Marine Scrubber Systems Market Size, Share and Growth Analysis
Marine Scrubber Systems Market Size and Growth Rate:
As per the latest reports published by Research Cosmos, Marine Scrubber Systems Market was valued at USD xx billion in 2017 and projected to reach USD 7.82 billion by 2025 growing at a CAGR of xx% during the forecast period 2018 to 2025.
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Marine Scrubber Systems Market Growth Drivers and Restraints:
It is expected that the guidelines prescribed by international organizations create lucrative opportunities for purification companies and facilities for the treatment of new vessels or modernization facilities. A large number of shipowners and operators have adopted boat washing systems to comply with existing regulations and fuel sulfur regulations of the International Maritime Organization (IMO). The sulfur ceiling has already been reduced to 0.1% in a few designated areas in the Emissions Control Areas (ECA) since 2015, while an overall limit of 0.5% for maritime transportation will come into force on January 1, 2020. Options before owners have to use marine fuels with low sulfur content or use technologies such as offshore washing systems to treat the toxic emissions of fuel oil with high sulfur content that they prefer to use.
Geographical Analysis of Marine Scrubber Systems Market:
By 2018, Western Europe and the Asia-Pacific region are considered to be the most lucrative regions of the global market for deep-sea washing systems and are expected to account for 58% of the global opportunity in absolute dollars. It is also expected that the market for the North American marine treatment system will grow steadily, thanks to the CEA regulations already in force for the waters of the North American and Caribbean seas, and the forthcoming regulations for 2020 to stimulate demand. South Korea and China remain strong markets for marine treatment systems, and the Southeast Asia-Pacific region is showing sustained growth.
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Key Players of Marine Scrubber Systems Market:
Alfa Laval AB, Wärtsilä Oyj Abp, E. I. du Pont de Nemours and Company, Yara Marine Technologies AS, Valmet Corporation, Fuji Electric Co. Ltd., VDL AEC Maritime, Andritz AG, CR Ocean Engineering, LLC, Feen Marine Scrubbers Inc., Hyundai Heavy Industries, Mitsubishi Heavy Industries, Ltd., and Pacific Green Marine Technologies Inc. are the major players of the market.
Marine Scrubber Systems Market Segmentation:
By Product:
- Open Loop Scrubbers
- Closed Loop Scrubbers
- Hybrid Scrubbers
By Application:
- Retrofit
- New Ships
By Region:
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
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