Marine Emission Control Systems Market Expected to Secure Notable Revenue Share during 2018-2028
Stringent Regulatory Standards Fuel Marine Emission Control System Adoption
MARPOL convention Annex VI is the main international treaty which addresses air pollution prevention requirement from ships. The requirements cover both engine-based and fuel-based standards. The directive was launched in 2008 for controlling emissions from diesel engine vessels. Tier III regulation on NOx emission was introduced from January 2016. A global sulfur limit was also issued under the directive that states 0.5% sulfur limit from January 2020 to all marine fuels- commonly known as the global sulfur cap.
Owing to these stringent regulations, the shipping industry is under pressure to reduce the environmental footprint of ships. To comply with NOx emission standards, manufacturers have introduced developments in exhaust gas recirculation (EGR) and selective catalytic reduction (SCR) systems. For SOx emission reduction developments are being introduced in scrubbers.
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Marine Emission Control System Manufacturers Introduce Smart Emission Control Solutions
Current marketplace for the marine emission control system is facing challenges of greenhouse exhaust emissions. Emission regulations cover both passenger and cargo vessels, as their exhaust emissions have caused significant damage to the ecosystem in the past. As the regulatory standards have become stringent, manufacturers are engaged in finding ways to introduce greener ships to ensure market sustenance in the future.
For instance, in June 2018, Wärtsilä, a prominent player in the marine emission control system market has introduced a new emission reduction system that reduces cargo losses by up to 80%. The new system allows oil tankers to return potentially harmful volatile organic compound emissions to the cargo tank.
In June 2018, Alfa Laval, another leader in the marine emission control system market has introduced PureSOx scrubbers for exhaust gas cleaning applications. The new introduction meets SOx limits posed by Emission Control Areas (ECAs) and the 2020 global sulphur cap.
Few of the prominent players in the marine emission control system market include Alfa Laval, Wärtsilä, Yara, Shanghai Bluesoul, Clean Marine, DuPont, Niigata Power System, DEC Maritime, Mitsubishi, Johnson Matthey, H+H Engineering Fuji Electric, Kwangsung, Damen Shipyards, Tenneco and Ecospray Technologies.
Trade Growth to Complement Marine Emission Control System Market Growth
According to the World Trade Organization (WTO), global trade is expected to witness a steady growth in the coming years. WTO estimates that world merchandise trade volume will grow 4.4% in 2018 with GDP growth of 3.2% at market exchange rates. The estimated trade expansion can be attributed to strong economic growth across global regions and governments’ initiatives to improve in trade policies.
With the increasing trade activities, the shipping industry is under pressure to meet the stringent emission standards and deliver operational improvements. Growing reliance on the seaborne trade is likely to augur well for the shipping companies, thereby fuelling the growth of the marine emission control system market.
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Marine Emission Control System Market Segmentation
The marine emission control system market is segmented based on technology, based on fuel and based on application.
Based on technology, the marine emission control system market is segmented as:
Based on fuel, the marine emission control system market is segmented as:
Based on application, the marine emission control system market is segmented as:
Marine emission control system market research report offers detailed analysis of the market as well as consists of thoughtful facts and insights along with historical data, which holds market data that is industry-evaluated and statistically backed up. The report comprises of projections that are generated with the help of suitable methodologies and a set of hypotheses. In addition, the research report delivers information and study based on market classifications such as industry, end-use and region.
Extensive Analysis of Marine Emission Control System Market Research Report Covers:
Segmentation of marine emission control system market
Dynamics of marine emission control system market
Global market sizing
Demand and sale
Modern trends and challenges
Competitors and related competition
Geographical Data Analysis Of Marine Emission Control System Market Research Report Is Based On:
North America marine emission control system market
Latin America marine emission control system market
Europe marine emission control system market
Asia Pacific marine emission control system market
Japan marine emission control system market
Middle East and Africa marine emission control system market
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Marine emission control system market research report has been incorporated with first-hand information along with comprehensive analysis based on quality and quantity with the help of industry analysts. Inputs from participants and experts in the industry has also been integrated in the global report. Governing, micro and macro-economic aspects relating to parent market has been identified in the global report. Market attractiveness based on regions and segments along with qualitative impacts has also been included in the marine emission control system market research report.
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