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Marine Emissions Control Systems Market Trends Report By Top Key Players: Yara Marine Technologies, Damen Marine Services, Johnson Matthey, Hitachi Zosen Inova, ANDRITZ, Tenneco, Fuji Electric Corp. of America, Wärtsilä, DuPont

11-14-2018 06:47 AM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Global Market Insights, Inc.

Global Market Insights, Inc.

Marine Emissions Control Systems Market trend will be driven by increasing seaborne trade accompanied by growing air pollution. According to UNESCO, ships account for over 15% of global Nitrogen Oxide (NOx) emissions and 8% of the global Sulphur Oxide (SOx) emissions annually. Expanding manufacturing and export base, notably led by Japan and China will further favor the business scenario.

Rising costs of compliances along with increasing legislative pressure on the shipping companies to meet new environmental regulations will stimulate the marine emissions control systems market. According to the recent OECD estimates, cleaner fuels will annually cost upto USD 30 billion to the container shipping industry. Rapid technological advancements to retrofit the existing fleet in compliance with key emissions standards will further fuel the industry growth.

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Marine Emissions Control Systems Market size will witness an appreciable growth on account of increasing stringency of international standards on sulfur emissions. The 2020 International Maritime Organization (IMO) regulation requires the use of marine fuels having a sulphur content limit of 0.5%S against the present limit of 3.5%S. Several R&D initiatives focused on green shipping, notably the Maritime Environmental and Technical Assistance (META) Program will further complement the business landscape.

Europe marine emissions control systems market will continue to grow on account of regulatory measures on ecosystem disruption and GHG emissions. For instance, in 2015 the European Union (EU) introduced the Regulation ([EU] 2015/757) on the monitoring, reporting, and verification of carbon emissions from maritime industry. Ongoing government funded ventures, most notably the UK Zero Emissions Sector initiative to minimize shipping emissions will further support the industry growth.

Key Players in Marine Emissions Control Systems Market:

1. Yara Marine Technologies
2. Damen Marine Services
3. Johnson Matthey
4. Hitachi Zosen Inova
6. Tenneco
7. Fuji Electric Corp. of America
8. Wärtsilä
9. DuPont

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Strengthening government norms on sustainable maritime transportation to combat the growing air pollution will drive the China marine emissions control systems market. According to the country’s legislative 13th Five-Year Plan, nitrogen and sulfur oxides emissions should be reduced by 20 and 65 percent respectively, relative to 2015, in its three designated coastal regions.

U.S. marine emissions control systems market is anticipated to witness a robust growth on account of stringent emissions and fuel quality requirements. The IMO has designated seawaters along Canadian and the U.S. shorelines as the North American Emission Control Areas (ECAs) for the sturdy reduction in NOx And SOx emissions.

Notable participants across the marine emissions control systems market include DEC Marine, Yara Marine Technologies, Damen Marine Services, Johnson Matthey, Hitachi Zosen Inova, Kwangsung, ANDRITZ, Tenneco, AEC Maritime, Fuji Electric Corp. of America, Wärtsilä, and DuPont.

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

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