Global Marine Selective Catalytic Reduction (SCR) Systems Market is speculated to garner significant growth through 2032, owing to the constant surge in shipbuilding activities prominently across emerging economies such as South Korea, China, and Japan. Moreover, the increasing seaborne trading business along with the stringent regulations around marine pollution is further expected to fuel the market growth.

Rising marine tourism, combined with a steady increase in boating activities across sea areas, will accelerate the deployment of SCR systems. The key industry players are concentrating on making significant investments, using competitive resources, as well as strategic mergers and alliances to improve the implementation of these systems.

For instance, in July 2021, Daewoo Shipbuilding & Marine Engineering ordered six B&W 11G95ME-GI Mk10.5 from MAN Energy Solutions for the construction of six ultra-large container vessels of 23,500+-teu for Hapag Llyod. The firm’s engines are combined with an SCR system that can run on LNG or other traditional fuels, while meeting the requirements of the Tier III emission regulation. As per reports, the latest order has improved the company’s standing within the sector.

The marine SCR market has been divided in terms of application and region.

Based on application, the navy segment was valued at more than USD 1.2 billion in 2022 with remunerative gains being expected during 2023-2032. The market expansion can be credited to the dynamic expansion of sea routes as well as the stringent regulations and guidelines to minimize the negative effects of offshore marine operations. Industry leaders are focusing on forming strategic agreements with competitive businesses to cement long-term alliances in the overseas industry.

For example, in September 2022, DAMEN Naval as well as Rolls-Royce’s Power Systems signed an agreement to supply DAMEN with mtu Series 4000 gensets for the German Navy’s advanced F126 frigates. Rolls-Royce’s scope for the F126 frigates includes both automation and power technologies. With this agreement, Rolls-Royce keeps up its long-standing partnership with the German Navy. Not to mention, the gensets also meet the requirements of IMO III emissions guidelines due to mtu selective catalytic reduction systems.

From the regional perspective, the Asia Pacific marine selective catalytic reduction systems market is poised to grow over 6% CAGR from 2023 to 2032. Moreover, continuous innovations, in tandem with favorable investments in the development of new solutions, is set to foster the regional outlook. Moreover, growing shipbuilding activities, notably in Japan, South Korea, and China, is expected to have a favorable impact on product implementation across the APAC region.