Selbyville, Delaware, Oct. 21, 2019 (GLOBE NEWSWIRE) --
The rise of marine turbocharger market share over the projected timeframe will be impelled by increasing production of ships along with proliferating seaborne trade activities. Increasing product demand is attributed towards multiple benefits including higher power density and relatively low emission levels. Increasing inclination of youth population to engage in outdoor recreational activities is positively contributing towards industry growth. Proliferating economic growth in conjunction with increased consumer spending are providing a positive outlook for adoption of new generation powerboats.
Stringent IMO emission requirements are promoting the adoption of latest propulsion systems for reducing the NoX exhaust gas emissions. Marine turbocharger market participants are introducing new repair and remanufacturing techniques utilizing additive manufacturing technologies. Tru-Marine added 3D printing technology for manufacturing nozzle rings, further providing potential opportunities for remanufacturing system components.
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Upgrades in existing systems with twin turbos to provide rapid response at lower engine speeds will support marine turbocharger market growth. Twin turbochargers will showcase positive growth of 6.6% owing to their improved turbocharging efficiency as compared with single turbo with similar pressure ratios. Higher power density coupled with Miller engine cycles significantly contributes towards lower fuel consumption and reduced exhaust gas emissions.
Growing need to improve the fuel efficiency and engine performance is providing potential growth opportunities for development of compressor wheel designs. Utilization of advanced tools including ANSYS and FEA techniques result in flexible development processes enabling modifications at later stages. Higher acceleration, improved velocity and higher compression ratios imparted by advanced compressors will augment the marine turbochargers market penetration over the study timeframe.
Radial marine turbochargers market will witness substantial growth due to the ongoing development activities targeted towards development of advanced designs. Increasing investments for improving R&D and production capabilities will support the industry growth.
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Recreational boats will account for a significant growth in the marine turbocharger market owing to their increasing registrations for leisure activities. Rising consumer spending patterns, along with availability of next generation recreational boats, enables a positive outlook for growth of marine turbochargers. Growing requirements of higher speed and power output for recreational sports activities will further fuel the product demand over the projected timeframe.
The global marine turbochargers market share is highly competitive owing to the presence of key players including MAN Diesel & Turbo, ABB, Napier Turbochargers Ltd., IHI Corporation, Cummins Inc., BorgWarner Turbo Systems, MTU Friedrichshafen and Liaoning RongLi Turbocharger Co., Ltd. Collaborative efforts and partnerships targeted toward product innovation and portfolio expansion are prominently enhancing their profitability.
Browse key industry insights spread across 212 pages with 258 market data tables, figures & charts from the report, “Marine Turbocharger Market By Operation (Axial, Radial), Technology (Single Turbo, Twin Turbo, Electric-assist Turbo, Variable Geometry Turbo), Component (Compressor, Turbine, Central Shaft), Application (Military ships, Commercial Ships, Recreational Boats), Regional Outlook, Price Trend, Competitive Market Share & Forecast 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/marine-turbocharger-market
Table of Contents (ToC) of the report:
Chapter 3. Marine Turbocharger Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 - 2026
3.3. Industry ecosystem analysis
3.3.1. Distribution channel analysis
3.3.2. Vendor matrix
3.4. Innovation & sustainability
3.5. Industry impact forces
3.5.1. Growth drivers
3.5.1.1. Surging sales of recreational boats
3.5.1.2. Growing seaborne trade activities along with increasing ship production
3.5.1.3. Strong presence of manufacturers
3.5.2. Industry pitfalls & challenges
3.5.2.1. High initial and operating cost
3.5.2.2. Design and development challenges
3.6. Regulatory landscape
3.7. Growth potential analysis
3.8. Competitive landscape, 2018
3.8.1. Top players overview
3.8.2. Strategy dashboard
3.9. Porter’s analysis
3.9.1. Supplier power
3.9.2. Buyer power
3.9.3. Threat of new entrants
3.9.4. Threat of substitutes
3.9.5. Industry rivalry
3.10. Price trends
3.10.1. Regional price trends
3.10.2. Cost structure analysis
3.11. PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/marine-turbocharger-market
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