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Marine Scrubber Market by Product and Geography - Forecast and Analysis 2020-2024

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR40474
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The marine scrubber market share is expected to increase by USD 5.89 billion from 2019 to 2024, and the market's growth momentum will decelerate at a CAGR of 42.02%.

This marine scrubber market research report extensively covers marine scrubber market segmentation by product (hybrid, open loop, and others) and geography (APAC, Europe, North America, MEA, and South America). The marine scrubber market report also offers information on several market vendors, including Alfa Laval, Clean Marine AS, CR Ocean Engineering LLC, DuPont de Nemours Inc., Langh Tech Oy AB, Mitsubishi Heavy Industries Ltd., Shanghai Bluesoul Environmental Technology Co. Ltd., Valmet, Wärtsilä Corp., and Yara Marine Technologies among others.

What will the Marine Scrubber Market Size be During the Forecast Period?

Marine Scrubber Market Size

Download the Free Report Sample to Unlock the Marine scrubber market Size for the Forecast Period and Other Important Statistics

 

Marine Scrubber Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and after post-COVID-19 era. Compliance with marpol regulations is notably driving the marine scrubber market growth, although factors such as frequent changes in regulations may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the marine scrubber industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Marine Scrubber Market Driver

Compliance with MARPOL regulations is one of the key factors driving the growth of the global marine scrubber market. Annex VI of the MARPOL Convention, which entered into force on May 19, 2005, includes regulations for the prevention of air pollution from ships. In October 2016, IMO's Marine Environment Protection Committee (MEPC 70) decided that a global sulfur cap of 0.5% m/m on marine fuels should apply from January 1, 2020, which would require all ships to comply with the regulations. The current global sulfur cap is 3.50%, which has been in effect since January 1, 2012. Furthermore, the ECAs have even stringent emission standards, with a sulfur emission cap of 0.10% m/m since January 1, 2015. Moreover, after the implementation of the new regulations, demand for HSFO is expected to decline owing to the availability of multiple substitute fuels that are compliant with the MARPOL regulations. With HSFO prices declining and other substitute fuels being already costlier than HSFO, ships will increasingly choose to use marine scrubbers. Thus, compliance with the MARPOL regulations has been driving the growth of the global marine scrubber market.

Key Marine Scrubber Market Trend

The industrial collaborations for the adoption of marine scrubbers will fuel the global marine scrubber market growth. To encourage the adoption of marine scrubbers, market vendors are collaborating with each other and with other players in the value chain as well. These collaborations are aimed at improving scrubber technology and helping shipping companies by providing them with easy installation options. Moreover, the joint venture offers a one-stop retrofit destination to its customers for processes related to installation services, including the entire process, right from sales and engineering to production and the final installation of marine scrubbers in ships. To achieve this, AEC Maritime has been collaborating with Damen Green Solutions, a part of Damen Shipyards Group, since August 2016. Under the collaboration, Damen Shipyards Group will provide the retrofit turnkey solutions required for the installation of marine scrubbers at its shipyard. Such collaborations among industry participants are expected to increase in the coming years, which will boost the adoption of marine scrubbers by shipowners, and lead to the growth of the global marine scrubber market during the forecast period.

Key Marine Scrubber Market Challenge

The frequent changes in regulations is a major challenge for the global marine scrubber market growth. The emission standards in the industry are also highly regulated, with very stringent limits on sulfur emissions. Moreover, these emission regulations undergo a periodic revision every few years, which makes the emission standards for the shipping industry even more stringent every time. Moreover, consequently, for ships that operate in both the ECA and non-ECA areas, keeping up with the frequent changes in regulations becomes a challenge. Installing a marine scrubber can help in complying with the current emission standards, but there are always fears of further reductions in emission levels, which could eventually require the use of alternative fuels such as LSFO or LNG in ships. This could result in making the currently installed marine scrubber technology obsolete in the near future. Thus, the frequent changes in marine regulations have an adverse impact on the growth of the global marine scrubber market.

This marine scrubber market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global marine scrubber market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the marine scrubber market during the forecast period.

Who are the Major Marine Scrubber Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Alfa Laval
  • Clean Marine AS
  • CR Ocean Engineering LLC
  • DuPont de Nemours Inc.
  • Langh Tech Oy AB
  • Mitsubishi Heavy Industries Ltd.
  • Shanghai Bluesoul Environmental Technology Co. Ltd.
  • Valmet
  • Wärtsilä Corp.
  • Yara Marine Technologies

 

This statistical study of the marine scrubber market encompasses successful business strategies deployed by the key vendors. The marine scrubber market is concentrated and the vendors are deploying growth strategies such as the implementation of the revised MARPOL regulations to compete in the market.

Product Insights and News

  • Alfa Laval - The company offers a range of marine scrubbers such as PureSOx.

To make the most of the opportunities and recover from post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The marine scrubber market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Marine Scrubber Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the marine scrubber market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global industrial machinery market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Marine Scrubber Market?

Marine Scrubber Market Market segmentation by region

For more insights on the market share of various regions Request for a FREE sample now!

43% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the marine scrubber market in APAC. Market growth in this region will be faster than the growth of the market in regions.

Compliance with MARPOL regulations will facilitate the marine scrubber market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The market in the region witnessed certain challenges due to the COVID-19 pandemic in 2020. India, China, Bangladesh, and Pakistan are some of the most affected countries by the pandemic in the region. Also, the outbreak led to a decline in the number of orders for marine vessels, including scrubbers in the region, in 2020. However, operations in various industries restarted gradually by the end of 2020 with a limited capacity while maintaining social distancing norms. This is expected to stabilize the growth of the regional market during the forecast period.

What are the Revenue-generating Product Segments in the Marine Scrubber Market?

Marine Scrubber Market Segmentation

To gain further insights on the market contribution of various segments Request for a FREE sample

The marine scrubber market share growth in the hybrid marine segment will be significant during the forecast period. Hybrid marine scrubbers are a combination of both open loop and closed loop marine scrubbers, and they can operate in both modes, depending on the alkalinity of the water. Their ability to operate in water with different levels of alkalinity will spur their adoption as they offer the best of both technologies. Such factors will drive the market growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the marine scrubber market size and actionable market insights on post-COVID-19 impact on each segment.

Marine Scrubber Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Decelerate at a CAGR of 42.02%

Market growth 2020-2024

$ 5.89 billion

Market structure

Concentrated

YoY growth (%)

73.23

Regional analysis

APAC, Europe, North America, and South America

Performing market contribution

APAC at 43%

Key consumer countries

China, South Korea (Republic of Korea), Japan, Norway, and Russian Federation

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Alfa Laval, Clean Marine AS, CR Ocean Engineering LLC, DuPont de Nemours Inc., Langh Tech Oy AB, Mitsubishi Heavy Industries Ltd., Shanghai Bluesoul Environmental Technology Co. Ltd., Valmet, Wärtsilä Corp., and Yara Marine Technologies

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Marine Scrubber Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive marine scrubber market growth during the next five years
  • Precise estimation of the marine scrubber market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the marine scrubber industry across APAC, Europe, North America, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of marine scrubber market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis : Industrial machinery

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 15: Product - Market share 2020-2025 (%)
    • 5.2 Comparison by Product
      • Exhibit 16: Comparison by Product
    • 5.3 Hybrid - Market size and forecast 2020-2025
      • Exhibit 17: Hybrid - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Hybrid - Year-over-year growth 2020-2025 (%)
    • 5.4 Open loop - Market size and forecast 2020-2025
      • Exhibit 19: Open loop - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Open loop - Year-over-year growth 2020-2025 (%)
    • 5.5 Others - Market size and forecast 2020-2025
      • Exhibit 21: Others - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Others - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by Product
      • Exhibit 23: Market opportunity by Product

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 25: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 26: Geographic comparison
    • 7.3 APAC - Market size and forecast 2020-2025
      • Exhibit 27: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 28: APAC - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 29: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 North America - Market size and forecast 2020-2025
      • Exhibit 31: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: North America - Year-over-year growth 2020-2025 (%)
    • 7.6 South America - Market size and forecast 2020-2025
      • Exhibit 33: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: South America - Year-over-year growth 2020-2025 (%)
    • 7.7 MEA - Market size and forecast 2020-2025
      • Exhibit 35: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 36: MEA - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 37: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 38: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 39: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Vendor
          • Exhibit 40: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 41: Landscape disruption
          • Exhibit 42: Industry risks
        • 9.3 Competitive Scenario

          10 Vendor Analysis

          • 10.1 Vendors covered
            • Exhibit 43: Vendors covered
          • 10.2 Market positioning of vendors
            • Exhibit 44: Market positioning of vendors
          • 10.3 Alfa Laval AB
            • Exhibit 45: Alfa Laval AB - Overview
            • Exhibit 46: Alfa Laval AB - Business segments
            • Exhibit 47: Alfa Laval AB - Key news
            • Exhibit 48: Alfa Laval AB - Key offerings
            • Exhibit 49: Alfa Laval AB - Segment focus
          • 10.4 Andritz AG
            • Exhibit 50: Andritz AG - Overview
            • Exhibit 51: Andritz AG - Business segments
            • Exhibit 52: Andritz AG - Key news
            • Exhibit 53: Andritz AG - Key offerings
            • Exhibit 54: Andritz AG - Segment focus
          • 10.5 Clean Marine AS
            • Exhibit 55: Clean Marine AS - Overview
            • Exhibit 56: Clean Marine AS - Product and service
            • Exhibit 57: Clean Marine AS - Key news
            • Exhibit 58: Clean Marine AS - Key offerings
          • 10.6 CR Ocean Engineering LLC
            • Exhibit 59: CR Ocean Engineering LLC - Overview
            • Exhibit 60: CR Ocean Engineering LLC - Product and service
            • Exhibit 61: CR Ocean Engineering LLC - Key news
            • Exhibit 62: CR Ocean Engineering LLC - Key offerings
          • 10.7 DuPont de Nemours Inc.
            • Exhibit 63: DuPont de Nemours Inc. - Overview
            • Exhibit 64: DuPont de Nemours Inc. - Business segments
            • Exhibit 65: DuPont de Nemours Inc. - Key news
            • Exhibit 66: DuPont de Nemours Inc. - Key offerings
            • Exhibit 67: DuPont de Nemours Inc. - Segment focus
          • 10.8 Langh Ship Oy Ab
            • Exhibit 68: Langh Ship Oy Ab - Overview
            • Exhibit 69: Langh Ship Oy Ab - Product and service
            • Exhibit 70: Langh Ship Oy Ab - Key news
            • Exhibit 71: Langh Ship Oy Ab - Key offerings
          • 10.9 Mitsubishi Heavy Industries Ltd.
            • Exhibit 72: Mitsubishi Heavy Industries Ltd. - Overview
            • Exhibit 73: Mitsubishi Heavy Industries Ltd. - Business segments
            • Exhibit 74: Mitsubishi Heavy Industries Ltd. - Key news
            • Exhibit 75: Mitsubishi Heavy Industries Ltd. - Key offerings
            • Exhibit 76: Mitsubishi Heavy Industries Ltd. - Segment focus
          • 10.10 Valmet Oyj
            • Exhibit 77: Valmet Oyj - Overview
            • Exhibit 78: Valmet Oyj - Business segments
            • Exhibit 79: Valmet Oyj - Key news
            • Exhibit 80: Valmet Oyj - Key offerings
            • Exhibit 81: Valmet Oyj - Segment focus
          • 10.11 Wartsila Corp.
            • Exhibit 82: Wartsila Corp. - Overview
            • Exhibit 83: Wartsila Corp. - Business segments
            • Exhibit 84: Wartsila Corp.- Key news
            • Exhibit 85: Wartsila Corp. - Key offerings
            • Exhibit 86: Wartsila Corp. - Segment focus
          • 10.12 Yara International ASA
            • Exhibit 87: Yara International ASA - Overview
            • Exhibit 88: Yara International ASA - Business segments
            • Exhibit 89: Yara International ASA.- Key news
            • Exhibit 90: Yara International ASA - Key offerings
            • Exhibit 91: Yara International ASA - Segment focus

          11 Appendix

          • 11.1 Scope of the report
            • 11.2 Currency conversion rates for US$
              • Exhibit 92: Currency conversion rates for US$
            • 11.3 Research methodology
              • Exhibit 93: Research Methodology
              • Exhibit 94: Validation techniques employed for market sizing
              • Exhibit 95: Information sources
            • 11.4 List of abbreviations
              • Exhibit 96: List of abbreviations

            Research Framework

            Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

            TechnavioINFORMATION SOURCES

            Primary sources

            • Manufacturers and suppliers
            • Channel partners
            • Industry experts
            • Strategic decision makers

            Secondary sources

            • Industry journals and periodicals
            • Government data
            • Financial reports of key industry players
            • Historical data
            • Press releases
            Technavio

            TechnavioDATA ANALYSIS

            Data Synthesis

            • Collation of data
            • Estimation of key figures
            • Analysis of derived insights

            Data Validation

            • Triangulation with data models
            • Reference against proprietary databases
            • Corroboration with industry experts
            Technavio

            TechnavioREPORT WRITING

            Qualitative

            • Market drivers
            • Market challenges
            • Market trends
            • Five forces analysis

            Quantitative

            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
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            Marine scrubber market market growth will increase by $5.89 bn during 2020-2024.
            The marine scrubber market market is expected to grow at a CAGR of 42.02% during 2020-2024.
            Technavio has segmented the marine scrubber market market by product (hybrid, open loop, and others) ,geography (APAC, Europe, North America, and South America) , and geographic (APAC, Europe, North America, and South America).
            Alfa Laval, Clean Marine AS, CR Ocean Engineering LLC, DuPont de Nemours Inc., Langh Tech Oy AB, Mitsubishi Heavy Industries Ltd., Shanghai Bluesoul Environmental Technology Co. Ltd., Valmet, Wärtsilä Corp., Yara Marine Technologies are a few of the key vendors in the marine scrubber market market.
            APAC will register the highest growth rate of 43% among the other regions. Therefore, the marine scrubber market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
            • China
            • South Korea (Republic of Korea)
            • Japan
            • Norway
            • Russian Federation
            The key factors driving the marine scrubber market market growth are:
            • Compliance with MARPOL regulations
            • Industrial collaborations for the adoption of marine scrubbers
            The marine scrubber market market vendors should focus on grabbing business opportunities from the hybrid segment as it accounted for the largest market share in the base year.
            • What are the key global market and the regional market share?
            • What are the revenue-generating key market segments?
            • What are the key factors driving and challenging this market’s growth?
            • Who are the key market vendors and their growth strategies?
            • What are the latest trends influencing the growth of this market?
            • What are the variables influencing the market growth in the primary regions?
            • What are the factors influencing the growth of the parent market?
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            • Covid-19 impact and recovery analysis
            • Data on revenue-generating market segments
            • Details on the market shares of various regions
            • Five-force market analysis

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