By 2024, Marine Selective Catalytic Reduction System Market for commercial application to register a phenomenal CAGR of 2%|By Key vendors Johnson Matthey, Kwang Sung, Wärtsilä, Tenneco
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China Marine Selective Catalytic Reduction System Market is set to grow over 3% by 2024. Increasing cross border trade, mergers and tax inversions along with introduction of rigorous legislative requirements toward emission control will stimulate the industry growth. In July 2018, the Ministry of Transport in China published NOx control requirements particularly for second hand imported and Chinese diesel engine vessels.
Expansion of ECA zones on account of rising environmental concerns complemented by imposition of monetary penalties for regulation violating parties will positively influence the Marine Selective Catalytic Reduction System Market share. On the other hand, the surging adoption of clean fuel along with high installation cost of SCR systems may act as a restraint for the product demand.
Ongoing R&D activities coupled with technological advancements will expand the Marine Selective Catalytic Reduction System Market size. In addition, increasing ocean acidification along with the approval of low cost oil use with SCR systems in compliance with NOx norms will drive the business growth.
Asia Pacific Marine Selective Catalytic Reduction System Market will witness growth on account of increasing shipbuilding activities specifically across Japan, China and South Korea. Improvement in living standards owing to rising disposable income coupled with establishment of new ECA zones to limit maritime pollution will further strengthen the product installation.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Yara International
• Mitsubishi Heavy Industries
• Hyundai Heavy Industries
• Johnson Matthey
• Hitachi Zosen
• Kwang Sung
• MAN Energy Solutions
• Hug Engineering
• DCL International
• H+H Engineering &
• Danish Technology
• Ecospray Technolo
• DEC Marine
• ME production
• Agriemach Ltd
Marine Selective Catalytic Reduction System Market will exceed USD 5 Billion by 2024. Stringent government regulations owing to rising NOx emissions coupled with growing demand for sustainable systems will encourage the product demand. Rising concerns toward adverse environment and human health on account of increasing marine pollution will further complement the business landscape. The IMO under Annex VI introduced a norm that aims to limit nitrogen emission from diesel engines specifically with power output >130 kW. The directive is applicable on the vessels installed or built on & after 1st January 2016.
Browse Full Report: https://www.gminsights.com/industry-analysis/marine-selective-catalytic-reduction-systems-market
Eminent players across the Marine Selective Catalytic Reduction System Market comprises of YARA International, Hyundai, W?rtsil?, Kwang sung, Mitsubishi, PANASIA, Agriemach, Caterpillar, H+H Engineering, Johnson Matthey, MAN Energy, DCL International, Haldor Topsoe, Danish Technology, DEC Marine, ECOUREA, CORMETECH, Hitachi Zosen, Ecospray, Tenneco, ME Production, Niigata and Hug Engineering amongst others.
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