Wilmington, Delaware, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Global Emission Control Catalyst for Marine Market is valued at US$ 878.3 million in 2022 and is expected to grow at a significant CAGR of 6.3% during the assessment period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
Several factors have influenced the demand for emission control catalysts in the maritime industry. Environmental restrictions and emission standards enforced by international organizations and local governments have been a primary driving force in the marine market for emission control catalysts. Regulations such as the International Maritime Organization's (IMO) MARPOL Annex VI regulate ship emissions of sulphur oxides (SOx), nitrogen oxides (NOx), and particulate matter (PM), pushing the industry to implement emission control devices.
Furthermore, increased knowledge and emphasis on sustainability have resulted in a variety of efforts targeted at lowering the environmental impact of shipping. For example, the International Maritime Organization (IMO) has established targets for reducing greenhouse gas emissions from international shipping. These programs promote the use of emission control catalysts and other technology in order to meet emission reduction targets.
- According to a deep-dive market assessment by RationalStat, the global emission control catalyst for marine market has been analyzed on the basis of market segments, including on type, application and geography/regions (incl. North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global emission control catalyst for marine market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units/Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global emission control catalyst for marine market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Emission Control Catalyst for Marine Market: Segmental and Market Share Analysis
- On the basis of application, Sales of diesel-based emission catalysts are projected to be driven by commercial vessel sales. Commercial vessels play an essential role in the marine market's emission control catalyst.
- On the basis of region, Japan is a major player in the marine pollution control catalyst market. Japan is home to several large manufacturers of catalysts and other pollution control techniques.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 878.3 million |
| Market Size Forecast | US$ 1,432.6 million |
| Growth Rate | 6.3% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global emission control catalyst for marine market include,
- In 2021, BASF expanded its production capacity of mobile emission catalysts in Chennai, India. The strategic expansion is aimed towards increasing the capacity for heavy-duty on and off-road segment automotive.
Some of the prominent players and suppliers operating and contributing significantly to the global emission control catalyst for marine market growth include BASF SE, Johnson Matthey, Heraeus Holding, Haldor Topsoe, NGK Insulators, Alfa Laval, Tenneco Inc., Nett Technologies Inc., Cataler Corporation, Catalytic Combustion Corporation among others.
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RationalStat has segmented the global emission control catalyst for marine market based on type, application and region
- Global Emission Control Catalyst for Marine Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Type
- Diesel Based Emission Catalyst
- Diesel Oxidation Catalyst (DOC)
- Selective Catalytic Reduction Catalyst (SCR)
- Catalyzed Soot Filter/Diesel Particulate Filter
- Ammonia Oxidation Catalyst (AMX)
- NOx Absorbers
- Others
- Global Emission Control Catalyst for Marine Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Application
- Commercial Vessel
- Offshore Support Vessel
- Power Boat
- Fishing Boat
- Others
- Global Emission Control Catalyst for Marine Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Region
-
- North America Emission Control Catalyst for Marine Market
- US
- Canada
- Latin America Emission Control Catalyst for Marine Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Emission Control Catalyst for Marine Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Emission Control Catalyst for Marine Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Emission Control Catalyst for Marine Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Emission Control Catalyst for Marine Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Emission Control Catalyst for Marine Market
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Key Questions Answered in the Emission Control Catalyst for Marine Report:
- What will be the market value of the global emission control catalyst for marine market by 2030?
- What is the market size of the global emission control catalyst for marine market?
- What are the market drivers of the global emission control catalyst for marine market?
- What are the key trends in the global emission control catalyst for marine market?
- Which is the leading region in the global emission control catalyst for marine market?
- What are the major companies operating in the global emission control catalyst for marine market?
- What are the market shares by key segments in the global emission control catalyst for marine market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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