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Marine Emission Control Systems Market Size By Technology (SCR, Scrubber Systems {Wet Technology [Open Loop Technology, Closed Loop Technology, Hybrid Technology], Dry Technology}), ESP), By Fuel (MDO, MGO, Hybrid), Application, & Forecast, 2023 - 2032
- Report ID: GMI2542
- Published Date: Feb 2023
- Report Format: PDF
Industry Statistics
Marine Emission Control Systems Market size valued at USD 11 billion in 2022 and is projected to expand at more than 8.5% CAGR from 2023 to 2032.
Growing concerns associated with large volumes of carbon and greenhouse gas emissions from maritime activities will foster demand for marine emission control systems. As per the International Energy Agency (IEA), international shipping accounted for approximately 2% of the global energy-related carbon emissions in 2021. Over the last decade, the popularity of cruise travel and cargo shipping has increased dramatically driven by a robust global trade. Hence, several government organizations worldwide have implemented ambitious initiatives for the reduction of environmental impact. For instance, the United Nation’s International Maritime Organization (IMO) aims to cut down ocean-vessel emissions to 50% by 2050.
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Rising use of low-carbon fuels may impede product demand
The paradigm shift towards clean fuel alternatives and zero-emission energy systems for maritime applications could restrain the marine emission control systems market outlook to some extent. Moreover, the high installation costs associated with marine emission control systems along with the increasing intervention of several government for the adoption of low-carbon fuels may also obstruct business growth. For instance, according to IEA, by 2030, low-carbon fuels will account for 15% of the global energy demand in the Net Zero Scenario. However, the surging number of seaborne trade activities and favorable replacement and retrofitting services for marine vessels will fuel the adoption of novel emission control technologies, adding a positive edge to the business progression.
| Report Coverage | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | 11.18 (USD Billion) |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 8.5% |
| 2032 Value Projection: | 27.01 (USD Billion) |
| Historical Data for: | 2019 to 2022 |
| No. of Pages: | 450 |
| Tables, Charts & Figures: | 791 |
| Growth Drivers: | |
| Pitfalls & Challenges: |
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Increasing consumption of MGO across marine applications
Marine emission control systems market revenue from the MGO fuel segment is estimated to reach around USD 4 billion by 2032. The surging demand for MGO (marine gas oil) can be attributed to its high compatibility with diesel engines, enhanced efficiency across marine engines, and easy availability. Additionally, several governments worldwide have introduced strict norms, thus driving the inclination of marine operators toward the installation of emission control systems. Furthermore, extensive innovation and developments in the field of biofuel production to provide sustainable fuel for marine applications will spur industry progression.
Surging adoption of SCR systems to curb nitrogen oxide-based marine emissions to anchor industry growth
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Marine emission control systems market valuation from SCR technology segment is poised to surpass USD 10 billion by 2032. The rising adoption of SCR (selective catalytic reduction) systems can be attributed to the deployment of stringent norms and mandates to reduce nitrogen oxide emissions in the marine ecosystem. This technology provides an advanced approach to active emissions control as it reduces the tailpipe emissions of nitrogen oxides to near-zero levels in modern diesel-powered vehicles. Furthermore, the ongoing advancements in marine engines are also fostering the demand for suitable emission control systems.
Rising offshore infrastructure developments to boost demand for marine emission control systems
Marine emission control systems market from offshore applications is slated to exhibit over 8% gains between 2023 and 2032. The increasing number of offshore infrastructure development activities and government-backed energy projects have propelled the adoption of emission control systems. In addition, the surge in favorable private-public initiatives enabling the integration of emission control systems in next-generation engines will positively influence the business outlook. For instance, in March 2022, the Canadian Government announced a funding of USD 56 million for emission reduction and boosting research and development in the offshore sector.
Rising maritime transportation to drive product demand across the APAC region
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Asia Pacific marine emission control systems market is anticipated to register nearly 7% growth rate through 2032. The region is expected to emerge as a major hotspot for marine emission control technologies with increasing cargo shipping and marine trade across countries such as China, Japan, and India. For instance, as per data by Invest India, maritime transport is responsible for 70% of India’s trading in terms of value. As of 2021, India holds a 30% share of the global shipbreaking sector on account of the presence of the world’s largest ship-breaking facility. The growing maritime transportation and shipping activities have encouraged several governments in APAC to consider strict emission control norms, thus promoting the need for emission control systems.
New collaborations to augment industry development
Some of the leading companies in the global marine emission control systems market include HYUNDAI HEAVY INDUSTRIES CO., LTD., IHI Corporation, Tenneco Inc., Ecospec, NovelTech Pte Ltd, ME Production, ALFA LAVAL, HAMON, CR Ocean Engineering, and DuPont. These firms are implementing strategic collaborations and partnerships for expanding their business footprint and customer reach. For instance, in September 2022, Hug Engineering entered an agreement with Scania to distribute its IMO Tier III emission control technologies across Scania’s large marine engines with an output capacity of 640kW.
Impact of the COVID-19 pandemic on the industry trends
The COVID-19 pandemic had a moderate impact on the marine emission control systems market with significant losses in the space of maritime trade and activities. The pandemic slowed the movement of passengers, cruise ships, and cargo containers impelled by massive supply chain disruptions and persistent lockdown restrictions, which negatively influenced the demand for emission control systems. However, the rate of marine emissions grew at a robust pace during the wake of the pandemic owing to the rise in transportation of dry bulk, container ships, and general cargo vessels, favoring the adoption of marine emission control systems. For instance, according to UNCTAD’s Review of Maritime Transport 2022, the total carbon emissions caused by maritime fleets surged by 4.7%, necessitating investments in cutting-edge technologies to curb GHG emissions.
Marine emission control systems market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2019 to 2032, for the following segments:
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Market Insights, By Technology
- SCR
- Scrubber Systems
- ESP
- Others
Market Insights, By Fuel
- MDO
- MGO
- Hybrid
- Others
Market Insights, By Application
- Commercial
- Offshore
- Recreational
- Navy
- Others
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Italy
- Norway
- France
- Russia
- Denmark
- Netherlands
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Vietnam
- Indonesia
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Angola
- Latin America
- Brazil
- Argentina
- Mexico