Marine Scrubber Systems Market Value Projected to Expand by 2018 to 2028

Posted by Arslan on July 9th, 2019

In order to dissert the market scenario prevailing across the marine scrubber systems market sector, FactMR has evenly presented a comprehensive marine scrubber systems market analysis to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the marine scrubber systems market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.

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Marine Scrubber Systems Market – Notable Highlights

• Frontline, a leading oil tanker fleet operator, confirmed signing of a MoA (memorandum of agreement) in 2018. This MoA was signed for acquiring nearly 20% of stake in a Singapore-based OEM, Feen Marine Scrubbers. This MoA was aimed at enhancing the production capacities of both the companies via combined expertise.
• Mitsubishi Hitachi Power Systems and Mitsubishi Heavy Industries, in 2017, made an official announcement of their joint effort in developing a rectangular marine scrubber of larger dimensions that separates sulfur oxide from the gases discharged by marine diesel engines

The marine scrubber systems market remains a highly competitive landscape, with international players holding a significant pie of the global market share. The top 5 manufacturing companies in the marine scrubber systems market collectively account for nearly 50-60% of the revenue share, driven by robust product portfolios and operational effectiveness. Over the past few years, the marine scrubber systems market has witnessed continual and significant developments by the leading players, which were specifically aimed at amplifying their market sustenance.

Wet technology remains the highly favored technology in the Marine Scrubber Systems market space over the forecast period. The buoyancy of wet marine scrubber systems can be accredited to their high-scale efficiency and provision of using available seawater during maritime journey, which helps in curbing noxious emissions and removing SOx. These characteristics, in turn, foster the popularity of wet technology as a viable proposition for use. Moreover, wet technology is a low cost and an effective technology, which is a key factor enhancing its visibility over other technologies.   

Marine Scrubber Systems Market- Demand for Marine Scrubber Systems for Retrofit Applications to Surge

The marine scrubber systems is foreseen to demand from both greenfield (installing marine scrubber systems on new ships) and brownfield (installing marine scrubber systems on pre-existing ships lacking efficient exhaust cleaning systems). However, the demand for marine scrubber systems in retrofit applications is likely to witness exponential growth, owing to federal interventions and amendments. For instance, the IMO Fuel Sulphur Regulation, which is impeding and is scheduled for January 2020, will ask the existing marine vessels to switch to either low sulphur-concentrated fuels or employ marine scrubber systems for cleaning the exhaust frameworks of SOx.

A substantial cohort of the ship owners have already favored the idea of marine vessels having marine scrubber systems in a bid to comply with the regulations post 2020 deadline. Strong initiatives like the aforementioned are likely to put marine vessels under the pressure to opt for effective exhaust cleansing systems, such as marine scrubber systems.

Marine Scrubber Systems Market- APEJ & Western Europe to Spearhead Demand for Marine Scrubber Systems 

APEJ continues to be highly lucrative with prime opportunities for manufacturers of marine scrubber systems, with Western Europe & North America following the suit. Key ASEAN countries such as South Korea, China, India, and others are foreseen to stay the forefront of demand for effective marine scrubber systems, notably from renowned merchants as well as commercial fleets across APEJ region.

Western Europe demonstrates wide-spread presence of leading commercial shipping lines, primarily across the Nordic nations, Greece & other parts, making it a remunerative region for manufacturing companies in the marine scrubber systems market to take into account. APEJ and Western Europe, collectively, are estimated to create an absolute $ opportunity exceeding US$ 6.4 Bn over the forecast timeline.