Off-Highway Turbochargers Market is Forecasted to Reach USD 3.2 Billion in 2030, Says Stratview Research

The global Off-Highway Turbochargers Market is projected to witness a growth rate of 2.8% annually from 2024 to 2030, with an anticipated size of USD 3.2 billion in 2030, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Off-Highway Turbochargers Market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report: https://www.stratviewresearch.com/Request-Sample/3535/off-highway-turbocharger-market.html#form

Report Highlights: `
Market Size in 2030: USD 3.2 billion
Growth (CAGR): 2.8% during 2024-2030
Forecast Period: 2024-2030
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 6
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Off-Highway Turbochargers Market:
The global Off-Highway Turbochargers Market is segmented
by end-use industry type, mode of operation type, technology type, engine type, sales type and region

Based on end-use industry type: Turbochargers are used in a wide array of marine vessels such as bulk carriers, container ships, recreational boats, military vehicles, and cruise ships. Marine is expected to remain dominant whereas rail is anticipated to be the fastest-growing end-use industry during the forecast period.
Increasing demand for large commercial ships owing to a rise in international trade. The average useful life of a turbocharger is 20-30 years, usually, they are highly customized.
Within the marine segment, commercial ships captured the largest chunk. Low- & medium-speed engines are highly preferred in commercial ships.
For rail, turbocharging can provide up to 400% more power than a naturally aspirated engine of a similar size, enabling manufacturers to use smaller engines without an impact on performance.

Based on mode of operation type: The market is segmented into radial turbochargers and axial turbochargers. Radial turbochargers are expected to remain the dominant and faster-growing mode of operation during the forecast period.
Radial turbochargers are more used in the 0.5-6,000 KW range, for both auxiliary as well as main medium-speed engines.
Radial turbochargers are generally simpler and cheaper to manufacture and maintain and are particularly beneficial in applications where rapid start-up is important, due to their compact size and robust blades.
Key players are the Accelleron (ABB), Mitsubishi Heavy Industries, MAN Energy Solutions, etc.
The usage of axial turbochargers is expected to grow in two-stroke engines with the increase in the penetration of low- & medium-speed engines.

Based on technology type: The market is segmented into single turbo, twin-turbo, electro-assist turbo, and variable geometry turbo. Single turbo maintained an unequivocal lead in the market from 2018-2023 and is expected to continue dominating the market during the forecast period as well. A single turbo takes up much less space than a twin-turbo and cools better. The single turbo itself, as well as its installation, is more cost-efficient. As opposed to twin-turbo, it produces a maximum boost at higher RPM (revolutions per minute). A single turbo is preferably used in powerboats and cruise applications.
Two-stroke engines are more often used for low-speed engines, especially in marine applications. Electric assist turbo is mainly used in low-speed engines, and it helps in reducing emissions and noise coming from engines.
Based on engine type: The market is segmented into low- & medium-speed engines and high-speed engines. Low- & medium-speed engines maintained an unequivocal lead in the market from 2018-2023 and are expected to continue dominating the market during the forecast period as well.
Low & medium-speed engines are the major market category in marine, whereas high-speed engines are preferred in the energy category.
Low-speed engine is preferred in commercial ships, especially merchant ships with single engine sizes of 8-80 MW. The medium-speed engine is preferred for coastal and inland vessels, offshore vessels, ferries, and cruise ships (2-20 MW single engine size).

To know the most attractive segments, click here for a free sample of the report: https://www.stratviewresearch.com/Request-Sample/3535/off-highway-turbocharger-market.html#form

Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is expected to remain the largest market for off-highway turbochargers during the forecast period. This growth outlook is majorly attributed to the following-
Asia-Pacific to hold its unassailable lead by 2030.
• Increasing presence of all major turbocharger manufacturers for both products and services.
• Huge commercial shipbuilding in three countries (China, South Korea, and Japan).
• Asia-Pacific is expected to maintain a 50% share of global primary energy demand and a 60% share of global carbon emissions by 2050.
• Key players in the region are Mitsubishi Heavy Industries, BorgWarner Turbo Systems, Cummins Inc., Acelleron (ABB), and MAN Energy Solutions.

Off-Highway Turbochargers Market Drivers:
The growth of the Off-Highway Turbochargers Market is driven by several factors.
• The energy industry has been shifting to the renewables trend for the past few years, and the rising electrification trend is creating a demand for turbochargers for grid balancing from internal combustion engines (ICE). Unremitting demand from new data centers that require turbochargers for emergency power is likely to give a thrust to market growth.

Top 10 Companies in the Off-Highway Turbochargers Market:
Stratview Research has identified the following companies as the top market players:
• Accelleron (ABB LTD.)
• Mitsubishi Heavy Industries Engine & Turbocharger, Ltd.
• Cummins Inc.
• MAN Energy Solutions SE
• MTU Friedrichshafen GmbH
• Wabtech Corporation
• Kompressorenbau Bannewitz GmbH
• BorgWarner Turbo Systems GmbH

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Off-Highway Turbochargers Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Turbocharger Market: https://www.stratviewresearch.com/138/turbocharger-market.html
• Marine Turbochargers Market: https://www.stratviewresearch.com/1373/marine-turbocharger-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
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This release was published on openPR.