Marine Selective Catalytic Reduction Systems Market by latest Development & Trends
Marine Selective Catalytic Reduction Systems Market is likely to surpass the revenue mark of $5 billion by 2024. Stringent regulatory protocols to control harmful emissions and minimize marine pollution will spur market growth.
To address the intensifying problem of air pollution caused by marine vessels, the demand for sustainable systems has been on the rise. Alongside, research and development activities have witnessed a surge in the past few years, which will stand as a major growth promoter for this industry.
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Commercial fleet account for the majority of the overall marine pollution, which has led to the extensive deployment of SCR systems in such vessels. In addition, against the backdrop of expanding international trade, governments have been introducing various regulatory standards to regulate system operation, construction, and equipment inspection of commercial vessels, which will fuel market trends.
Marine selective catalytic reduction systems market forecast report estimates that marine selective catalytic reduction system market share from commercial applications is expected to witness gains at around 2% over the forecast period.
Rise in marine tourism and seaborne trade in the region has significantly raised the demand for marine vessels. Consequently, shipbuilding activities have witnessed a rise, especially in countries, including China, South Korea, and Japan, which will upsurge Asia Pacific marine selective catalytic reduction systems industry share. Additionally, establishment of new ECA zones for controlling maritime pollution will favor industry outlook.
China marine selective catalytic reduction systems industry is forecast grow at more than 3% by 2024. The growth can be attributed to the expanding mergers, tax inversions, and border trade. For instance, in July 2018, the Ministry of Transport in China issued requirements to control NOx, especially for second hand imported and Chinese diesel engine vessels.
The Prominent players include Hyundai, Wartsila, Johnson Matthey, YARA International, Kwang sung, PANASIA, Mitsubishi, Agriemach, H+H Engineering, and Caterpillar.
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Table of Content
Chapter 1. Methodology and Scope
1.1. Methodology
1.2. Market definitions
1.3. Market estimates and forecast parameters
1.4. Data Sources
1.4.1. Primary
1.4.2. Secondary
1.4.2.1. Paid Sources
1.4.2.2. Public Sources
1.5. Abbreviations
Chapter 2. Executive Summary
2.1. Marine selective catalytic reduction systems industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Application trends
2.1.3. Regional trends
Chapter 3. Marine Selective Catalytic Reduction Systems Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024 (USD Million)
3.3. Industry ecosystem analysis
3.3.1. Vendor Matrix
3.4. Innovation & sustainability
3.4.1. Tenneco
3.4.2. Wärtsilä
3.4.3. Hyundai Heavy Industries
3.4.4. MAN Energy Solutions
3.5. Regulatory landscape
3.5.1. IMO
3.5.1.1. MARPOL
3.5.1.1.1. NOx Emission Standards
3.5.2. U.S.
3.5.2.1.1. 1999 Marine Engine Rule
3.5.2.1.2. 2002 Recreational Engine Rule
3.5.2.1.3. 2003 Category 3 Engine Rule
3.5.2.1.4. Environment Control Areas
3.5.3. China
3.5.3.1. China, I/II Standards
3.5.4. Japan
3.5.5. Europe
3.5.5.1. Directive 2004/26/EC
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