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Marine Scrubber Systems Market

Marine Scrubber Systems Market

Marine Scrubber Systems Market Forecast, Trend Analysis & Competition Tracking - Global Review 2018 - 2028

Marine Scrubber Systems Market
FACT3055MR

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.

Marine Scrubber Systems Market- Demand for Wet Technology Proliferates, Favourable Usage Characteristics Remain the Key Attraction

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.

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Marine Scrubber Systems Market- Additional Questions Answered

  • How has growth of marine scrubber systems market taken off over the past few years?
  • Which product type in the marine scrubber systems market continues to outperform other types over the forecast timespan?
  • What are the few significant macroeconomic factors having profound influences on growth of marine scrubber systems market?

An Adaptive Approach to Modern-day Research Needs

Segmentation

he report segments the marine scrubber systems market on the basis of technology, application, vessel type, fuel type, and region.

Based on technology, the marine scrubber systems market has been segmented into open loop system, closed loop system, and hybrid systems.

On the basis of application, the marine scrubber systems market has been segmented into new-build, and retrofit.

On the basis of vessel type, the marine scrubber systems market has been segmented into commercial vessels and offshore vessels.

Based on the fuel type, the marine scrubber systems market has been segmented into marine gas oil (MGO), marine diesel oil (MDO), residual fuel oil (RFO), and intermediate fuel oil (IFO). A market attractiveness analysis for each of the identified segments has been provided in the report.

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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

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