ID: MRFR/E&P/8599-HCR | 111 Pages | Published By Chitranshi Jaiswal on March 2023
Marine Scrubber Market share is projected to reach USD 12,035 Million by 2030 at 10.1% CAGR between 2022 and 2030.
$12,035 Million
10.1%
Europe
2022-2030
Marine Scrubber Market size is projected to reach USD 12,035 Million by 2030 at 10.1% CAGR between 2022 and 2030.
Marine scrubbers function as exhaust gas cleaning systems (EGCS), which are used to remove harmful components like nitrogen oxides (NOx) and sulfur oxide (SOx) from the emissions emitted due to combustion processes in marine engines. It is primarily done to safeguard the environment and reduce air pollution. These systems are deployed for treating exhaust from engines, auxiliary engines, and boilers to ensure that no damage is done to human life and the environment due to any toxic chemicals. The marine scrubber systems are in demand from 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 as there is a rise in federal interventions and amendments.
For instance, the IMO Fuel Sulphur Regulation, which is impeding and scheduled for January 2020, will ask the existing marine vessels to switch to either low sulfur-concentrated fuels or employ marine scrubber systems to clean the exhaust frameworks SOx.
The top 5 marine scrubber systems market manufacturing companies 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, aimed explicitly at amplifying their market sustenance.
The major factors driving the growth of the global marine scrubber market is the rising demand for sustainable methods to control sulfur emissions from ships. Moreover, stringent regulations imposed by the government to address pollution arising due to emission will also boost the market growth during the forecast period. For instance, the International Maritime Organization (IMO) has been engaged in a strategy since 2018 to reduce greenhouse gas emissions from ships. This strategy specifically focused on CO2 emissions reduction consistent with the Paris Agreement temperature goals. Similar standards and regulations will promote the global marine scrubber market during the forecast period. However, the high cost of revamping a scrubber can restrict the growth of the global marine scrubber market.
Many major players such as CR Ocean Engineering (US), DuPont (US), Yara International ASA (Norway), Fuji Electric Co., Ltd (Japan), and Mitsubishi Heavy Industries, Ltd (Japan) are actively focusing on signing contracts and agreements with various marine companies. For instance, in February 2019, CR Ocean Engineering entered into a contract with a US-based shipping company to retrofit marine scrubbers in 35 vessels. This contract has helped the company to strengthen its footprint in the North American market and also has helped the company to adhere to the sulfur equivalency requirement in European and North America Emission Control Areas (ECAs). Such developments in the market are expected to drive the growth of the global marine scrubber market during the forecast period.
The global marine scrubber market has been segmented based on technology, fuel, and application. Based on technology, the global market is divided into wet technology and dry technology. The dry technology segment is expected to hold the largest share of the market and grow at the fastest rate during the forecast period owing to its various advantages, including a reduction in NOx emissions substantially and no production of liquid effluent. All these factors would result in a higher share of the dry technology segment.
Global Marine Scrubber Market is expected to register 10.1% CAGR during the forecast period.
Kwangsung Co., Ltd. (Mexico), Alfa Laval (Sweden), Hamon Research-Cottrell, Inc. (Belgium), CR Ocean Engineering (US), Damen Shipyards Group N.V. (Netherlands), VDL AEC Maritime B.V. (Netherlands), Langh Tech Oy Ab (Finland), Ecospray Technologies S.r.l. (Italy), DuPont (US), Yara International ASA (Norway), Clean Marine AS (Norway), Shanghai Bluesoul Environmental Technology Co., Ltd. (China), Fuji Electric Co., Ltd. (Japan), Mitsubishi Heavy Industries, Ltd. (Japan), and Wartsila (Finland).
The global marine scrubber industry is expected to witness high growth during the forecast period owing to the compliance with MARPOL regulations. This is expected to drive the demand for marine scrubber during the forecast period.
Based on region, the global marine scrubber market is segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Europe holds the largest share of the marine scrubber market due to the rising environmental concerns supported by stringent government regulations. Increasing focus on reducing sulfur emissions from marine vessels will have a positive impact on the global marine scrubber market. All these factors will drive the demand for marine scrubber in the region.
Report Attribute/Metric | Details |
Market Size | · 2027:USD 9.01 Billion · 2030 : 12,035 Million |
CAGR | 10.1% (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Historical Data | 2019 & 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Technology, Fuel and Application |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Kwangsung Co., Ltd. (Mexico), Alfa Laval (Sweden), Hamon Research-Cottrell, Inc. (Belgium), CR Ocean Engineering (US), Damen Shipyards Group N.V. (Netherlands), VDL AEC Maritime B.V. (Netherlands), Langh Tech Oy Ab (Finland), Ecospray Technologies S.r.l. (Italy), DuPont (US), Yara International ASA (Norway), Clean Marine AS (Norway), Shanghai Bluesoul Environmental Technology Co., Ltd. (China), Fuji Electric Co., Ltd. (Japan), Mitsubishi Heavy Industries, Ltd. (Japan), and Wartsila (Finland) |
Key Market Opportunities | high cost of revamping a scrubber |
Key Market Drivers | rising demand for sustainable methods to control sulfur emissions from ships |
A marine scrubber or an exhaust gas cleaning system is used for removing harmful components like sulfur oxide and nitrogen oxide from exhaust gases.
Asia Pacific will lead the global marine scrubber market.
Growing demand for sustainable methods for controlling sulfur emissions from ships is driving the global marine scrubber market growth.
High price of revamping a scrubber may limit the global marine scrubber market.
Key contenders profiled in the global marine scrubber market include CR Ocean Engineering (US), DuPont (US), Yara International ASA (Norway), Fuji Electric Co., Ltd (Japan), and Mitsubishi Heavy Industries, Ltd (Japan).