Marine Scrubber Systems Market Key Trends in Terms of Volume and Value 2018-2028
Posted by Preet on February 12th, 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 business intelligence study of the marine scrubber systems market covers the estimation size of the market both in terms of value (Mn/Bn USD) and volume (x units). In a bid to recognize the growth prospects in the marine scrubber systems market, the market study has been geographically fragmented into important regions that are progressing faster than the overall market. Each segment of the marine scrubber systems market has been individually analyzed on the basis of pricing, distribution, and demand prospect for the following regions:
The key players in the global marine scrubber systems market report consist of
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 1st 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.
Each market player encompassed in the marine scrubber systems market study is assessed according to its market share, production footprint, current launches, agreements, ongoing R&D projects, and business tactics. In addition, the marine scrubber systems market study scrutinizes the strengths, weaknesses, opportunities and threats (SWOT) analysis.
On the basis of vessel type, the global marine scrubber systems market report covers the footprint, and consumption of the segments including
The global marine scrubber systems market covers the demand trends of fuel type which includes
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About the AuthorPreet
Joined: July 11th, 2019
Articles Posted: 812
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