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The marine scrubber market is estimated to grow at a CAGR of 29.32% between 2022 and 2027. The size of the market is forecast to increase by USD 12,000.63 million. The growth of the market depends on several factors, including compliance with MARPOL regulations, growth in global seaborne trade, and financial aid for the installation of marine scrubbers.
This report extensively covers market segmentation by product (hybrid, open loop, and others), application (commercial, navy, recreational, and offshore), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technavio categorizes the global marine scrubber market as a part of the global industrial machinery market. The parent global industrial machinery market covers companies engaged in manufacturing industrial machinery and components covering presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The growth in global seaborne trade is notably driving the market growth, although factors such as the long payback period may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Marine Scrubber Market Driver
The growth in global seaborne trade is notably driving the market growth. Maritime transport has been the backbone of world trade, as the industry accounts for more than three-quarters of world trade. Global maritime transport has grown in recent decades and has become a stable and strong part of shipping. The growth of the global economy and the continued growth of trade between countries has affected the overall demand for maritime transport and maritime transport services.
Developing countries play a key role in global maritime transport due to increased trade of all kinds of goods. In the last decade, the global import and export scenario has been dominated by developing countries, which has led to demand for maritime transport services and, in turn, maritime trade. However, ships participating in global maritime traffic must navigate through various open seas and territorial waters. Therefore, these ships must meet different emission standards to operate in these special areas. This is leading to the need to install marine scrubbers on ships, fueling the growth of the global market. Such factors will influence the market growth during the forecast period.
Significant Marine Scrubber Market Trend
Growing demand for end-to-end services is an emerging trend in the market. In the global marine scrubber market, some major suppliers only offer equipment or systems, while some specialize in providing catalysts or automation solutions. However, end users prefer complete solutions that are economical and can provide them with a low total cost.
End-users who invest a lot in the installation of equipment and require maintenance, because they do not have the necessary skills to do so themselves, prefer suppliers that offer complete solutions of products and services, i.e. suppliers who can guarantee a certain number of years of maintenance. . That is why many providers in the market have started to offer comprehensive solutions that increase customer satisfaction. Such solutions will drive market growth during the forecast period.
Major Marine Scrubber Market Challenge
The long payback period is a major challenge impeding the market. The payback period is defined as the length of time required for an investment to cover its initial cost, either through payback or savings. The payback period for a ship washer is derived based on the savings or benefit it makes to the ship owner by allowing the use of HSFO fuel instead of LSFO in the most stringent regulatory areas.
However, marine scrubbers are expensive and involve high capital costs, as the total cost of installing a scrubber, including design costs, exceeds the cost of the equipment itself. Currently, due to the low price difference between LSFO and HSFO, the payback period for the marine scrubber is high. These factors will hinder the growth of the global market during the forecast period.
Key Marine Scrubber Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Marine Scrubber Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Damen Shipyards Group - The company operates under one segment. The company under this segment operates 36 shipbuilding, and repair yards, and manufactures and repairs workboats, ferries, dredgers, yachts, and others. The key offerings of the company include marine scrubbers.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the hybrid 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.
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The hybrid segment was valued at USD 720.36 million in 2017 and continued to grow until 2021. Using hybrid marine scrubbers enables ships to operate in an open-loop mode in waters with high levels of alkalinity and to operate in a closed-loop mode in areas where the alkalinity of the water is too low for the open-loop mode. Hybrid marine scrubbers also allow ships to continue using HSFO instead of LSFO in areas that have strict regulations on the discharge of water. The hybrid marine scrubbers are also suitable for ships that regularly operate in both ECA and non-ECA regions, resulting in significant cost savings for shipping companies. These factors will drive segment growth during the forecast period.
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APAC is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The growth of the market in APAC is attributed to the implementation of regulations by MARPOL, the growth in fleet ownership, and the increase in trade activities. China introduced three ECAs near its coast, which were implemented on January 1, 2016, and require 0.50% m/m emission standard compliance. However, the implementation of new MARPOL emission standards will make it necessary for ships operating in the other areas of APAC to also comply with the new standards.
Asia is likely to remain one of the fast-growing regions for the maritime and offshore oil and gas industries despite the challenging global environment. Also, new multilateral initiatives such as the Trans-Pacific Partnership (TPP) and the Association of Southeast Asian Nations (ASEAN) Economic Community (AEC) are expected to increase intra-regional and international trade further. Moreover, APAC has some of the world's busiest ports in countries such as China (Port of Shanghai). These ports are major hubs for international trade in APAC, resulting in a high level of ship-related activities in the region. Owing to all the above-mentioned factors, the marine scrubber market will grow in APAC during the forecast period.
The market in the region witnessed certain challenges due to the COVID-19 pandemic in 2020. However, operations in various industries restarted gradually by the end of 2020 with a limited capacity while maintaining social distancing norms. The manufacturing units related to the marine industry became completely operational. Therefore, the reopening of the APAC marine industry is expected to stabilize the growth of the regional market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Product (Hybrid, Open loop, and Others), Application (Commercial, Navy, Recreational, and Offshore), and Geography (APAC, Europe, North America, South America, and Middle East and Africa).
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Marine Scrubber Market Scope |
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Report Coverage |
Details |
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Page number |
171 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 29.32% |
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Market growth 2023-2027 |
USD 12,000.63 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
27.84 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 41% |
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Key countries |
China, South Korea, Japan, UK, and Norway |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Alfa Laval Corporate AB, Andritz AG, Bilfinger SE, Clean Marine AS, CR Ocean Engineering LLC, Damen Shipyards Group, DuPont de Nemours Inc., Ecospray Technologies Srl, Feen Marine, Fuji Electric Co. Ltd., Kwangsung Co. Ltd, Langh Ship Oy Ab, LiqTech International Inc., Mitsubishi Heavy Industries Ltd., Pacific Green Technologies Inc., PureteQ AS, SAACKE GmbH, Valmet Corp., VDL Groep BV, and Yara International ASA. |
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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, and Market condition analysis for the forecast period. |
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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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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