Rapid Industrialization to Boost Marine Scrubber Systems Market Growth by 2028

Posted by Ajay Kumar on January 20th, 2020

Marine scrubber systems market is expected to continue its steady growth on account of their growing installation and retrofitting on marine engines exhaust systems and boilers on ships. This is attributed to the unique advantages of marine scrubber systems in alleviating harmful sulphur dioxide gas content (Sox) emissions. The worldwide marine scrubber systems market is anticipated to register 20.4% CAGR in terms of value between 2018 and 2028 owing to myriad factors mentioned in Fact.MR report on marine scrubber systems market.

In recent years, marine scrubber systems have gained much traction among ship owners and operators, on the back of their ability to treat exhaust gas released from engine or boiler by eliminating harmful sulphur dioxide gas content (SOx) and particulate matter (PM) sourced pollutants.

The detailed research report on the global Marine Scrubber Systems market focuses on the macro as well as microeconomic factors that are helping its development. The report also concentrates on the regulatory framework that is shaping the future of the global market. Furthermore, the research report also makes not of the existing as well as prevailing pricing structure, emerging areas of applications, and imminent investment opportunities in the global market. The report also offers an in-depth analysis of how the projected growth factors will shape the market dynamics in the coming years of the forecast period. Moreover, it also gives meaningful as well as actionable insights on the key trends that are developing the current market scenario and which will be lucrative for the future of the global Marine Scrubber Systems market.

According to Fact.MR report on marine scrubber systems market, ship operators and owners are increasingly adopting marine scrubber systems to comply with prevailing and impending regulations on sulphur quantity allowed in fuel, to be imposed by IMO (International Maritime Organization). Since 2015, there has been a decline in sulphur cap to .1% in some designated emission control areas (ECA), however, the cap is set to decline further with the implementation of .5% sulphur cap on maritime vehicles starting from 1^st January 2020.

Amid the growing sulphur related regulations, ship operators and owners are propelled to adopt either marine fuels containing low sulphur content, or retrofit or install marine scrubber systems for the treatment of toxic emissions caused by densely used fuel oil with high sulphur content. The report on marine scrubber systems market opines that extensive difference between the pricing of affordable fuel oil with high sulphur content and expensive fuel oils containing negligible sulphur content has been prompting ship operators and owners to retrofit marine scrubber systems on marine vehicles. A considerable number of ship owners are retrofitting their vessels with marine scrubber systems to comply with impending international regulations following the 2020 deadline, while using high sulphur fuel oil.

However, as per marine scrubber systems market report, the new-build application segment is also likely to witness comparatively fast growth as many fleet owners with new ship constructions on order are choosing to install marine scrubber systems on their vessels, which costs less as compared to retrofits that may be required later. According to the Fact.MR report on marine scrubber systems, retrofit segment is likely to create absolute $ opportunity valuing US$ 6.8 billion during the foreseeable period, on back of the boost gained by tight timelines ahead of impending regulations deadline.

As per Fact.MR report on marine scrubber systems market, in technology segment, the wet marine scrubber systems are likely to remain dominant in marine scrubber systems market by accounting for a healthy market share. The report estimates that it will account for over 90% share of the total absolute dollar opportunity in marine scrubber systems market by 2028-end. Ship operators and owners have been adopting open loop wet marine scrubber systems, however, as per the report marine scrubber systems market for the hybrid variants is also likely to witness comparatively healthy growth.

Get Full Access of Report - https://www.factmr.com/report/3055/marine-scrubber-systems-market 

The Fact.MR report on marine scrubber systems market envisaged that based on market value, the worldwide marine scrubber systems market is envisaged to value over US$ 11Bn during 2018-2028.