Global Market Study on Marine Scrubber Systems: High Cost of Low Sulfur Fuel Blends and Limited Supply to Drive Revenues Through 2028


Marine Scrubber Systems  Market
  • Published On : Nov-2018 |
  • Pages : 258 Pages |
  • Format :

Marine Scrubber Systems Market: Report Description

This PMR study on the marine scrubber systems market offers a ten forecast for the global marine scrubber systems market between 2018 and 2028. The marine scrubber systems market study considers 2017 as the base year with market values estimated for 2018 and a forecast developed for the duration 2018 to 2028. Compound Average Growth Rate (CAGR) for the marine scrubber systems market study is represented from 2016 to 2028. The marine scrubber systems market study covers various perspectives of the market, including market dynamics, value chain, pricing analysis, competition analysis, regional and segmental growth comparison and macro-economic and industry growth analysis, along with segment-level projections in a comprehensive manner. As per the findings of the study and perspectives of industry participants, the global marine scrubber systems market is projected to grow at a CAGR of 20.4% between 2018 and 2028 in terms of value. Growing environmental concerns, impending and existing maritime regulations for controlling toxic emissions are some of the factors positively impacting the uptake of marine scrubber systems in the global market.

Marine scrubber systems are installed in the exhaust systems of marine vessels and perform the critical function of removing SOx from the exhaust streams of ship engines, before the exhaust stream is released into the environment. Marine scrubber systems are a key compliance option for ship-owners and operators who need to continue their usage of high sulphur fuel oil after International Maritime Organization’s global marine fuel sulphur cap of 0.5% mass/mass comes into effect from January 2020 onwards. Marine scrubber systems provide a viable alternative to ship-owners who do not want to switch to the costly option of using low sulphur fuel oil for their vessels post the 2020 deadline.

The Persistence Market Research report on the marine scrubber systems market carefully analyses the market at a global and regional level through market segmentation on the basis of key parameters such as technology, application, vessel type, fuel type and region. The marine scrubber systems market report is structured to facilitate the reader to develop a thorough understanding of the market. The marine scrubber systems market report begins with market definitions, which are followed by the market background, market dynamics and market analysis by key segments, regional analysis and competition landscape. Each section of the marine scrubber systems market report covers a qualitative and quantitative assessment of the market on the basis of facts, historical developments and key opinions collected from industry participants through dedicated interviews and trends in the market.

Marine Scrubber Systems Market: Segmentation

Technology

Application

Vessel Type

Fuel Type

  • Wet
    • Open Loop
    • Closed Loop
    • Hybrid
  • Dry
  • New-build
  • Retrofit
  • Commercial Vessels
    • Container Ships
    • Bulk Carriers
    • Tankers
    • Cruise Liners
    • Other Commercial Vessels
  • Offshore Vessels
    • FPSO Vessels
    • Other Offshore Vessels
  • Navy Vessels
  • Marine Diesel Oil (MDO)
  • Intermediate Fuel Oil (IFO)
  • Residual Fuel Oil (RFO)

The marine scrubber systems market report begins with a market introduction, which defines the market taxonomy and product definitions with respect to the global marine scrubber systems market assessment. In the next section, the marine scrubber systems market report describes the market development background, covering macro-economic factors, industry factors affecting the marine scrubber systems market for the base year considered for the study.

The next section of the marine scrubber systems market report discusses market dynamics, such as drivers (supply and demand side), restraints and trends impacting the market growth at a global level. This section also includes the impact assessment of market dynamics on the global marine scrubber systems market at a qualitative level based on analysis facts and insights.

Subsequent sections of the marine scrubber systems market report provide value (US$ Mn) and volume (number of units) projections for the marine scrubber systems market on the basis of the aforementioned segments at a global level. The next section of the report presents a summarised view of the global marine scrubber systems market based on seven prominent regions considered in the study.

All the above sections evaluate the present marine scrubber systems market scenario and growth prospects in the global marine scrubber systems market while the forecast presented in the sections assesses the market size in terms of volume and value.

In addition, it is imperative to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market on the basis of key parameters such as Year-on-Year (Y-o-Y) growth to understand the predictability of the marine scrubber systems market and identify the right opportunities available.

Another key feature of this marine scrubber systems market report is the analysis of all key segments in the marine scrubber systems market, sub-segments and the regional adoption and revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market; however, the absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the marine scrubber systems market.

In order to understand the key market segments in terms of growth and installation of marine scrubber systems across concerned regions, Persistence Market Research has developed the attractiveness index, which will help providers to identify real market opportunities.

In the final section of the marine scrubber systems market report, a competitive landscape of the marine scrubber systems market has been included to provide report audiences with a dashboard view, categorised on the basis of providers present in the value chain, their presence in the Marine Scrubber Systems market and key differentiating factors and strategies. The primary category of providers covered in the report includes the manufacturers of marine scrubber systems. This section in the marine scrubber systems market report is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the marine scrubber systems market. Examples of some of the key competitors covered in marine scrubber systems report include Wärtsilä Oyj Abp, Alfa Laval AB, Yara Marine Technologies AS, E. I. du Pont de Nemours and Company, Fuji Electric Co. Ltd., Valmet Corporation, Andritz AG, VDL AEC Maritime, Feen Marine Scrubbers Inc., CR Ocean Engineering, LLC, Mitsubishi Heavy Industries, Ltd., Hyundai Heavy Industries and Pacific Green Marine Technologies Inc., among others.

The report covers comprehensive information about market trends, volume (number of units) and value (US$ Mn) projections, market dynamics, competition and recent developments in the global Marine Scrubber Systems market for the study period 2013 to 2028.

The global Marine Scrubber Systems market is expected to provide absolute $ opportunity of USD 11.1 billion during the forecast period while registering a CAGR of 20.4%, by value, for the period between 2018 and 2028. International regulations capping sulfur content in marine fuels and long-term cost savings and short payback on investments are some of the factors expected to lay a strong foundation for the robust growth of the global Marine Scrubber Systems market.

Wet Marine Scrubber Systems to Find Extensive Usage across the Globe 

Based on technology, Marine Scrubber Systems are categorized into wet Marine Scrubber Systems and dry Marine Scrubber Systems. The wet Marine Scrubber Systems segment is further sub-divided into open loop Marine Scrubber Systems, closed loop Marine Scrubber Systems and hybrid Marine Scrubber Systems. The wet technology segment is expected to dominate the Marine Scrubber Systems market, in terms of value as well as volume, during the entire forecast period. Wet Marine Scrubber Systems are highly efficient and the open loop version uses natural seawater available during the maritime journey to treat exhaust and remove SOx. These usage characteristics make them preferable for use, primarily for large ocean going vessels operating away from coastal areas.

By the end of 2028, the wet technology Marine Scrubber Systems segment is projected to grow to 6X its size in 2018 by value, accounting for 92% of the absolute dollar opportunity created during the forecast period.

Growing Demand for Retrofit Application as Ship Owners Race Against Time for Complying with Impending Regulations

The Marine Scrubber Systems Market, by application, has been segmented into New-build and Retrofit. New-build application refers to the installation of Marine Scrubber Systems on ships that are under construction. Retrofit application refers to installation of Marine Scrubber Systems on existing ships which do not have such exhaust gas cleaning system installed. With the impending IMO sulfur cap of 0.5% scheduled to come into force, starting 1 January 2020, the existing fleet of marine vessels face the choice of either switching to low sulfur content fuels after the deadline or install Marine Scrubber Systems to cleanse the exhaust system of SOx and particulate matter resulting from the use of high sulfur fuel oil. Thus, a significant number of ship owners are embracing the option of retrofitting their vessels with Marine Scrubber Systems to stay compliant with international regulations post the 2020 deadline, while continuing to use high sulfur fuel oil. However, the new-build application segment is projected to witness comparatively fast growth during the forecast period as increasing number of fleet owners with new ship constructions on order are opting for installing Marine Scrubber Systems on their vessels, which costs comparatively lower than retrofits that may be required later.    

The retrofit segment is expected to create absolute $ opportunity of US$ 6.8 billion between 2018 and 2028.

Marine Scrubber Systems Demand from Large Ocean Going Vessels to Witness Above Average Growth  

Amongst all vessel types analyzed in this global Marine Scrubber Systems market study, the commercial vessels segment is expected to register about 6.2X growth in terms of value. Among commercial vessels, bulk carriers, tankers and container ships account for the largest share in the Marine Scrubber Systems market.

In terms of incremental $ opportunity, bulk carriers are projected to account for 31.6% of the total absolute dollar opportunity in the Marine Scrubber Systems market during the forecast period.

Western Europe and Asia Pacific to Lead Growth in the Marine Scrubber Systems Market

The Asia Pacific excluding Japan (APEJ) region is expected to grow and become 8X as compared to its size in 2018 and will be followed by Western Europe and North America, in terms of value growth, during the forecast period. China, South Korea and ASEAN countries are projected to lead growth in the Asia Pacific region with growing demand for Marine Scrubber Systems from large merchants and commercial fleet owners in the region. In Western Europe, the presence of some of the world’s largest commercial shipping line owners in Greece, the Nordic Countries and other parts of the region is projected to create significant demand for Marine Scrubber Systems.

Collectively, Western Europe and APEJ regions are projected to create absolute dollar opportunity of more than US$ 6.4 Billion in the Marine Scrubber Systems market during the forecast period.

marine scrubber systems market

Marine Scrubber Systems Market – Competitive Landscape

The global Marine Scrubber Systems market is highly competitive, although the market is tilted in favor of large international manufacturers, which account for major market share. Globally, the top 5 players in the market collectively hold between 50% and 60% of the market share.

In the recent past, the Marine Scrubber Systems market has witnessed significant developments from the competition perspective. New product launches, expansions, acquisitions and collaborations are some of the key preferred strategies opted by key players to expand and sustain in the global Marine Scrubber Systems market.

  • In June 2018, Frontline , one of the world’s largest oil tanker fleet operators, signed a Memorandum of Agreement (MoA) to acquire a 20% stake in Feen Marine Scrubbers, a Singapore-based original equipment manufacturer (OEM) of Exhaust Gas Cleaning Systems (EGCS)
  • In June 2017, Mitsubishi Heavy Industries and Mitsubishi Hitachi Power Systems announced the joint development of a large-scale rectangular marine scrubber that removes sulfur oxide (SOx) from the exhaust gases emitted by marine diesel engines
  • In November 2016, Andritz AG signed a cooperation agreement with TeamTec AS. As part of this agreement, TeamTec will be responsible for the global sales and marketing of SeaSOx Marine Scrubber Systems, including after-sales services

Some of the prominent players covered in this market study on the global Marine Scrubber Systems market include Wärtsilä Oyj Abp, Alfa Laval AB, Yara Marine Technologies AS, E. I. du Pont de Nemours and Company, Fuji Electric Co. Ltd., Valmet Corporation, Andritz AG, VDL AEC Maritime, Feen Marine Scrubbers Inc., CR Ocean Engineering, LLC, Mitsubishi Heavy Industries, Ltd., Hyundai Heavy Industries, and Pacific Green Marine Technologies Inc.

Key Questions Answered in the Report

  • How has the Marine Scrubber Systems market evolved over the past four years?
  • What shape is the Marine Scrubber Systems market expected to take in terms of volume and value during the study period?
  • What are some of the prevailing market dynamics in the Marine Scrubber Systems market?
  • What are the competition developments and trends in the Marine Scrubber Systems market?
  • What are some of the underlying macro-economic and industry factors impacting the growth of the Marine Scrubber Systems market?
  • What are the important key challenges, opportunities and improvement factors for Marine Scrubber Systems market players?
  • What are the important market positioning and key strategies of key manufacturers as per the Marine Scrubber Systems market taxonomy?
  • How the competition is structured at present and how has it evolved in the Marine Scrubber Systems market over the past few years?

Company Profiles

  • Alfa Laval AB
  • Wärtsilä Oyj Abp
  • Yara Marine Technologies As
  • VDL AEC Maritime
  • Feen Marine Scrubbers Inc.
  • CR Ocean Engineering, LLC
  • E. I. du Pont de Nemours and Company
  • Mitsubishi Heavy Industries, Ltd.
  • Hyundai Heavy Industries
  • Kwangsung Co.,Ltd
  • Shanghai Bluesoul Environmental Technology Co.,Ltd.
  • Pacific Green Marine Technologies Inc.
  • Primarine GmbH
  • Ecospray Technologies
  • PANASIA CO., LTD.
  • Valmet Corporation
  • Fuji Electric
  • ANDRITZ AG
  • Ionada Incorporated
  • Others.
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