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Dec 25, 2023

Emission Control Catalyst for Marine Market to Display Impressive Growth of 5.3% with Rising Demand

The emission control catalyst for marine market is expected to grow at a

The emission control catalyst for marine market is expected to grow at a significant compound annual growth rate of 5.3% during the forecast period, with a projected value of US$ 998.19 million in 2023 and a rise to US$ 1,673.01 million by 2033.

Maritime emission control catalysts are designed to minimize harmful emissions from marine engines and equipment such as ships, boats, and yachts by converting toxic pollutants in engine exhaust into less dangerous molecules.

The International Maritime Organization (IMO) has established rigorous emissions requirements for ships and other marine vessels, increasing demand for emission control catalysts.

Diesel oxidation catalysts (DOCs), selective catalytic reduction (SCR) systems, and diesel particulate filters (DPFs) are among the pollution control catalysts available for maritime applications, and which system to choose is determined by criteria such as engine type, operating conditions, and specific emissions standards.

The rising demand for fuel efficiency is another major driver of the emission control catalysts industry, with a need to cut fuel use. Large marine vessels often require a lot of fuel, and catalytic converters can assist in improving fuel economy by turning hazardous pollutants into less damaging molecules.

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Increased commercial vessel sales are likely to drive sales of diesel-based emission catalysts, which account for 86.6% of the market in 2023, while gasoline-based emission catalysts are expected to capture 14.4% of the market share.

Commercial vessels, including container ships, bulk carriers, tankers, and other commercial boats, are a significant area in the marine industry's emission control catalyst market.

Japan is a prominent player in the maritime industry's pollution control catalyst market, with a considerable market share (10.9%), and is expected to continue to play a leading role in the development and deployment of innovative emission control technologies in the coming years.

The United States is likely to capture 7.9% of the market share in 2023 due to the presence of several big technologies as well as the rapidly developing marine shipping and transportation industry in the region

Competitive Landscape.

To develop new prospects, key companies in marine catalysts intend to upgrade their existing production facilities as well as extend their manufacturing capacities. Companies are also working on collaborations and partnerships with other manufacturers in order to harness new products and technologies in order to boost profitability and geographical presence.

The market's leading players are mostly concerned with the technical aspects of the business.

Key Companies Profiled

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Key Segments Covered in the Emission Control Catalyst for Marine Market Report

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