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

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?

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?

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?

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.

Request for a FREE sample

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