Marine Selective Catalytic Reduction System Market size to exceed $5bn by 2024

Marine Selective Catalytic Reduction System Market size is set to surpass USD 5 billion by 2024, as reported in the latest study by Global Market Insights, Inc.
 

Increasing levels of nitrogen emissions from maritime industry along with growing concerns over its adverse effects on human health and environment will drive the marine Selective Catalytic Reduction (SCR) system market growth. The IMO introduced a norm under Regulation 13 with an aim to limit nitrogen emissions by engines with power output more than 130kW. The directive applies to the vessels installed and built from 1st January 2016. Rising concerns pertaining to NOx emissions coupled with stringent legislative norms is anticipated to encourage the product adoption.

 

Request Sample Buy NowInquiry Before Buying

 

China marine selective catalytic reduction system market size is predicted to expand over 3% by 2024. Increase in long international voyage coupled with rising inter-border trade, cross-border mergers, and tax inversions will encourage the product adoption. The China Ministry of Transport published new NOx control requirements on 3rd July 2018, that specifically imply to second hand imported & domestic diesel engine vessels.
 

Marine Selective Catalytic Reduction System Market

Get more details on this report by requesting a free sample copy
 

Growing regulatory pressure on ship manufacturers to meet environmental norms coupled with monetary penalties will stimulate the marine selective catalytic reduction system market growth. However, high installation cost and rise in clean fuel adoption may act as a constraint for the product demand.
 

Browse key industry insights spread across 446 pages with 657 market data tables & 22 figures & charts from the report, “Marine Selective Catalytic Reduction System Market Size By Application (Commercial {Containers, Tankers, Bulk Carriers, RO-RO}, Offshore {AHTS, PSV, FSV, MPSV}, Recreational {Cruise Ships, Ferries, Yachts}, Navy), ), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, Norway, France, Russia, Denmark, China, Japan, India, South Korea, Australia, Vietnam, Saudi Arabia, UAE, Iran, Angola, Egypt, South Africa, Brazil, Argentina, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/marine-selective-catalytic-reduction-systems-market
 

Increasing ocean acidification along with rising legislative pressure with an aim to limit NOx emissions will fuel the Europe marine selective catalytic reduction system market growth. Ongoing R&D investments pertaining to product design and ability to reduce the cost pressure will strengthen the business outlook. In addition, the need for the big ships to report its annual emission data along with other information post 2018 will propel the product installation.
 

Commercial marine selective catalytic reduction system market will grow over 2% by 2024. Growing standards with regard to system operation, inspection, and construction to maintain safe trade will stimulate the product adoption. Rising awareness to minimize maritime pollution coupled with ongoing R&D ventures with an aim to develop emission control technologies will positively impact the industry landscape.
 

Rising disposable income, demographic shifts, and improved standard of living leading to growth in investments toward tourism industry will drive the Asia Pacific marine SCR system market size. In addition, increase in shipbuilding activities, most notably in China, Japan and South Korea is anticipated to encourage the regional industry growth. Ongoing investments to limit pollution by marine industry through establishing new ECA zones will further boost the product adoption.
 

Key manufacturers active in the marine selective catalytic reduction system market comprise Tenneco, Wärtsilä, YARA International, Hyundai, Mitsubishi, Johnson Matthey, PANASIA, Hitachi Zosen, MAN Energy Solutions, Agriemach, Hug Engineering, DCL International, Caterpillar, ECOUREA, ME Production, and DEC Marine amongst others.
 

Marine selective catalytic reduction system market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2013 to 2024, for the following segments:

Marine Selective Catalytic Reduction System Market, By Application

  • Commercial
    • Container Vessels
    • Tankers
    • Bulk Carriers
    • Roll On/Roll Off
    • Others
  • Offshore
    • AHTS
    • PSV
    • FSV
    • MPSV
    • Others
  • Recreational
    • Cruise ships
    • Ferries
    • Yachts
    • Others
  • 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
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Vietnam
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Iran
    • Angola
    • Egypt
    • South Africa
  • Latin America
    • Brazil
    • Argentina
    • Mexico

We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info. I Agree