Marine Selective Catalytic Reduction Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Marine Selective Catalytic Reduction Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : July, 2020 | Energy & Mining | PPT format

Report Digest


Marine Selective Catalytic Reduction Systems Market - Snapshot

The global marine selective catalytic reduction systems market is poised for substantial growth over the period of forecast. Much of the growth of the market is ascribed to the rising levels of emissions of nitrogen from the shipping industry and growing concern over the ill effects of such emissions on human body and the environment at large.  Such factors are likely to drive the growth of the global marine selective catalytic reduction systems market in years to come.

Oxides of nitrogen (NOx) harms the environment and human being in the following ways

  • NOx mainly affects respiratory system and causes inflammation of the airways.
  • Apart from human beings, high concentration of NOx can leave negative impact on the vegetation with reduced growth and leaf damage.

Stringent regulations due to growing concern over NOx emissions are expected to encourage product adoption. Ship manufacturers are faced with the increasing pressure to meet the norms together with the fear of monetary penalties being imposed for breaking rules. Such factors are likely to encourage the growth of the global marine selective catalytic reduction systems market over forecast period.

Rise in ocean acidification is leading to increasing legislative pressure to restrict NOx emissions is anticipated to stimulate the growth of the marine selective catalytic reduction system market growth in regions like Europe. In addition, continuous research and development activities related to product design and to lessen cost is expected to create positive outlook about the product.

On the flip side, increased preference for clean fuel and high cost of installation is expected to pose threat to the growth of the global marine selective catalytic reduction systems market.

Global Marine Selective Catalytic Reduction Systems Market: Overview

Selective Catalytic Reduction (SCR) is a propelled dynamic discharges control innovation system that infuses a fluid reductant operator through an exceptional impetus into the fumes stream of a diesel motor. The reductant source is generally car review urea, also called Diesel Exhaust Fluid (DEF). The DEF sets off a synthetic response that proselytes nitrogen oxides into nitrogen, water and little measures of carbon dioxide (CO2), common segments of the air we inhale, or, in other words through the vehicle tailpipe.

Through the universal work carried out by International Maritime Organization Marine Environment Protection Committee, the requirement for enhanced selective catalytic reduction systems for marine applications at low and transient temperatures has been recognized. It is of significance to enhance the low-temperature action to accomplish consistence with the up and coming stricter International Maritime Organization NOX direction for boats. SCR systems are nitrogen decrease advancements conveyed over motors and boilers to curtail the nitrogen outflows. Developing interest for green advances alongside government activities toward the improvement of these systems by the vessel producers will emphatically affect the business development.

This report provides in-depth analysis of the marine selective catalytic reduction systems market, focusing on the market opportunities and possible restraints, along with the latest trends driving the market. The report segments the global marine selective catalytic reduction systems market based on its application and geography.

Global Marine Selective Catalytic Reduction Systems Market: Trends & Opportunities

The surge in levels of nitrogen emanations from marine industry alongside developing concerns over its ecologically disturbing consequences for human wellbeing will drive the marine Selective Catalytic Reduction (SCR) system market development.

The IMO presented a standard under Regulation 13 with a plan to constrain nitrogen discharges by motors with power yield more than 130kW. The order applies to the vessels introduced and worked from first January 2016. Rising concerns relating to NOx outflows. Continuous R&D ventures relating to product design and capacity to diminish the cost weight will reinforce the market growth in the coming years.

Global Marine Selective Catalytic Reduction Systems Market: Market Potential

Increment in long universal voyage combined with rising of overseas exchanges, cross-fringe mergers, and expense reversals will empower the demand in the global marine selective catalytic reduction market. Recently, China Ministry of Transport distributed new NOx control prerequisites that particularly suggest to second-hand imported and household diesel motor vessels.

Global Marine Selective Catalytic Reduction Systems Market: Regional Outlook

The U.S. marine selective catalytic reduction systems market will is expected to witness substantial growth by virtue of high clean fuel cost incorporating LNG alongside continuous technical innovations to fabricate feasible units.

Improved way of life, and rising disposable incomes prompting development in ventures toward tourism industry will drive the Asia Pacific marine SCR systems market. Moreover, increment in shipbuilding exercises, most quite in China, Japan and South Korea is foreseen to empower the local business development. Progressing ventures to restrain contamination by marine industry through building up new ECA zones will additionally help the item appropriation.

Global Marine Selective Catalytic Reduction Systems Market: Competitive Landscape

Some of the leading vendors operating in the global marine selective catalytic reduction systems market are Agriemach, Hyundai, Hitachi Zosen, Hug Engineering, Mitsubishi, PANASIA, and Wärtsilä.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.