Future Market Insights has announced the addition of the “Turbo Compounding Systems Market: Global Industry Analysis and Opportunity Assessment 2016-2026" report to their offering.
Valley Cottage, NY -- (SBWIRE) -- 08/02/2016 -- Global turbo compounding systems are used to increase the efficiency of the engines. These systems use a turbine to harness energy from exhaust gas in order to pump air into the engine so as to increase power output in diesel and gas engines. Turbo compounding systems thus help increase power output, improve fuel economy and reduce emissions. Power turbine can be linked with crankshaft by either mechanical or electrical methods. In electrical turbo compounding (ETC) systems, the turbine is connected to a generator where the mechanical energy is converted into electrical energy that can be stored in batteries and used to increase the engine's output through a motor or power ancillaries. ETC systems can be further classified as serial turbo compounding, parallel turbo compounding, and electric assisted turbo compounding systems. Turbo compounding systems are used in motorsport racing engines, heavy vehicle engines, aircraft engines, and gen sets (stationary generator sets). The gen sets are relatively novel application for such systems. Use of fossil fuels for power generation, especially in developing economies, is expected to continue for decades. The global need to reduce CO2 will propel the use of ETC systems in gen sets to provide cleaner and energy efficient solutions. The F1 racing engines are currently using these systems to help power the advanced energy recovery systems. The adoption of turbo compounding system technology in this application is increasing with the technology innovation in electric turbo compounding technology. The electric turbo compounding is estimated to enter into passenger cars and commercial vehicles in future. Hybrid autos are anticipated to easily adopt the technologies as they are equipped with battery and battery traction engine to store the recovered energy from the exhaust waste.
Global Turbo compounding Systems Market Dynamics
The global turbo compounding systems market is expected to be driven by implementation of stringent regulations pertaining to emissions and fuel economy for vehicles in order to reduce CO2 emissions across the globe. Turbo compounding systems help achieve improved efficiency, reduced emissions and an optimum power output. Thus, increasing efforts on the part of automotive companies towards improving efficiency of engines without having to compromise on their power output is another factor that is expected to drive the adoption and growth of global turbo compounding systems market over the forecast period. The increasing electricity demand is also a one of the prominent factors driving global turbo compounding systems market growth.
The turbo compounding systems technology is in its nascent phase and is not extensively commercialized yet. Its use, as of now, is limited to heavy vehicles and motorsport engines. Wide-scale commercialization of turbo compounding systems involves certain technological limitations such as heat recovery and packaging constraints associated with these systems. Besides, the higher cost associated with these systems is another restraining factor for global turbo compounding systems market
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Global Turbo compounding Systems Market Segmentation
The global turbo compounding market is segmented on the basis of product type and application. On the basis of product type, the global turbo compounding system market is segmented as
Mechanical turbo compounding systems
Electrical turbo compounding systems
The electric turbo compounding systems have inherent technological benefits over mechanical turbo compounding systems.
On the other hand, based on application, the global turbo compounding systems market is segmented in to following key market segments
Motorsport/ racing engines
Heavy vehicles engine
Global Turbo compounding Systems Market: Regional Outlook
Geographically, the Global turbo compounding systems market can be divided by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. North America and Europe accounted for a major share in the global turbo compounding market due to the technological adoption rate in these regions. The turbo compounding market in Asia-Pacific is projected to grow with fastest rate in near future. The application of these systems in power generation as gen sets is anticipated to drive the market growth in this region.
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Global Turbo Compounding Systems Market Players
Some of the major players operating in global turbo compounding systems market include Bowman Power Group, Voith Turbo GmbH & Co KG, Mitec Automotive AG, and others. The companies are channelizing efforts towards research & development so as to make the system more economic. Manufacturers such as John Deere and Caterpillar are currently having turbo compounding systems under development phase.