Industrial Turbocharger Market to grow by USD 1.07 billion during 2022-2027, Stringent emission regulations to drive the growth – Technavio
NEW YORK, Sept. 18, 2023 /PRNewswire/ — The industrial turbocharger market size is expected to grow by USD 1.07 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 4.66% during the forecast period. The market is segmented by End-user (Mining and construction equipment, Agriculture equipment, Oil and Gas Industry, Power Industry, and Marine Industry), Distribution Channel (OEM and Aftermarket), and Geography (APAC, North America, Europe, Middle East and Africa, and South America). Stringent emission regulations drive the industrial turbocharger market. Various cities worldwide are complying with stringent emissions regulations. These regulations are set by regulatory bodies for the protection of the environment human health and judicious usage of resources. Furthermore, industrial turbochargers redirect toxic gases via exhaust gas for further combustion, which improves energy efficiency and helps to reduce emissions. This helps end-users to comply with stringent regulations and will increase the adoption of industrial turbochargers. Hence, such factors drive the growth of the industrial turbocharger market during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a FREE PDF Sample
Key Higlights:
- The report recognizes the following as some of the key players in the industrial turbocharger market: ABB Ltd., BMTS Technology GmbH and Co. KG, BorgWarner Inc., Cardone Industries Inc., Caterpillar Inc., Comp Turbo Technology Inc., Continental AG, Cummins Inc., Eaton Corp. Plc, Hitachi Ltd., Honeywell International Inc., Keyyang Precision Co. LTD., Komatsu Ltd., Kompressorenbau Bannewitz GmbH, MAHLE GmbH, Mitsubishi Heavy Industries Ltd., Niitsu Turbo Industries M Sdn. Bhd., Wabtec Corp., IHI Corp., and Toyota Industries Corp.
- The Industrial Turbocharger Market is fragmented in nature.
- Market to observe 3.11% YOY growth in 2023.
Market Dynamics:
Trend
- The increase in the adoption of additive manufacturing is an emerging industrial turbocharger market trend.
Challenge
- The easy availability of counterfeit industrial turbochargers challenges the growth of the industrial turbocharger market.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
Keg Segments:
- The mining and construction equipment segment will be significant during the forecast period. This segment includes heavy-duty and powerful machines and equipment like excavators and cranes, backhoes, and heavy-duty demolition grapples that depend on industrial turbochargers to enhance engine power output ratio. Furthermore, factors such as rising investments in the construction industry, increasing industrialization, and urbanization rates will also propel the demand for industrial turbochargers. Hence, such factors boost the growth of the mining and construction equipment market during the forecast period. Get a glance at the market contribution of the segments, Request a FREE Sample
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FAQS
- How do the major trends impact the market?
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- How do the key drivers and challenges impact the market?
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Distribution Channel
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
