Ship Exhaust Energy Recovery Systems Market Trends & Future Scope to 2023

29^th March 2019 - Global ship exhaust energy recovery systems market is expected to grow considerably in the coming years due to the current and upcoming strict emission regulations. Ship exhaust energy recovery systems recover thermal energy from exhaust gas and convert into electrical energy. During this conversion, the residual heat is used for other ship services, such as steam and hot water. These systems comprise exhaust gas boilers, power turbine, and a steam turbine with an alternator.

The market is majorly driven by factors like introduction of strict emission regulations and increasing fuel economy policies by government. However, rising trend towards electric propulsion techniques in light-duty vehicles is hampering the ship exhaust energy recovery system market.

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Increasing use of exhaust heat for supporting applications like oil cooling and HVAC is a growth opportunity for the market. Moreover, speedy adoption of turbocharger and EGR in gasoline automobile is another trend in the market. Synchronization of emission standards, reduced cost effectiveness, commercialization, and low efficiency of upcoming technologies like ORC and TEG is challenging the market.

Ship exhaust energy recovery system market is categorized based on type, technology, application, and region. Based on type, market is divided into 500KW, 1500KW, 8000KW, and others. By technology, market is bifurcated into combustion air preheat systems, complete closed loop systems, and high particulate systems. Combustion air preheat systems lead the market since they improve the energy potential for these engines combustion.

In terms of application, ship exhaust energy recovery systems market is divided into turbocharger, steam turbine generator, fresh water generator, shaft generator, and economizer. Turbocharger is a supercharging equipment that offers extra fresh air to engine cylinder while combustion. Steam turbine generation is applied to the boilers and economisers on all the ships. Fresh water generator is used for the generation of drinking water from the sea water. Shaft generators are linked to the main switch board’s bus bars for supplying power to ship. Economizers are used to generate steam from the fresh water with the help of exhaust heat energy. Hence, according to the requirements, different machineries are equally used.

Regionally, the market is segmented as North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America, followed by Europe are expected to lead the market in the forthcoming years due to increasing use by the marine sector. Moreover, Asia Pacific and Middle East and Africa regions also account for a major share of the market owing to increased utilization of ship exhaust energy recovery systems.

The leading players in ship exhaust energy recovery systems market include Vericor Power Systems, MAN Diesel & Turbo, GE, OPRA Turbines BV, Rolls Royce, Solar Turbines, PW Power Systems, Perm, Pratt & Whitney, Niigata Power Systems, Zorya, Thermax Global, Sigma Thermal, The Maersk Group, Bosch Industriekessel GmbH, Siemens AG, Dresser-Rand-Ingersoll, Ecogen Power Systems, Borsig GmbH, Cain Industries, and Ci-Tech Energy Recovery Systems.

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