Press release
Oil Discharge Monitoring Equipment Market To Offer Increased Growth Prospects For Manufacturers : Fact.MR
As per comprehensive industry analysis by Fact.MR, a market research and competitive intelligence provider, the global oil discharge monitoring equipment market is estimated to exceed a valuation of US$ 212 Mn in 2022, and expand at a steady CAGR of 4.8% by value over the assessment period of 2022-2032.Oil discharge monitoring equipment is used to monitor the oil content that is released when seawater is discharged from a tanker to clean it after unloading the cargo. The main purpose of such systems is to regulate the discharge of slop tank oil to prevent pollution in the ocean due to oil.
Growing import and export activities are likely to surge the number of ships across the world. This will elevate overall demand for oil discharge monitoring equipment from shipbuilding and maintenance companies. Moreover, all active ships and vessels are kept under scheduled maintenance compliances within the span of 6 months to 1 year, creating high potential opportunity for oil discharge monitoring equipment adoption.
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Key Segments of ODME Industry Research
By Vessel Type:
Oil & Chemical Tankers
Bulk Carriers
General Cargo
Container Ships
Gas Carriers
Offshore Vessels
Passenger Ships and Other Vessels
.
By Operation:
Automatic Oil Discharge Monitoring Equipment
Manual Oil Discharge Monitoring Equipment
By Distribution:
OEMs
MRO Service Providers (Aftermarket)
By Region:
North America ODME Market
Latin America ODME Market
Europe ODME Market
East Asia ODME Market
South Asia & Oceania ODME Market
Middle East & Africa ODME Market
Competition Landscape
Bestobell AquaTronix, Brannstroms (S) Pte Ltd, China Deyuan Marine Fitting Co.,ltd, Donjun, Fuente International Co., Ltd., HSN-KIKAI Kogyo, Indostan Corporation, Insatech A/S, JOWA, KSB Group, OTS Group Ltd, Rivertrace Ltd, Shanghai Rongde, and Technova HT, VAF Instruments are some of the major players in the oil discharge monitoring equipment market.
Existence of stringent regulations with regards to emissions in the marine industry has driven the focus of manufacturers and end users towards efficient products. In the present scenario, oil discharge monitoring equipment manufacturers are significantly focused on product innovation and the development of novel technologies to meet regulatory requirements, at the same time fulfilling demand from end users.
Leading providers of oil discharge monitoring equipment, such as Alang Hub, KSB Group, and Bestobell AquaTronix, are consistently spending on research to come up with new product innovations.
Fact.MR has provided detailed information about the price points of the top manufacturers and distributors of oil discharge monitoring equipment positioned across regions, in addition to providing sales growth information, production capacity, and speculative production expansion, in the recently published report.
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Key Takeaways from Market Study
By vessel type, bulk carriers are expected to remain the most attractive vertical and surpass a valuation of US$ 143 Mn by the end of 2032.
Automatic oil discharge monitoring equipment is projected to account for the highest valuation of US$ 334 Mn.
On the basis of distribution, original equipment manufacturing is likely to grow 1.7X by value and create revenue worth US$ 243 Mn by 2032.
East Asia is anticipated to be the most attractive regional market due to the presence of large ship manufacturing industries.
The North America market is set to reach the mark US$ 60 Mn by the end of 2032.
Utilization of oil discharge monitoring equipment in oil & chemical tankers is projected to surge 1.6X over the forecast period.
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Winning Strategy
Leading manufacturers are providing OEM services for oil discharge monitoring equipment. Strategic entrance into aftermarket services is likely to improve profit margins and provide ample of opportunities for manufacturers.
The offering of aftermarket services by manufacturers is predicted to establish long-term relationships with customers, and reduce maintenance costs, and raise demand in the near future.
Source - https://www.factmr.com/report/3684/oil-discharge-monitoring-equipment-market
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