Acumen research and consulting, estimates that the global marine emission control systems market is anticipated to reach market size of around US$ 20,000 Mn by 2027 and is anticipated to grow at a CAGR of around 12% in terms of revenue during the forecast period 2020 – 2027. Marine emission control systems provide technical equipment which reduces emissions from ships, improves fuel efficiency and allows the use of cleaner fuels. The technology used in maritime pollution control systems are designed to meet environmental requirements and improve ship economic and operating efficiency. Owing to strict pollution regulations that accelerate product advancements in the marine pollution system industry, the marine emission control systems market is expected to proceed on a stepping-up path.
Growing maritime emissions, advanced emission control technologies, increased environmental and safety issues, marine scrubber systems and tighter public legislation are some of the key drivers of the global business development of marine emission control systems. The fast development of a world market for marine emission control systems is attributed to rising maritime emissions and to tight government regulation. Economic sanctions are projected to fuel the growth of the global marine emission control systems industry for failure to comply with the regulations. The development of maritime pollution control systems is expected to accelerate the progress in emission control technologies. Reformation of the old ships to create successful systems along with a healthy infrastructure and growth in the construction industry are some of the factors which boost world market development.
Furthermore, global government aims to reduce environmental harm through the establishment of a regulatory system to promote the use of different technologies to manage emissions. This will, in effect, offer key players in the industrial emissions control system industry a range of growth opportunities over the next few years. In addition, new power plants have equipment installed to last 10 to 15 years and, due to the replacement of older equipment, the electricity generation sector has become the main industry. The demand for industrial pollution control systems is expected to expand dramatically in the coming years.
Marine Emission Control System Manufacturers Introduce Smart Emission Control Solutions
The marketplace currently faces challenges in terms of greenhouse emissions from the marine emission management system. All passenger and cargo ships are protected by pollution laws but in the past their exhaust emissions caused major eco-power harm. With the stringency of regulatory requirements, producers are searching at options to carry greener ships and guarantee a potential supply to the market. Wärtsilä, for example, a leading leader in the industry of maritime pollution management, launched in June 2018 a new emission mitigation program, reducing cargo losses by up to 80 percent. The new program allows petrol tankers to return to the freight tank possible toxic organic volatile pollutants. In June 2018, PureSOx scrubbers have been launched by Alpa Laval, another leader on the market in maritime pollution control system. The latest project fulfills the SOx constraints of the national Sulfur Capitals for 2020. Featuring Alfa Laval, Wärtsilä, Yara, Shanghai Bluesoul, Clean Marine, DuPont, Niigata Power System, DEC Maritime, Mitsubishi, Johnson Matshey, H+H Technology, Fuji Electric, Kwangsung, Herren Shipyards, Tenneco, and Ecospray Technologies were some of the most popular companies.
Asia-Pacific is the largest contributor to North America 's revenues. Globalization has also led to many factories, including India and China, emigrating to low-cost countries from developed nations. In turn, government investment and economic planning programs in the Asia-Pacific regions are projected to drive a cement industry. In the Asia-Pacific regions on the other hand, the construction of coal-fired power plants has gained momentum due to the lack of renewable energy infrastructures built. In addition to China and India, countries such as Indonesia and Thailand could increase demand in Asia-Pacific as electricity is increasing.
Major players included in this report are Wartsila, Yara, Alfa Laval, Shanghai Bluesoul, DuPont, Niigata Power System, Clean Marine, DEC Maritime, Johnson Matthey, Mitsubishi, Kwangsung, Damen Shipyards, Tenneco, Ecospray Technologies, and others.
The global marine emission control systems market is segmented as below:
Marine Emission Control Systems Market By Type
Exhaust Gas Recirculation (EGR) Systems
Selective Catalytic Reduction (SCR) Systems
Marine Emission Control Systems Market By Application
Marine Emission Control Systems Market By Geography
Middle East & Africa
The market value of marine emission control systems is anticipated to be around US$ 20,000 Mn in 2027.
It is anticipated to grow around 12% CAGR amid the forecast period 2020-2027
North America held maximum share in 2019.
Asia Pacificis projected to grow at a fast pace during forecast period from 2020-2027.
Stringent government regulations toward emissions are expected to drive the growth of the marine emission control systems market.
Availability of alternate fuel is a major factor expected to restraint the growth of the market.
Wartsila, Yara, Alfa Laval, Shanghai Bluesoul, DuPont, Niigata Power System, Clean Marine, DEC Maritime, Johnson Matthey, Mitsubishi, Kwangsung, Damen Shipyards, Tenneco, Ecospray Technologies, and others are the prominent players in the marine emission control systems market.