Marine Scrubber Systems Market
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 Segmented By Open Loop, Closed Loop, Hybrid Wet and Dry Technology with New-build, Retrofit in Commercial Vessels, Offshore Vessels and Navy Vessels with Marine Diesel Oil , Intermediate Fuel Oil and Residual Fuel Oil
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.
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- 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
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.
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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.
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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.
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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 – 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?
Marine Scrubber Systems Market: Segmentation