Rising Adoption of Marine Scrubber Systems Market to Fuel Revenue Growth Through 2028

Market Report Summary

Market - Marine Scrubber Systems Market
Market Value - US$ 11.1 Bn From 2020-2030
Market CAGR Value - 20% Between 2020-2030
Market Forecast Year - 2020 to 2030
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According to Persistence Market Research, the global marine scrubber systems market is expected to register a CAGR of over 20% between 2020 and 2030. The basic objective of marine scrubber systems is that of treating engines' exhaust stream with either fresh water or sea water through hydrated granules (lime-treated), so that the exhaust stream of SOx could be cleansed and non-toxic exhaust in line with emission regulation norms could be released in open environment either on land or later or in the sea.

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The IMO (International Maritime Organization) states that ships need to reduce SOx outside as well as inside SECAAs (Sulfur Emission Control Areas). Also, norms have been introduced by MARPOL with the objective of preventing pollution in the sea by toxic constituents. This stringency is expected to witness EGC (Exhaust Gas Cleaning) technology being installed, thereby driving the marine scrubber systems market from 2020 to 2030.

The marine scrubber systems are reported to eliminate SO2 by 90% and particulate matters by 70%. The business outlook is expected to be complemented further by awareness regarding health hazards caused by SO2 emission. In 2016, the Marine Environment Protection Committee (MEPC) did pass an order limiting sulphur fuel content to 0.5%. It came into effect from Jan 1, 2020.

Something More about Marine Scrubber Systems Market to Look into

The marine scrubber systems market is witnessing growth in demand for MGO (Marine Gas Oil) due to the ability of emitting sulphur in lower concentrations. This fuel is penetrating across various locations like the Caribbean Sea, the North Sea, the North American Waters, and the Baltic Sea. This has expanded the industry landscape further. The SECAs are increasingly adopting the oil.

Moreover, the commercial applications hold a significant market share. They are inclusive of bulk carriers, tankers, roll off/roll on ships, and container vessels. Plus, retrofit existing vessels are creating ripples. However, they being costlier than their counterparts could limit their usage, still, retrofit vessels will find their way as 2020 regulations need to be adhered to.

Coming to technology, wet technology is expected to rule the marine scrubber systems market. Furthermore, closed loop, open loop, hybrid technologies, out of which open loop technology is the most preferred one.

Region-wise Analysis

Till the year 2019, it was the Asia-Pacific and Western Europe hold the largest share (more than 50%) of marine scrubber systems market. North America will also catch up, with ECA rules being put into practice for the Caribbean seas and North America Waters. The South East Asia will also experience an upswing with China and South Korea poised to be strong markets.

Competitive Landscape

The key players in the marine scrubber systems market include Mitsubishi Heavy Industries, Ltd., CR Ocean Engineering, LLC, Feen Marine Scrubbers Inc., VDL AEC Maritime, Valmet Corporation, Fuji Electric Co. Ltd., Yara International, Clean Marine, SAACKE, Damen Shipyards Group N.V., Alfa Laval, and Kwangsung Co.

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This release was published on openPR.