March 19, 2020

Shipboard Incineration Market: Future Forecast Assessed On The Basis Of How The Market Is Predicted To Grow 2027

Shipboard Incineration Market Introduction

  • During the operation of a ship, waste material such as oily rags, waste oil from oily water separator, and galley waste is generated; shipboard incineration is used to incinerate or burn waste material or products such as sludge waste generated on board. Additionally, a ship with hospital facilities use shipboard incineration for medical waste.
  • Shipboard incineration are pressure vessels used for processing parts and waste materials which require exposure to high temperature and pressure. Shipboard incineration are mainly available in round and cylindrical shapes.
  • Shipboard incineration fundamentally undertakes two main functions – sterilization of waste material and generating steam. The maintenance cost of shipboard incineration is minimal.
  • The global shipboard incineration market is expected to expand at a rapid pace during the forecast period due to their increasing demand from passenger ships and tankers.

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Key Drivers of the Shipboard Incineration Market

  • Shipboard incineration is more reliable than other sterilizing equipment, which is expected to fuel their demand in the near future.
  • Increasingly stringent government regulations regarding proper disposal of sludge waste generated on board is resulting in enhanced demand for shipboard incineration. This is anticipated to propel the shipboard incineration market.
  • Additionally, the strict MARPOL Annex 5 regulation, which stipulates that no garbage is to be thrown into the sea is resulting in increased demand for shipboard incineration.
  • Further, raising slandered of MARPOL makes shipboard incineration necessary on a ship, thus augmenting the market growth.
  • Rapid growth of marine industry is anticipated to fuel the demand for shipboard incineration.
  • Huge quantity of oily rags are generated in the engine room of a ship and they have the potential threat of catching fire; demand for shipboard incineration is thus increasing globally to avoid these types of threats.
  • Increase in the import and export of medical devices mandating the installation of shipboard incineration in ships, cargo, etc. is projected to boost the demand for shipboard incineration globally.

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North America to Hold Major Share of the Global Shipboard Incineration Market

  • In terms of region, the global shipboard incineration market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
  • North America dominated the global shipboard incineration market in 2019, accounting for a significant share due to the presence of well-established manufacturers of shipboard incineration in the region, particularly in the U.S. The U.S. is a key market in North America due to the presence of advanced technology providers who generate demand for shipboard incineration in the country.
  • Asia Pacific is likely to witness significantly high demand for shipboard incineration from 2019 to 2027. Major developing countries such as China and India are expected to drive the market in the region. This is primarily because China is the top exporting country around the world.

Shipboard Incineration Market- Competitive Landscape

Key Players Operating in the Global Shipboard Incineration Market

Several local, regional, and international players operate in the shipboard incineration market. Hence, the market is consolidated and the bargaining power of suppliers is high. Market players are increasing research and development activities in the shipboard incineration market. Manufacturers of shipboard incineration adopt the vital strategy of new product development with advanced technology to cater to the needs of different end-users. Key players operating in the global shipboard incineration market include:

  • Fuente International
  • ACS, Inc.
  • TeamTec AS
  • China Deyuan Marine Fitting Co., Ltd.
  • INCINER8 Limited
  • ECOservice-NEFTEGAZ
  • Alfa Laval

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