Marine Scrubber Systems Market Augmented Expansion to be Registered by 2018 to 2028

Posted on 2019-04-29 by Mark Hub in Industrial // 0 Comments

FactMR has actively circulated a new research study titled “Marine Scrubber Systems Market Augmented Expansion to be Registered by 2018 to 2028 | Industry Players are Wärtsilä Oyj Abp, Yara Marine Technologies As, VDL AEC Maritime, etc.” to its broad online database. This assessment works to discourse the major trends, opportunities and drivers motivating the marine scrubber systems market during 2018-2028. The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants. As per research findings, the global marine scrubber systems market is expected to showcase impressive growth at 20.4% CAGR during the period until 2028.

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The marine scrubber systems market remains a highly competitive landscape, with international players holding a significant pie of the global market share. The top 5 manufacturing companies in the marine scrubber systems market collectively account for nearly 50-60% of the revenue share, driven by robust product portfolios and operational effectiveness. Over the past few years, the marine scrubber systems market has witnessed continual and significant developments by the leading players, which were specifically aimed at amplifying their market sustenance.

Wet technology remains the highly favored technology in the Marine Scrubber Systems market space over the forecast period. The buoyancy of wet marine scrubber systems can be accredited to their high-scale efficiency and provision of using available seawater during maritime journey, which helps in curbing noxious emissions and removing SOx. These characteristics, in turn, foster the popularity of wet technology as a viable proposition for use. Moreover, wet technology is a low cost and an effective technology, which is a key factor enhancing its visibility over other technologies.

The marine scrubber systems is foreseen to demand from both greenfield (installing marine scrubber systems on new ships) and brownfield (installing marine scrubber systems on pre-existing ships lacking efficient exhaust cleaning systems). However, the demand for marine scrubber systems in retrofit applications is likely to witness exponential growth, owing to federal interventions and amendments. For instance, the IMO Fuel Sulphur Regulation, which is impeding and is scheduled for January 2020, will ask the existing marine vessels to switch to either low sulphur-concentrated fuels or employ marine scrubber systems for cleaning the exhaust frameworks of SOx.

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A substantial cohort of the ship owners have already favored the idea of marine vessels having marine scrubber systems in a bid to comply with the regulations post 2020 deadline. Strong initiatives like the aforementioned are likely to put marine vessels under the pressure to opt for effective exhaust cleansing systems, such as marine scrubber systems.

APEJ continues to be highly lucrative with prime opportunities for manufacturers of marine scrubber systems, with Western Europe & North America following the suit. Key ASEAN countries such as South Korea, China, India, and others are foreseen to stay the forefront of demand for effective marine scrubber systems, notably from renowned merchants as well as commercial fleets across APEJ region.

Western Europe demonstrates wide-spread presence of leading commercial shipping lines, primarily across the Nordic nations, Greece & other parts, making it a remunerative region for manufacturing companies in the marine scrubber systems market to take into account. APEJ and Western Europe, collectively, are estimated to create an absolute $ opportunity exceeding US$ 6.4 Bn over the forecast timeline.

Marine Scrubber Systems Market- Additional Questions Answered

How has growth of marine scrubber systems market taken off over the past few years?
Which product type in the marine scrubber systems market continues to outperform other types over the forecast timespan?
What are the few significant macroeconomic factors having profound influences on growth of marine scrubber systems market?

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