Marine Scrubber Market To Gain USD 16,382 Million Revenue By 2030 Growing At 18.8% CAGR – Exclusive Report By Acumen Research and Consulting

Acumen Research and Consulting recently published report titled �Marine Scrubber Market, Share, Analysis Report and Region Forecast, 2022 – 2030”

Seattle, Aug. 24, 2022 (GLOBE NEWSWIRE) — The global marine scrubber market size accounted for USD 3,558 Million in 2021 and is estimated to achieve a market size of USD 16,382 Million by 2030, growing at a CAGR of 18.8% from 2022 to 2030.

Marine Scrubber Market Report Highlights

• Global marine scrubber market size was valued at US$ 3558 million in 2021 and projected to grow at 18.8% during the forecast period 2022-2030
• Europe marine scrubber market led with more than 30% market share in 2021
• Based on scrubber technology, the hybrid technology is expected to lead the market throughout the forecast period
• Demand for marine scrubbers in bulk containers and oil/chemical vessels is driving the market growth
• Asia-Pacific marine scrubber market is likely to witness fastest growth rate in the coming years
• Retrofit application segment is expected to lead the market with the utmost share

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Marine Scrubber Market Report Coverage:

Parameter	Marine Scrubber Market
Marine Scrubber Market Size 2021	US$ 3,558 Million
Marine Scrubber Market Forecast 2030	US$ 16,382 Million
Marine Scrubber Market CAGR During 2022 – 2030	18.8%
Marine Scrubber Market Analysis Period	2018 – 2030
Marine Scrubber Market Base Year	2021
Marine Scrubber Market Forecast Data	2022 – 2030
Segments Covered	By Technology, By Fuel Type, By Vessel Type, By Application, And By Geography
Marine Scrubber Market Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled	Alfa Laval AB, Clean Marine AS, Damen Shipyards Group N.V., DuPont, Ecospray Technologies S.r.l., Fuji Electric Co. Ltd., Kwangsung Co., Ltd., Mitsubishi Heavy Industries, Valmet Corporation, Wärtsilä Oyj Abp, and Yara Marine Technologies AS.
Report Coverage	Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Marine scrubbers are exhaust gas cleaning systems (EGCS) that purify exhaust emissions by removing hazardous substances. The increasing stringency of regulatory standards for sulphur oxide and nitrogen oxide emissions by government bodies such as the International Maritime Organization (IMO) and the European Commission is driving the marine scrubber market size. In transferring large freight around the world, the shipping industry is one of the top subsectors of the transportation sector that adheres to the severe IMO environmental standards. The Marine Environmental Protection Committee (MEPC) has prioritized the elimination of air pollution, and as a result, numerous laws have been implemented to reduce hazardous emissions from ships such as carbon dioxide, sulphur oxide, and nitrogen oxide. SOx and NOx are both combustion products that are discharged into the environment as smoke.

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Sulphur scrubbing is an appealing option to comply with International Maritime Organization requirements while reducing ship running costs. Leading manufacturers are developing scrubber technologies with distinct features to enable the maritime industry to operate more sustainably. One of the trends in the marine scrubber market that is assisting in the industry’s success is the growing interest in marine automation. Furthermore, the increasing use of various sensors in marine scrubbers is driving market demand in the approaching years.

COVID-19 Impact on Marine Scrubber Market Share

As a result of the coronavirus pandemic, ship owners are delaying or canceling the installation of marine scrubbers that extract toxic sulphur emissions from their marine vessels. Scrubbers may become less of an opportunity for ship owners to comply with regulations as a result of the industry financial squeeze created by a drop in demand for freight services as a result of the COVID-19 crisis. The IMO mandatory imposed regulations on installing marine scrubbers from January 1, 2020, was expected to create significant opportunities in the market, although the advent of the coronavirus pandemic stood as a barrier to the marine scrubber market growth. Besides that, despite the COVID-19 epidemic, some leading players delivered a record-breaking number of scrubbers in 2020. It demonstrates the global fleet’s continuous interest in exhaust gas reduction systems as long-term solutions. For example, in November 2020, Wärtsilä secured a substantial contract from Japan Marine United (JMU) to install a 25 MW scrubber aboard a new Japanese-owned Very Large Crude Carrier (VLCC) due to be delivered in 2022.

Marine Scrubber Market Dynamics

Growing environmental concerns along with improving government regulations are driving the marine scrubber market share. The increasing focus on workers’ safety is another factor that is driving the industry’s growth. The rising demand for marine scrubbers in bulk containers and oil/chemical vessels expands the market share. However, the high installation cost of these systems and the requirement of significant onboard storage to handle reactants are some of the factors that are restricting the market growth.

Immediate Sulphur Cap Regulation Imposed By International Maritime Organization (IMO) To Drive Marine Scrubber Market Share

According to International Maritime Organization (IMO) standards, the sulphur content of fuels carried by merchant’s vessels must be limited to 0.5% globally and 0.1% m/m in ECAs (Emission Control Areas; The North Sea area, The Baltic Sea Area, The United States, Canada, and the US Caribbean Sea area). Stricter sulfur limits have substantially halved sulphur dioxide emissions around SECAs, benefiting residents in coastal regions and ports while having a little overall economic impact on the sector. As a result, marine exhaust gas scrubbers are being installed on a huge number of ships to meet international norms and requirements while staying under budget.

Marine Scrubber Market Segmentation

The global market has been split into five categories: technology, fuel type, vessel type, application, and region.

The technology sector is bifurcated into wet technology and dry technology. The wet technology segment is further categorized into closed-loop, hybrid, and open loop. Among them, hybrid technology is expected to gain significant traction in the coming years owing to its several advantages as compared to open loop and closed loop technologies.

By fuel type, the segmentation includes MDO, MGO, LNG, and hybrid. Based on our marine scrubber industry analysis, the MGO fuel type is likely to register a rapid growth due to its ability to produce comparatively less quality sulphur emissions in the atmosphere.

Vessel type comprises commercial (bulk carriers, containers, tankers, and roll on/roll off), recreational (cruise ships, yachts, ferries), offshore (AHTS, PSV, FSV, and MPSV), and navy. In 2021, commercial vessels generate maximum marine scrubber market revenue owing to the growing international trade; however, the recreational and offshore vessels are expanding at a rapid growth during the forecasted timeframe from 2022 to 2030.

Furthermore, the application segment is split into a new build and retrofit. As per our marine scrubber market forecast, the retrofit application is expected to lead the market with the utmost shares. The high growth in the segment is credited to the immediate mandatory installation of marine scrubbers, and the requirement of less expenditure to install on existing structures as compared to new build applications.

Marine Scrubber Market Regional Outlook

North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa account for the majority of the worldwide marine scrubber industry. In 2021, European Union gathered a considerable market share of marine scrubbers. The growing regulatory standards to reduce sulphur emissions, and the existence of earth’s prominent commercial shipping line is supporting the European marine scrubber market. In addition, the North American marine scrubber market stood for a second-largest position in the global scenario owing to the increased budget spending on military vessels, and growing focus on offshore applications. Asia-Pacific, on the other hand, is likely to witness the fastest growth rate in the coming years due to the increasing fleet of vessels in countries like China, India, Japan, and South Korea.

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Marine Scrubber Market Players

Some prominent marine scrubber companies covered in the industry include Alfa Laval AB, Clean Marine AS, Damen Shipyards Group N.V., DuPont, Ecospray Technologies S.r.l., Fuji Electric Co. Ltd., Kwangsung Co., Ltd., Mitsubishi Heavy Industries, Valmet Corporation, Wärtsilä Oyj Abp, and Yara Marine Technologies AS.

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