The global maritime sector is facing a critical challenge of responding to stringent regulations for emissions reduction, improving vessel efficiency, and protection of aquatic ecosystem. The International Maritime Organization (IMO) has been driving the adoption and implementation of sustainability strategies with targets for 2020, 2030 and 2050. Sulphur emissions reduction in 2020 and Ballast Water Management enforcement in 2018 are some of the recent sustainability requirements that were brought into force by IMO, driving the technology adoption by maritime stakeholders to meet such requirements.
With stringent emission reduction and efficiency improvement targets in place till 2050, there will be increased need for developing technologies that will aid the maritime sector for achieving improved sustainability. Frost & Sullivan identifies emission control, fuel switching, digitization and waste management as the key growth opportunities enabling emissions reduction and improved efficiency in maritime sector.