Marine Scrubber Systems Market size to exceed $10bn by 2026

Marine Scrubber Systems Market is expected to surpass USD 10 Billion by 2026, as reported in the latest study by Global Market Insights, Inc.
 

Marine Scrubber Systems industry size will grow owing to rising awareness toward environment sustainability coupled with introduction of stringent government directives to limit sulfur emissions. As per the IMO, ships are mandated to combat sulfur emissions both inside and outside SECAs. Stringency in the norms is anticipated to further drive the deployment of scrubbers that eliminates PMs in fuel by 70% & SO2 by 90%. In addition, increasing concerns relating to environment sustainability along with growing R&D projects focusing toward green shipping is set to complement the industry landscape. In January 2015, IMO announced the regulations to limit PM emissions and has decreased the sulfur release to 0.10% across the ECAs. Moreover, in 2016, the MEPC introduced a 0.5% global limit on sulfur fuel content that will be applicable on & after January 1, 2020.

 

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Cost efficiency and low energy consumption fueling the marine scrubber systems market growth

China Marine Scrubber Systems Market Outlook, By Wet Technology, 2019 (USD Million)
China Marine Scrubber Systems Market Outlook, By Wet Technology, 2019 (USD Million)

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Dry scrubbers will witness growth owing to strict IMO regulations pertaining to the rising marine emissions. Compliance with the norms & requirements of the sulfur directives coupled with efficient SOx reduction will strengthen the product installation. In addition, production of less waste materials compared to the available counterparts is anticipated to complement the business growth. This device is cost efficient and consumes less energy positively impacting the business growth. Ongoing improvement in the product features along with increasing research and development activities will propel the product penetration. Moreover, stringent regulations to limit sulfur emissions and the acceptance of inexpensive fuel with scrubbers to abide by sulfur norms will encourage the business outlook.
 

Browse key industry insights spread across 612 pages with 1,071 market data tables & 37 figures & charts from the report, “Marine Scrubber Systems Market Size By Technology (Wet Technology {Open Loop, Closed Loop, Hybrid}, Dry Technology), By Fuel (MDO, MGO, Hybrid), By Application (Commercial {Containers, Tankers, Bulk Carriers, RO-RO}, Offshore {AHTS, PSV, FSV, MPSV}, Recreational {Cruise Ships, Ferries, Yachts}, Navy), ), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026”in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/marine-scrubber-systems-market
 

Cost efficiency and easy availability of diesel driving the market demand

High SO content in heavy fuel coupled with strict regulatory norms to reduce PMs and sulfur emissions by ships is anticipated to drive the product adoption. Moreover, the allowance of low cost fuel with EGC systems will complement the business outlook. Cost efficiency, easy availability, and increased thermal & oxidation stability are few major characteristics stimulating the product installation. The demand for MDO is facing challenges due to stringent environmental regulations formulated by IMO and numerous governments to overcome the intrinsic downside of the existing emission levels. However, the allowance of MDO usage along with scrubber systems in the ship is positively impacting the product penetration. Intensifying government investments to toughen the national security along with the development of advanced shipping line will further boost the demand for these systems.
 

Increasing shipbuilding activities and stringency in government protocols set to drive North America market size

North America market will grow on account of stringent emission control norms along with ongoing innovations & investments to produce sustainable units. Implementation of the government protocols coupled with growing shipbuilding activities will strengthen the industry outlook. The introduction of IMO’s Annex VI in 2010 placed a sulfur cap of 1% within ECAs, which was further decreased to 0.1% in 2015. Caribbean Sea. In addition, in 2018, MEPC strategized to reduce the emissions from ships and reduce the pollution levels by 50% by 2050. Moreover, the U.S. government is extensively focusing on naval shipyard upgrades, fleet maintenance, and repair complementing the industry landscape.
 

Major players operating across marine scrubber systems market includes Kwangsung Co., Ltd, Alfa Laval, Damen Shipyards Group N.V., Hamon Research-Cottrell, Inc, CR Ocean Engineering, VDL AEC Maritime B.V, DuPont, Yara International, Clean Marine, Shanghai Bluesoul, Fuji Electric, Mitsubishi Heavy Industries, Wärtsilä, SAACKE, and Valmet amongst others. Rising M&A’s along with ongoing technical innovations are some major initiatives undertaken by prime market players to sustain a competitive edge over other participants.
 

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