Marine Turbochargers Market Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2018-2028
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The global cruise industry has witnessed a positive trend with the rise in tourism activities, increased per capita income, and globalization. This has led to rising demand for marine vessels where marine turbochargers are highly sought after in marine engines. Further, a steady growth of the seaborne trade and growing reliance on coastal activities have, in turn, increased the volume of the marine fleet. Factors as such have increased the importance of marine engine efficiency which is largely determined by marine turbochargers. By boosting the air density of the entire engine, marine turbochargers enhance overall output power.
Marine Turbochargers Market: Introduction
Marine turbochargers are add-on mechanical equipment used to facilitate better combustion in marine engines. Turbochargers in marine engines tend to contribute for more than 75% of the power of the engine. A typical marine turbocharger consists of a single stage impulse turbine, which is connected to a centrifugal impeller with a shaft as a medium in between the two. The impulse turbine is driven by hot exhaust gases from the engine. These gases are expanded through a nozzle ring. Here, the pressure energy thus created is converted into kinetic energy. This energy is utilized by the turbine blades to rotate the turbine at high velocities. Thereafter, the gases move out of the system through an outlet valve. On the other side, fresh air enters the system through a compressor and the kinetic energy in it is converted into potential energy (pressure). The air is cooled before it enters the engine through an inlet valve.
There are two types of turbocharges on the basis of exhaust flow, namely axial flow turbochargers and radial flow turbochargers. Marine turbochargers are available in a wide range and are priced according to the application requirements. Most of the larger ships are equipped with two-stroke diesel engines rather than the standard four-stroke diesel engines. This can be primarily attributed to the advantages offered by the former type with respect to power to weight ratio and abilities to burn low grade fuel, which can help cut down the overall operational costs of the ship. In such large two-stroke engines, the implementation of turbochargers is crucial in order to facilitate better flow of air into the system. Turbocharging technology is of immense importance in the marine industry, yet a few more technological advancements in turbocharging technology can accelerate the scope for the same.
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Marine Turbochargers Market: Dynamics
The market for turbochargers is expected to grow at a healthy rate in the coming years. Significant rise in the demand for economical engines has facilitated to the higher implementation of turbochargers across the marine industry, thereby contributing to a larger global turbocharger market size, owing to the upsurge in demand for energy-efficient engines that can control air pollution. However, turbochargers are expensive as compared to their customary counterparts and are inclined to overheating issues. This can be considered as the major limitation for the growth of the marine turbochargers market. Regardless of these encounters, rising demand for economical engines in terms of fuel consumption and pollution rates is expected to sure the market significantly. The technological progressions related to this market are anticipated to provide huge impetus throughout the forecast period.
Marine Turbochargers Market: Regional Outlook
Marine turbochargers are expected to sell better in regions with the most maritime and the highest number of import and export trades. China, India, Japan, ASEAN countries and Australia & New Zealand in the APAC region are expected to see significant growth in the sales volume of marine turbochargers in the years to come. Other than these, the U.K., France, Spain and Italy in Eastern Europe are anticipated to see the same fate as the APAC countries. Saudi Arabia, South Africa and other parts of the Middle East & Africa witness a lot of sea trade and thus, are expected to make a significant impact on the market to increase the sales numbers of marine turbochargers. North America and South America also show a lot of scope for this market due to the increase in cargo and defense applications. Overall, the market is expected to portray good fortune for itself throughout the forecast period in the said regions.
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