Industrial Diesel Turbocharger Market Analysis

Industrial Diesel Turbocharger Market Overview:

Global Industrial Diesel Turbocharger Market is expected to garner a valuation of USD 5,892.3 Million by 2027. is growing at an 8.72% CAGR during the forecast period (2022 and 2030).

The industrial diesel turbocharger market growth is driven by the increasing energy demand and rapid developments in the marine industry. Besides, the growing demand for industrial diesel turbocharger across emerging economies is expected to create growth opportunities for market players.

COVID-19 Analysis

The COVID-19 outbreak severely affected the industrial diesel turbocharger industry, resulting in the closing of several manufacturing facilities across the globe. The pandemic caused huge revenue losses in end-use industries like marine, power generation, agricultural equipment, construction equipment, railways, mining equipment, and others.

The coronavirus lockdown put a brake on the production of several key components in the global market, which, in turn, spiked the prices and lowered the demand for the product. The strict lockdown mandates imposed by governments have restricted cross-border trade between countries, another factor proving to be detrimental for the industrial diesel turbocharger market share. 

However, the industrial diesel turbocharger industry is rapidly returning to normal, mainly due to the increasing use of industrial diesel turbochargers in the burgeoning agricultural equipment and construction equipment sectors. The industrial diesel turbocharger market demand is projected to significantly pick up as companies would look for re-engineering supply chains in the aftermath of COVID-19.

Competitive Landscape

Players Focus on Product Development & Expansion Plan

Highly competitive, the industrial diesel turbocharger market appears fragmented, with several well-established players forming a competitive landscape. Strategic partnerships, mergers & acquisitions, innovation, and expansion remain prevailing key trends for the industrial diesel turbocharger manufacturers as these strategic moves support their growth and expansion plans. They deliver reliable, leading-edge products and services. For which they invest substantially in R&D to develop adept technologies and product portfolio. 

List of Key Companies

Volkswagen AG, Mitsubishi Heavy Industries, Ltd, ABB, Rolls-Royce plc, Toyota Motor Corporation, Cummins Inc, Napier Turbochargers Ltd, Turbo Service International BV, BorgWarner Inc, and Kompressorenbau Bannewitz GmbH are some of the affluent contenders holding sizeable industrial diesel turbocharger market share. 

ABB Turbocharging is at the forefront of the global industry in the manufacture and maintenance of turbochargers used for 500 kW to 80+ MW diesel and gas engines. ABB's innovative, leading-edge technology enables end-users to increase their performance while producing lower emissions and improving fuel consumption in the toughest and harsh environments. 

ABB turbochargers are increasingly used on ships, power stations, gen-sets, diesel locomotives, and large, off-highway vehicles. Its wide service portfolio guarantees Original Parts and Original Service anytime, anywhere.

Industry News

Jan. 26, 2021 – Cummins Inc., a global leader in technology and power solutions, provided a 20-megawatt PEM electrolyzer system to produce green hydrogen. The Cummins electrolyzer system is installed at the Air Liquide hydrogen production facility in Quebec and was operational in late 2020.

Jan. 21, 2021 – Mitsubishi Heavy Industries Engine & Turbocharger (MHIET) and Japan's National Institute of Advanced Industrial Science & Technology (AIST) confirmed the completion of testing of a hydrogen engine to define the conditions needed to achieve stable combustion of 100% hydrogen without emitting CO2. MHIET stated that the joint research with AIST started in fiscal 2019 in order to improve its efforts to build a hydrogen engine based on its current diesel and gas engines.

Sep. 03, 2020 – Motor-Services Hugo Stamp, Inc. (MSHS), a supplier of diesel engine products and services, has completed the acquisition of TurboUSA, Inc., a provider of turbocharger maintenance and repair services. The acquisition is part of the company's investment plan to drive the company's continued growth as well as the ways in which it serves the marine and industrial markets.

Market Dynamics 

Drivers

• 
  

  Industrial diesel turbocharger Demand is to Bolster Further

  
  

The demand for industrial diesel turbocharger is expected to grow significantly during the forecast period. Factors such as rising usages of diesel turbochargers in marine, power generation, agricultural equipment, construction equipment, railways, mining equipment, and others boost the market demand. Furthermore, the rising need for machine safety and operation enhancement influences the industrial diesel turbocharger market size.

Opportunities

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  Emerging Nations to Offer Robust Opportunities

  
  

Emerging markets across the globe are projected to present untapped opportunities for pneumatic component uses. Over the last decade, Asia Pacific has become a global manufacturing hub for marine, agriculture, and construction equipment. Many key companies are setting-up high-volume production facilities in the region. Additionally, significant demand for industrial diesel turbocharger from power generation and railway sectors in emerging countries would offer vast, lucrative opportunities to global firms in the near future.

Restraints & Challenges

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  High Maintenance & Operational Costs Restrain Market Growth

  
  

There are several small components and devices used in industrial diesel turbochargers. Fluctuations in the prices and the demand-supply gap in various key components are major factors restraining the growth of the market. Moreover, high maintenance and operational costs are presenting major challenges to the market growth. Also, industrial diesel turbocharger technology is a little expensive, which often increases its overall market price. Therefore, the high costs are considered as a major factor projected to challenge the market growth.

Segment Overview 

Industrial Diesel Turbocharger Market is segmented on the basis of Sales Channel, End User, and Region. 

OEM is the Largest Sales Channel

The sales channel segment is sub-segmented into OEM and aftermarket. The OEM segment holds the largest market share. In 2019, the segment accounted for 72.11% market share, with a market value of USD 2,192.1 million. The OEM segment is estimated to grow at an 8.96% CAGR during the assessment period.

Marine is the Largest End User Segment 

The end user segment is sub-segmented into marine, power generation, construction equipment, agricultural equipment, railways, mining equipment, and others. Among these, the marine segment accounts for the largest market share. In 2019, the segment accounted for a 22.60% market share, with a market value of USD 687.0 million. The marine segment is likely to grow at an 8.98% CAGR during the assessment period.

APAC is the Largest Industrial Diesel Turbocharger Market

By region, the market is bifurcated into the Americas (US, Canada, Mexico, Rest-of-North America) and South America, Europe (the UK, Germany, France, Italy, and Rest-of-Europe), Asia Pacific (China, Japan, India, South Korea, and Rest-of-the-APAC), and Rest-of-the-World. Among these, the Asia Pacific region accounts for the largest market share, followed by North America and Europe, respectively. 

Regional Analysis

APAC Dominates the Global Industrial diesel turbocharger Market. 

The Asia Pacific region is expected to remain a highly attractive market for industrial diesel turbocharger during the assessment period. Rapid growth in industries, such as marine, railways, power, and construction, increase the region's industrial diesel turbocharger market share. 

India, China, South Korea, Singapore, and Thailand are major revenue contributors to the industrial diesel turbocharger market in the region. The marine industry in this region is growing due to the rising seaborne trade in several countries, including China, South Korea, and India, which, in turn, increases the demand for industrial diesel turbochargers. 

North America Seizes Second Highest Share

North America captures the second-highest share in the global industrial diesel turbocharger market. The region is a lucrative market for industrial diesel turbochargers. Factors such as the augmenting demand for power and the use of different energy sources and technologies in power generation foster the industrial diesel turbocharger market size in the region. Additionally, increasing shipbuilding investments and growing international seaborne trade are the major factors driving the industrial diesel turbochargers market growth.

Europe Derives a Considerable share in the Global Market

Europe generates a substantial demand for industrial diesel turbocharger globally, which influences the total valuation of this market. Heightened demand for industrial diesel turbochargers and the investments by several end-use industries position Europe among the strongest contenders in the global market. Furthermore, significant expansions of the prominent end-use industries like power generation and mining equipment, and others in the region add to the industrial diesel turbocharger market value.

Recent Developments

Jan. 26, 2021 – Global technology and power solutions leader Cummins Inc. provided a 20-megawatt PEM electrolyzer system to generate green hydrogen. The Cummins electrolyzer system is implemented at the Air Liquide hydrogen production facility in Quebec and began commercial operation in late 2020.

Jan. 21, 2021 – Mitsubishi Heavy Industries Engine & Turbocharger (MHIET) and National Institute of Advanced Industrial Science & Technology (AIST) Japan announced the completion of testing of a hydrogen engine to identify the conditions required to achieve stable combustion of 100% hydrogen without emitting CO2. MHIET said that it began the joint research with AIST in fiscal 2019 to strengthen its efforts to develop a hydrogen engine-based on its existing diesel and gas engines.

Sep. 03, 2020 – Motor-Services Hugo Stamp, Inc. (MSHS), a provider of diesel engine products and services, announced the completion of the acquisition of TurboUSA, Inc., a provider of maintenance and repair services for turbochargers. The acquisition forms part of the company's investment strategy to fuel the company's continued growth and the ways the company serves marine and industrial markets.

Report Overview 

The industrial diesel turbocharger market analysis feature unique and relevant factors anticipated to significantly impact the market growth during the assessment period. The detailed research report would help industry players to understand the market better. The report defines the historical and current industrial diesel turbocharger market trends boosting the growth of the market. 

Additionally, the COVID-19 impact on the industrial diesel turbocharger industry is also included in the report. Regional assessment in this report and unlocks several untapped opportunities in regional and international markets. Detailed company profiling enables users to evaluate company shares, scope for existing & emerging product lines in new markets, pricing strategies, innovation possibilities, and much more.

Segmentation Table

Sales Channel

• OEM


• Aftermarket

End-User

• Marine


• Power Generation


• Agricultural Equipment


• Construction Equipment


• Railways


• Mining Equipment


• Others 

Region 

• North America


• Europe


• Asia Pacific


• Rest of the World (RoW)