Global Industrial Machinery Turbocharger Market Size, Share, and Trends Analysis Report, By Type (Mono Turbo, Twin Turbo, Electric Turbo, and Others), By Application (Textile Industry, Agricultural Industry, Automotive Industry, Oil & Gas Industry, and Others), and By Sales Channel (Original Equipment Manufacturer (OEM) and Aftermarket), Forecast (2022-2028)

The global industrial machinery turbocharger market is anticipated to grow at a considerable CAGR 6% during the forecast period (2022-2028). The turbocharger also known as “Turbo” is a turbine-driven component of the engine that provides an enhancement in internal combustion by increasing the supply of air in the engine. The major factor attributing to the growth of the global industrial machinery turbocharger market includes the increasing application of turbochargers in industrial machinery of the oil & gas industry due to the increasing number of off-shore oil & gas field discoveries across the globe. According to the Energy Information Administration (EIA), around 23 oil & gas fields were discovered across the globe in 2020. Among these, China and Brazil are the leading countries with the discovery of 3 new oil & gas fields followed by Egypt, Norway, the US, and Mexico with each having 2 oil & gas field discoveries in 2020. As per EIA, 15 were oil fields and 8 were gas field discoveries. Thus, increasing the application of turbochargers in the machinery of the oil & gas industry.

The application of turbochargers is also increasing in industrial machinery of several other industries including the textile industry, agricultural industry, automotive industry, and other industries due to various benefits associated with turbochargers. These benefits include a significant increase in horsepower, allowing small engines to deliver more power, enhancement in fuel economy, and increased efficiency of engines, among others. Thus, contributing to the growth of the global industrial machinery turbocharger market.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instances-

• In June 2021, MAN Energy Solutions signed a strategic partnership agreement with Rolls-Royce. Under this agreement, PBST, a subsidiary of MAN will distribute turbochargers developed by MTU, a power systems subsidiary of Rolls-Royce.
• In June 2019, ABB Turbocharging launched a new turbocharger called “A200-H”. A200-H is a single-stage high-performance turbocharger for gas engines and a cost-effective solution for the 22-24 BMEP range.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
  • By Sales Channel
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Honeywell Imternational Inc., BrogWarner Inc., Continental AG, BMTS Technology GmbH & Co. KG, and Cummins Inc., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Industrial Machinery Turbocharger  Market Report by Segment

By Type

• Mono Turbo
• Twin Turbo
• Electric Turbo
• Others

By Application

• Textile Industry
• Agricultural Industry
• Automotive Industry
• Oil & Gas Industry
• Others

By Sales Channel

• OEM
• Aftermarket