends
Chapter 4. Marine Turbochargers Market: Type Estimates & Trend Analysis
- 4.1. Type Movement Analysis & Market Share, 2023 & 2030
- 4.2. Marine Turbochargers Market Estimates & Forecast, By Type (USD Million)
- 4.2.1. Axial Turbocharger
- 4.2.2. Radial Turbocharger
Chapter 5. Marine Turbochargers Market: Technology Estimates & Trend Analysis
- 5.1. Technology Movement Analysis & Market Share, 2023 & 2030
- 5.2. Marine Turbochargers Market Estimates & Forecast, By Technology (USD Million)
- 5.2.1. Single Turbocharger
- 5.2.2. Twin Turbocharger
- 5.2.3. Variable Geometry Turbocharger (VGT)
- 5.2.4. Electric Assisted Turbocharger
Chapter 6. Marine Turbochargers Market: Application Estimates & Trend Analysis
- 6.1. Application Movement Analysis & Market Share, 2023 & 2030
- 6.2. Marine Turbochargers Market Estimates & Forecast, By Application (USD Million)
- 6.2.1. Military
- 6.2.2. Cargo Ships
- 6.2.3. Cruise Ships
- 6.2.4. Tankers
- 6.2.5. Others
Chapter 7. Regional Estimates & Trend Analysis
- 7.1. Marine Turbochargers Market by Region, 2023 & 2030
- 7.2. North America
- 7.2.1. North America Marine Turbochargers Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.2.2. U.S.
- 7.2.3. Canada
- 7.2.4. Mexico
- 7.3. Europe
- 7.3.1. Europe Marine Turbochargers Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.3.2. UK
- 7.3.3. Germany
- 7.3.4. France
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific Marine Turbochargers Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.4.2. China
- 7.4.3. Japan
- 7.4.4. India
- 7.4.5. South Korea
- 7.4.6. Australia
- 7.5. Latin America
- 7.5.1. Latin America Marine Turbochargers Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.5.2. Brazil
- 7.6. Middle East & Africa (MEA)
- 7.6.1. MEA Marine Turbochargers Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.6.2. Turkey
- 7.6.3. Saudi Arabia
- 7.6.4. South Africa
Chapter 8. Marine Turbochargers Market - Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company Categorization
- 8.3. Participant's Overview
- 8.4. Financial Performance
- 8.5. Product Benchmarking
- 8.6. Company Market Positioning Analysis
- 8.7. Company Heat Map Analysis
- 8.8. Strategy Mapping
- 8.8.1. Expansion/Divestiture
- 8.8.2. Collaborations/Partnerships
- 8.8.3. New Product Launches
- 8.8.4. Mergers & Acquisitions
- 8.9. Company Profiles
- 8.9.1. ABB Ltd.
- 8.9.1.1. Participant's Overview
- 8.9.1.2. Financial Performance
- 8.9.1.3. Product Benchmarking
- 8.9.1.4. Recent Developments
- 8.9.2. Mitsubishi Heavy Industries Marine Machinery & Engine Co. Ltd.
- 8.9.2.1. Participant's Overview
- 8.9.2.2. Financial Performance
- 8.9.2.3. Product Benchmarking
- 8.9.2.4. Recent Developments
- 8.9.3. Cummins Inc.
- 8.9.3.1. Participant's Overview
- 8.9.3.2. Financial Performance
- 8.9.3.3. Product Benchmarking
- 8.9.3.4. Recent Developments
- 8.9.4. Akil Corporation
- 8.9.4.1. Participant's Overview
- 8.9.4.2. Financial Performance
- 8.9.4.3. Product Benchmarking
- 8.9.4.4. Recent Developments
- 8.9.5. BorgWarner Turbo Systems
- 8.9.5.1. Participant's Overview
- 8.9.5.2. Financial Performance
- 8.9.5.3. Product Benchmarking
- 8.9.5.4. Recent Developments
- 8.9.6. Rolls-Royce plc
- 8.9.6.1. Participant's Overview
- 8.9.6.2. Financial Performance
- 8.9.6.3. Product Benchmarking
- 8.9.6.4. Recent Developments
- 8.9.7. Wabtec Corporation
- 8.9.7.1. Participant's Overview
- 8.9.7.2. Financial Performance
- 8.9.7.3. Product Benchmarking
- 8.9.7.4. Recent Developments
- 8.9.8. PBST
- 8.9.8.1. Participant's Overview
- 8.9.8.2. Financial Performance
- 8.9.8.3. Product Benchmarking
- 8.9.8.4. Recent Developments
- 8.9.9. Hedemora Turbo & Diesel AB
- 8.9.9.1. Participant's Overview
- 8.9.9.2. Financial Performance
- 8.9.9.3. Product Benchmarking
- 8.9.9.4. Recent Developments
- 8.9.10. C Kompressorenbau Bannewitz GmbH
- 8.9.10.1. Participant's Overview
- 8.9.10.2. Financial Performance
- 8.9.10.3. Product Benchmarking
- 8.9.10.4. Recent Developments
- 8.9.1. ABB Ltd.
List of Tables
- Table 1 Marine Turbochargers Market - Key Market Driver Impact
- Table 2 Global Marine Turbochargers Market - Key Market Restraint Impact
- Table 3 Global Marine Turbochargers Market - Key Market Opportunities
- Table 4 Global Marine Turbochargers Market - Key Market Challenges
- Table 5 Marine Turbochargers Market Revenue Estimates and Forecast, By Type, 2018 - 2030 (USD Million)
- Table 6 Marine Turbochargers Market Revenue Estimates and Forecast, By Technology, 2018 - 2030 (USD Million)
- Table 7 Marine Turbochargers Market Revenue Estimates and Forecast, By Application, 2018 - 2030 (USD Million)
- Table 8 Recent Developments & Impact Analysis, By Key Market Participants
- Table 9 Company Heat Map Analysis
- Table 10 Key Companies Launching New Products
- Table 11 Key Companies Pursuing Expansions
- Table 12 Key Companies Pursuing Mergers & Acquisitions
- Table 13 Key Companies Collaborations
List of Figures
- Fig. 1 Market Segmentation And Scope
- Fig. 2 Information Procurement
- Fig. 3 Data Analysis Models
- Fig. 4 Market Formulation And Validation
- Fig. 5 Data Validating & Publishing
- Fig. 6 Market Snapshot
- Fig. 7 Segment Snapshot (1/2)
- Fig. 8 Segment Snapshot (2/2)
- Fig. 9 Competitive Axial Turbochargerscape Snapshot
- Fig. 10 Marine Turbochargers Market , 2018 - 2030 (USD Million)
- Fig. 11 Marine Turbochargers Market - Value Chain Analysis
- Fig. 12 Marine Turbochargers Market - Market Dynamics
- Fig. 13 Marine Turbochargers Market - Porter's Five Forces Analysis
- Fig. 14 Marine Turbochargers Market - PESTEL Analysis
- Fig. 15 Marine Turbochargers Market, By Type : Key Takeaways
- Fig. 16 Marine Turbochargers Market, By Type : Market Share, 2023 & 2030
- Fig. 17 Axial Turbocharger Marine Turbochargers Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 18 Radial Turbocharger Marine Turbochargers Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 19 Marine Turbochargers Market, By Technology : Key Takeaways
- Fig. 20 Marine Turbochargers Market, By Technology : Market Share, 2023 & 2030
- Fig. 21 Single Turbocharger Marine Turbochargers Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 22 Twin Turbocharger Marine Turbochargers Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 23 Variable Geometry Turbocharger (VGT) Marine Turbochargers Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 24 Electric Assisted Turbocharger Marine Turbochargers Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 25 Marine Turbochargers Market, By Application : Key Takeaways
- Fig. 26 Marine Turbochargers Market, By Application: Market Share, 2023 & 2030
- Fig. 27 Military Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 28 Cargo Ships Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 29 Cruise Ships Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 30 Tankers Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 31 Others Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 32 Marine Turbochargers Market Revenue By Region, 2023 & 2030 (USD Million)
- Fig. 33 Regional Marketplace: Key Takeaways
- Fig. 34 North America Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 35 U.S. Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 36 Canada Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 37 Mexico Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 38 Europe Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 39 Germany Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 40 UK Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 41 France Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 42 Asia Pacific Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 43 China Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 44 India Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 45 Japan Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 46 Australia Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 47 South Korea Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 48 Latin America Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 49 Brazil Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 50 MEA Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 51 Saudi Arabia Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 52 South Africa Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 53 Turkey Marine Turbochargers Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 54 Key Company Categorization
- Fig. 55 Strategic Framework
