A variety of factors have contributed to increasing demand for fuel efficient and high-power marine vehicles with turbochargers, reports Industry Today.
Marine Turbocharger Market
According to a new report published by Allied Market Research, titled, “Marine Turbocharger Market“ by Type (Commercial, Private, Navy), by Technology (Single Turbocharger, Twin-turbocharger, Electro-assist Turbocharger, Variable Geometry Turbocharger (VGT)), by Component (Compressor, Turbine, Shaft, Others), by Operation (Axial Flow Turbocharger, Radial Flow Turbocharger), by End Use Industries (Navy Defence Systems, Cargo Shipping Industries, Fisheries, Oil Gas), by Application (Cargo Ships, High Speed Boats, Cruises, Naval Ships) and by System (Constant Pressure System Turbocharging, Pulse System Turbocharging): Global Opportunity Analysis and Industry Forecast, 2023-2032.
A turbocharger is a device that pumps more air into an engine cylinder which increases flow of fuel into the engine, thus increasing power of engine. It consists of a turbine, shaft, air compressor, and other components. There are two types of turbochargers on the basis of exhaust flow, namely axial flow turbochargers and radial flow turbochargers. Since exhaust gases of the same engine are used to rotate the turbine of a turbocharger, there is no additional power required to use turbocharger, which increases the efficiency of the engine. Turbochargers in marine engines contribute more than 75% of the power of the engine.
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The key players profiled in this report include ABB, MAN Energy Solutions, Napier Turbochargers Ltd., IHI Corporation, Cummins Inc., BorgWarner Turbo Systems, Weifang FuYuan Turbochargers Co. Ltd., ROSHOW GROUP CO. LTD, Kangyue Technology Co. Ltd., Kawasaki Heavy Industries Ltd.
Rise in marine tourism
Marine tourism destinations in Greece, France, Indian Ocean, and Caribbean Sea are amongst the most attractive marine tourist destinations of the world. Water sports, deep diving, water skiing etc attracts several travellers across the world. Moreover, the trend of owning a yacht or a boat is also rising, owing to an increase in disposable income of the people. Such factors have contributed to the increased demand for fuel efficient and high-power marine vehicles with turbochargers. Hence, with the rise in marine tourism, the marine turbocharger market is expected to grow further.
Rise in marine tourism, increase in consumption of precious metals & minerals, and increasing demand for enhanced performance of ships with surging seaborne trade across nations are the factors which drive the market. However, the high cost of turbochargers is limiting the growth of the marine turbocharger market. Further, technological advancements in ship engines are opportunistic for marine turbocharger market.
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Source: Industry Today
