Ship Exhaust Energy Recovery Systems Market Trends, Future Scope & Competitive Analysis With Key Players 2023
“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.�
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. 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. Browse Full Research Report @ https://www.millioninsights.com/industry-reports/ship-exhaust-energy-recovery-system-market