The Marine Scrubber Systems Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Marine Scrubber Systems Global Market Report 2024, The marine scrubber systems market size has grown rapidly in recent years. It will grow from $5.43 billion in 2023 to $6.26 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The growth in the historic period can be attributed to stringent emission regulations, fuel cost savings, environmental sustainability, global trade growth, sulfur emission compliance, fuel flexibility.
The marine scrubber systems market size is expected to see rapid growth in the next few years. It will grow to $10.48 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. The growth in the forecast period can be attributed to continued regulatory stringency, rising bunker fuel prices, global sustainability initiatives, expansion of emission control areas, technological integration.. Major trends in the forecast period include retrofitting of scrubber systems on existing vessels, development of compact and modular scrubber designs, adoption of exhaust gas cleaning systems for two-stroke engines, focus on scrubber waste management, industry collaboration for research and innovation..
Increased demand for maritime vessels is expected to propel the growth of the marine scrubber systems market going forward. Maritime vessels refer to ships or watercraft designed for use in maritime or oceanic environments. The increasing demand for maritime vessels fuels the need for scrubber systems that are used to reduce air pollution emissions, particularly sulfur dioxide (SO2), resulting from the combustion of fuels such as heavy fuel oil. For instance, in January 2021, according to the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization, the number of merchant fleet or vessel registrations increased from 94 thousand in 2017 to 103 thousand in January 2022. In addition, developing economies accounted for the largest share, with 67.6% of merchant fleet or vessel registrations in 2022. Therefore, increased demand for maritime vessels is driving the growth of the marine scrubber systems market.
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The marine scrubber systems market covered in this report is segmented –
1) By Technology: Wet Technology, Dry Technology
2) By Fuel: Marine Diesel Oil (MDO), Marine Gasoil (MGO), Hybrid, Other Fuels
3) By Application: Commercial, Offshore, Recreational, Navy, Other Applications
Product innovation is the key trend gaining popularity in the marine scrubber systems market. Companies operating in the marine scrubber systems market are focused on creating innovative products to sustain their position in the market. For instance, in November 2021, Wärtsilä Oyj Abp, a Finland-based power generation and marine propulsion solutions developer launched a new lighter, smaller IQ Series scrubber. The IQ Series is the most recent advancement in maritime exhaust gas treatment technologies that cater specifically to container vessels, meeting the growing demand for scrubbers as a compliance option in the container market. The IQ Series scrubber boasts a compact design, occupying 25% less space, weighing 30% less, and occupying 35% less volume. These enhancements optimize vessel profitability by minimizing the impact on cargo-carrying capacity while delivering the same high-quality exhaust gas cleaning results.
The marine scrubber systems market report table of contents includes:
1. Executive Summary
2.Marine Scrubber Systems Market Characteristics
3.Marine Scrubber Systems Market Trends And Strategies
4.Marine Scrubber Systems Macro Economic Scenario
5.Marine Scrubber Systems Market Size And Growth
6.Marine Scrubber Systems Segmentation
7.Marine Scrubber Systems Regional And Country Analysis
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27.Marine Scrubber Systems Competitive Landscape And Company Profiles
28.Marine Scrubber Systems Key Mergers And Acquisitions
29.Marine Scrubber Systems Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Alfa Laval AB
- Yara International ASA
- Clean Marine AS
- Valmet Oyj
- DuPont de Nemours Inc.
- CR Ocean Engineering
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