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Why Marine Turbocharger Market are Booming So Rapidly? Industry in-Depth Analysis with Growing Trends | ABB, MAN Diesel & Turbo, Napier Turbochargers Ltd., Cummins Inc., BorgWarner Turbo Systems, IHI Corporation, Mitsubishi Heavy Industries Marine Machine
Turbocharger in a ship's engine is a crucial component, as it reuses the exhaust gases in order to increase the overall efficiency of the engine. Continuously advancing propulsion technologies along with strict laws pertaining to carbon emissions imposed by regulatory bodies will increase product penetration.
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Increasing efforts towards optimization of turbochargers for achieving high performance and maximum operational flexibility will provide a positive outlook to the product development. Global marine turbocharger market size is forecast to reach over USD 780 million by 2026.
Meanwhile, several advancements in propulsion technologies would possibly drive the market share in the forthcoming years through product advancements. One such advancement, the CFD (Computational Fluid Dynamics) technique is used in turbine blades and compressor wheels to examine the secondary and primary flow structure across impeller blades.
Likewise, use of advanced tools such as ANSYS and FEA techniques results in adaptable development processes. Due to this flexibility, turbochargers can be modified at later stages. In the projected timeframe, techniques like CFD, ANSYS and FEA are likely to positively influence the turbocharger market.
Additionally, technological advancements have also innovated marine turbocharger diversification. Products can now be designed specific to different industry demands. Advanced marine turbochargers provide improved efficiency and higher pressure ratios which reduces their environmental impact. With these benefits product adoption is likely to witness a sizable shift in coming years.
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Increasing adoption of electrically assisted turbochargers to lower fuel consumption at high speed and to maintain speed variations during low load conditions, is likely to supplement marine turbocharger market share.
Today, service providers play a crucial role in the upgradation and modernization of existing systems. These efforts are focusing on optimizing operational flexibility and reliability. With these efforts the marine turbocharger market is set to chalk out a lucrative outlook for industry expansion.
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