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Industrial Diesel Turbocharger Market Share

ID: MRFR//8880-CR | 154 Pages | Author: Sejal Akre| December 2020

In the fiercely competitive landscape of the industrial diesel turbocharger market, companies employ various market share positioning strategies to gain a competitive edge. Differentiation based on the technological innovation is one very common method. Industries drive the turbocharger’s better performance and efficiency with the investment of many companies R&D.
Through innovations in the modern technologies like variable geometry turbocharging or new materials, companies strive to stand out and capture the market of customers seeking great quality products. A second critical strategy centers around the pricing and cost leadership. Some players in the market use a cost-effective approach that allows them to compete on price without losing any quality.
By achieving scale economies and efficient production technologies, these companies can reach the customers who are in cost-sensitive markets thus they also increasing their market share. The bundle offering or promotional discounts that can make it possible to secure a good foothold in the price-sensitive market environment. The last of these is represented by collaboration and also strategic partnerships in the market positioning.
Companies can form partnerships with the OEMs, distributors or even research centers to expand their market base and become more powerful. Through partnerships with respected industry leaders, the companies gain access to alot of new customer pools and supply lines which enhance their market influence. Collaborative ventures allow resource and expertise pooling, hence they also encouraging innovation to respond appropriately to the market dynamics.
The industrial diesel turbocharger market requires a global expansion as a vital strategy. Companies aim at entering into new territories with a high demand for the products. They are able to develop their products and services that meet the very specific needs of different markets when they know how requirements vary across the different markets. This approach not only creates a larger market share but also serves as an insurance against economic fluctuations by the region.
It is through creating a strong global presence that the market position becomes more resilient and also adaptive. In addition, the adoption of customer-centric strategies is very important in the market share positioning. Companies who focus on the satisfaction of their customers through post-sales support, warranty programs and responsive technical assistance form lasting relationships.
When satisfied, the customers are more likely to turn into repeat sales and referral users that will ensure a positive impact on the market share. Furthermore, the practice of monitoring and incorporating customer feedback into the product development processes allows organizations to take notions about what customers want from markets.
Environmental sustainability has emerged as a very key factor that influences the market positioning strategies.
Growing issues of climate change and emissions have given the industrial diesel turbocharger market companies a chance to invest in greener technologies. Customers who care for the environment, governance and also regulatory trends favor the turbocharger design aimed at increased fuel efficiency and lessened emissions. The adoption of sustainable practices goes far beyond just enhancing a company’s image but it also presents it in the best way possible to the markets where environmental considerations hold alot of value.

Covered Aspects:

Report Attribute/Metric Details
Base Year For Estimation   2021
Forecast Period   2022-2030
Growth Rate   8.72% (2022-2030)

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


The plant expansion in Wuhan was completed in June 2023 with the installation of Garrett Motion’s first high-speed automated production line for advanced variable nozzle technology (VNT) used in turbo-passenger vehicles.


In April 2023, at Auto Shanghai 2023, Garrett Motion Inc. premiered its latest e-mobility and turbocharger technologies.


Garrett Motion announced the launching of its new Ford F-150 Raptor turbocharger in March 2023. The new turbocharger is built to forge more power and torque and also enhance fuel economy.


Delphi Technologies’ turbocharger business acquisition by BorgWarner was announced in February 2023. The move will ensure that BorgWarner strengthens its position within the global turbos market as well as widens its product range.


The launch by Mitsubishi Heavy Industries of a new Toyota GR Yaris Turbocharger took place on January 2023. The brand-new turbocharger is designed to deliver more power and torque while improving fuel economy.


Next Generation E-Boosting Technologies were unveiled by Garrett Motion Inc. (Honeywell) during the Shanghai auto show held in April 2022, which would be utilized in hybrid fuel cell cars to improve fuel efficiency while reducing exhaust emissions.


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




  • 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




  • 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



End-User



  • Marine

  • Power Generation

  • Agricultural Equipment

  • Construction Equipment

  • Railways

  • Mining Equipment

  • Others 


Region 



  • North America

  • Europe

  • Asia Pacific

  • Rest of the World (RoW)

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