Marine Scrubber Systems Market worth over $14 Bn by 2030

Marine Scrubber Systems Market size is set to surpass USD 14 billion by 2030, according to a new research report by Global Market Insights Inc.
 

Rising public and private sector investments in the development of advanced scrubbing systems will positively influence the industry demand. Major industry players are becoming actively involved in investment activities for advancing the shipping sector. Citing an instance, the leading global cruise company Norwegian Cruise Line Holdings Ltd. invested around USD 200 million for the installation of exhaust gas cleaning systems (EGCS) on some ships across its fleet. The new systems are intended to improve the environmental footprint of the ships by reducing emissions significantly.
 

Growing propensity toward environment-friendly technologies

The marine scrubber systems market from dry technology segment accounted for USD 800 million in 2021. Dry exhaust gas scrubbers are used to eliminate toxic and corrosive gases such as HCl and SO₂ mainly from outside sources. Unlike wet scrubbers, dry scrubbers do not saturate the in-treatment flue gas stream with moisture. Moreover, dry technology consumes less power, requires less maintenance, and produces no effluent streams. Rising environmental concerns are encouraging shipping companies to integrate dry scrubber technologies into their ships, further augmenting segmental growth.
 

Favorable product attributes to boost market growth

The MGO fuel segment in the marine scrubber systems market is poised to register a growth rate of more than 10% through 2030. The highly aromatic nature of the MGO fuel ensures heavy density when blended with light cycle gas oil (LCGO) in comparison to gas oil from an atmospheric distillation refinery. Furthermore, MGO is considered an LSFO (low sulfur fuel oil) owing to a low sulfur content between 0.10 and 1.50 m/m %. Low-emission fuels such as these are being increasingly adopted by ship owners, particularly across the SECAs (sulfur emission control areas), which may positively impact the industry landscape.
 

Browse key industry insights spread across 800 pages with 1554 market data tables & 29 figures & charts from the report, “Marine Scrubber Systems Market Size By Technology (Wet Technology {Open Loop, Closed Loop, Hybrid}, Dry Technology), By Fuel (MDO, MGO, Hybrid), By Application (Commercial {Container Vessels, Tankers, Bulk Carriers, RO-RO}, Offshore {AHTS, PSV, FSV, MPSV}, Recreational {Cruise Ships, Ferries, Yachts}, Navy), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/marine-scrubber-systems-market
 

Rise in international traveling to propel the usage of marine scrubber systems in recreational vessels

The marine scrubber systems market from recreational applications segment is anticipated to reach USD 1.5 billion by 2030. The cruise sector has witnessed a substantial increase in passengers over the past few years. Furthermore, cruise ships are increasingly complying with the sulfur cap implemented by the International Maritime Organization (IMO). This encourages the usage of eco-friendly components such as marine scrubbers to reduce toxic emissions and tackle climate change.
 

Increase in shipbuilding projects to amplify product deployment in North America

The North America marine scrubber systems market is projected to depict a CAGR of over 10% through 2030.  A surge in shipbuilding projects compliant with stringent regulatory norms is a major factor driving regional growth. The Shipbuilders Council of America, for instance, supports the Jones Act along with the programs and policies that promote domestic ship manufacturing. The Jones Act has helped the U.S. establish a strong shipbuilding industrial base and maintain its expertise in shipbuilding and repair. Regulatory mandates such as these will facilitate better shipbuilding activities, and in turn, bolster regional industry dynamics.
 

Strategic initiatives by market players to foster industry expansion

Key participants operating in the marine scrubber systems market are Yara International ASA, Clean Marine AS, Kwangsung Co., Ltd, ALFA LAVAL, Damen Shipyards Group N.V., CR Ocean Engineering, Ecospray Technologies S.r.l., VDL AEC Maritime B.V., Langh Tech Oy Ab, DuPont, Wartsila, and Fuji Electric Co., Ltd.
 

Many of these companies are inking deals with major shipping manufacturers to extend their business operations. For instance, in March 2022, Guangzhou Shipyard International (GSI) awarded a contract to Wartsila to install and commission two 25 MWV SOx hybrid scrubber systems for RoPax vessels. The company will deliver products that comply with the 0.5% global sulfur cap set by regulatory bodies. Other similar initiatives by organizations in the marine industry are expected to impact the business dynamics in the future.