LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global industrial turbocharger market since 2016 and the market is poised to grow by USD 1.34 billion during 2019-2023, progressing at a CAGR of over 4% during the forecast period. Request Free Sample Pages
Read the 122-page research report with TOC on "Industrial Turbocharger Market Analysis Report by End-User (mining and construction equipment; agricultural equipment; oil and gas industry; power industry; and marine industry), by Geography (APAC, the Americas, and EMEA), and Segment Forecasts, 2019 - 2023".
The market is driven by the rising farm mechanization across the globe. In addition, the advent of hybrid turbochargers for marine engines is anticipated to further boost the growth of the industrial turbocharger market.
The rising farm mechanization across the globe will be one of the major drivers in the global industrial turbocharger market. Farm mechanization reduces the dependence on manual labor and helps to improve the overall productivity in agricultural operations. Furthermore, increasing government support to encourage agricultural mechanization in various developed and emerging economies will further boost the adoption of industrial turbochargers in farming equipment such as tractors, harvesters, threshing machines, and trucks incorporates turbochargers.
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Major Five Industrial Turbocharger Market Companies:
ABB
ABB owns and operates businesses under various segments such as Electrification Products, Robotics and Motion, Industrial Automation, and Power Grids. The company offers a wide range of industrial turbochargers. Some of the products offered by the company are Turbocharger for low-speed engines including A200-L, A100-L, TPL-B, and VTR, Turbocharger for medium-speed engines including A100-M, Power2, TPL-A, TPL-C, TPS-D/E, TPS-F, and VTC, and Turbocharger for high-speed engines including A100-H, TPS-D/E, and TPS-F.
Cummins
Cummins operates its business under four segments, which include Engine, Distribution, Components, and Power systems. The company’s key offerings include Holset turbocharger. The Holset brand of Turbochargers is synonymous with turbocharger and airflow management excellence, based on advanced engineering and precision manufacturing.
Komatsu
Komatsu has business operations under various segments, namely Industrial Machinery and Others; Retail Finance; Construction, Mining, and Utility Equipment. The products offered by the company is Industrial turbocharger. It features the technology for variable controls of air-flow and volume and supplies air optimally according to load conditions. This system achieves both purification of exhaust gas and fuel economy by means of high-efficiency combustion.
MITSUBISHI HEAVY INDUSTRIES
MITSUBISHI HEAVY INDUSTRIES operates its business under three segments, which include Power systems; Industry and infrastructure; Aircraft, defense, and space. The company’s key offerings include MET Turbochargers, Hybrid Turbochargers, Variable Turbine Inlet (VTI) Turbochargers, Integral EGB Turbochargers.
Toyota Industries
Toyota Industries operates its business under the following segments: Material Handling Equipment, Automobile, and Textile Machinery. The company’s key offering in the industrial turbocharger market include TIA Variable Geometry Turbocharger. It is used in industrial diesel engines with a displacement of 1.5 to 4.0 liters.
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Industrial Turbocharger End-User Outlook (Revenue, USD Million, 2019 - 2023)
- Mining and construction equipment
- Agricultural equipment
- Oil and gas industry
- Power industry
- Marine industry
Industrial Turbocharger Regional Outlook (Revenue, USD Million, 2019 - 2023)
- APAC
- EMEA
- Americas
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