The global industrial turbocharger market is expected to grow by USD 1.22 billion, according to Technavio. This marks a significant market slowdown due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 4%.
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The industrial turbocharger market is driven by stringent emission regulations. In addition, the increase in the adoption of additive manufacturing is anticipated to boost the growth of the industrial turbocharger market.
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Major Five Industrial Turbocharger Companies:
- ABB Ltd.
- BorgWarner Inc.
- Caterpillar Inc.
- Cummins Inc.
- Honeywell International Inc.
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Industrial Turbocharger Market End-user Outlook (Revenue, USD bn, 2020-2025)
- Mining and construction equipment - size and forecast 2020-2025
- Agriculture equipment - size and forecast 2020-2025
- Oil and gas industry - size and forecast 2020-2025
- Power industry - size and forecast 2020-2025
- Marine industry - size and forecast 2020-2025
Industrial Turbocharger Market Geography Outlook (Revenue, USD bn, 2020-2025)
- APAC - size and forecast 2020-2025
- North America - size and forecast 2020-2025
- Europe - size and forecast 2020-2025
- MEA - size and forecast 2020-2025
- South America - size and forecast 2020-2025
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SOURCE Technavio
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