Selbyville, DE -- (SBWIRE) -- 02/01/2019 -- The global marine emission control systems market is set to experience substantial growth in the ensuing years owing to rising environmental concerns across the globe over marine pollution and the growing demand for marine scrubbers.

Marine Emission Control Systems Market is predicted to surpass USD 5 Billion by 2024. Stringent government norms coupled with rising emission levels from maritime industry will positively impact the industry landscape. The International Maritime Organization has amended a regulation to limit nitrogen oxide emissions by diesel vessels, built/installed on and after 1st January 2016. It has further revised the global sulfur limit in the fuel to 0.5%, applicable from 1st January 2020. In addition, on 1st July 2010, stringent norms under MARPOL 73/78 were introduced that has led to a rise in the deployment of ESPs.

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Key industry manufacturers in the marine emission control systems market comprises of Yara, Kwang sung, Mitsubishi, Hyundai Heavy Industries, W?rtsil?, Caterpillar, MAN Energy Solutions, Hug Engineering, DCL International, Agriemach, Johnson Matthey, Hitachi Zosen, Tenneco, DEC Marine, Alfa Laval, H+H Engineering, Langh Tech, DuPont, and Fuji Electric.

Rising health and environment concern along with stringent government mandates inside and outside ECAs will complement the product installation. Growing shipbuilding industry, healthy orderbook and restructuring of old engines with an aim to adopt sustainable solutions are some of the major factors projected to propel the product penetration. Further, imposition of monetary penalties by PSAs in the instance of noncompliance to the mandates will drive the marine emission control systems market growth.

The U.S. market is anticipated to witness growth on account of strict emission control directives along with ongoing investments and technical advancements to manufacture green systems. Implementation of government protocols coupled with rising shipbuilding activities owing to growing demand for battle forces & commercial vessels will boost the marine emission control systems market growth. Further, in 2018, MEPC strategized to reduce the marine pollution and limit the emission levels by 50% by 2050.

Hybrid marine emission control systems market is set to grow on account of strict government regulations coupled with advancements in emission control technology. High sulfur content in the fuel along with urgency to limit nitrogen oxide, PMs and sulfur emissions by maritime industry will encourage the product adoption. In addition, growing merchandise trade and rising demand for container vessels & bulk carriers will encourage the product deployment.

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Oceans play a significant role in balancing the global ecosystem, therefore maintaining a healthy marine environment is of pivotal importance for several countries. International shipping accounts for less than 3% of the world's greenhouse gases (GHG) which is estimated to grow in the coming years, if left unmanaged. Several countries in Europe and Pacific Island have formed the High Ambition Coalition and are implementing aggressive emission measures that align with the global temperature limits imposed by the Paris climate accord. With surging pressure from regulatory authorities, shipowners and shipping companies will have no choice but to opt for low emission solutions, which will boost product demand and escalate marine emission control systems market growth.

Another factor that's expected to boost market growth is the growing demand for marine scrubbers. Apparently, the International Maritime Organization accepts exhaust gas scrubbers as a possible resolution to sulfur emission and considers it compatible with MARPOL Annex VI.
Recreational applications will grow on grounds of rising disposable income and increase in demand for comfort & luxury. Ongoing research activities coupled with rapid technology innovations with an aim to reduce the cost pressure is set to encourage the system installation. Long international voyage along with increase in standards toward system operation, inspection, and construction will boost the marine emission control systems market demand.

Complete report for 2018-2024 on Marine Emission Control Systems market is now available at https://www.marketstudyreport.com/reports/marine-emission-control-systems-market

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