Pune, May 04, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, an international business & consultancy firm has recently published a research report on the “Marine Scrubber Market”. The total global market for the “Marine Scrubbers” was valued at USD 5.68 Bn in 2022 and is expected to grow at a CAGR of 15.9 percent over the forecast period to reach USD 15.96 Bn by 2029.
| Market Size in 2022 | USD 5.68 Bn |
| Market Size in 2029 | USD 15.96 Bn |
| CAGR | 15.9 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 265 |
| No. of Tables | 123 |
| No. of Charts and Figures | 121 |
| Segment Covered | By Type, Technology, Application, Installation, Vessel Type, Fuel Type and Region |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2023−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Marine Scrubber Market Report Scope and Research Methodology
The report provides a detailed analysis of the marine scrubber market, its current and future market trends, market size, and market share. The report also includes a detailed analysis of the competitive landscape, key players, and market strategies. The major dynamics of the market are included in the report such as drivers, restraints, opportunities and challenges. To identify the major marine scrubber market participants, secondary research was conducted, and primary research involved in-depth interviews with key manufacturing leaders and industry experts. SWOT analysis was used to determine the strengths and weaknesses of the marine scrubber key players and PESTLE analysis was employed to understand the potential impact of the micro-economic factors affecting the Marine Scrubber Market. The bottom-up approach was used to estimate the marine scrubber market size.
Marine Scrubber Market Overview
A marine scrubber is an air pollution control device that is used to remove harmful pollutants such as sulfur dioxide and nitrogen oxide from the exhaust gases of marine engines. Marine scrubbers work by spraying seawater or freshwater onto the exhaust gases to neutralize the pollutants. This process is called scrubbing. The scrubbing process can be done using different technologies such as wet scrubbing, dry scrubbing, and hybrid scrubbing.
The growing trend of reducing carbon emission across the world to drive the market growth
Increasing government initiatives, expansion of the shipping industry is the main driving factors for the market growth. Increase in offshore oil and gas activities such as Offshore support vessels, which are used in offshore oil and gas activities, are also a significant application segment for marine scrubbers. The growth in offshore oil and gas activities has led to an increase in the demand for offshore support vessels, driving the growth of the marine scrubber market. The increase in global trade has created the opportunity to an increase in the number of ships and vessels in operation, resulting in a greater demand for marine scrubbers.
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North America is expected to hold the largest Marine Scrubber Market share during the forecast period
North America held the largest market share in 2022 and is expected to grow at the highest CAGR of 19.8 over the forecast period. The regional growth is driven by trends like online shopping and the growth of e-commerce business. The scrubber system has large demand in the pharmaceutical and marine industry to reduce emissions. The implementation of the North American Emissions Control Area (ECA) and the Environmental Protection Agency's Tier III regulations. The region is expected to witness an increase in retrofitting activities in the coming years.
Marine Scrubber Market Segmentation
Based on the Type, the Closed-loop scrubber segment to dominate the Marine Scrubber Market throughout the forecast period
In 2022, Closed-loop scrubber segment held largest global market share and is expected to grow at a significant CAGR during the forecast period. The closed-loop system used for fresh water treated with a chemical, sodium hydroxide instead of seawater as the scrubbing media. It converts the sodium oxide from the exhaust gas system into harmless sodium sulfate. Before the re-circulation, wash water in the closed-loop scrubber system is passed through a process tank where it is cleaned. These factors are expected to drive the segment growth in the market.
Based on the Application, the Container Ships segment accounts the largest share of the Marine Scrubber Market over the forecast period
Based on application, the global marine scrubber market is segmented into commercial vessels and offshore support vessels. Container Ships are the largest application segment, accounting for the majority of the market share. The increasing number of commercial vessels, such as container ships, bulk carriers, and tankers, is driving the demand for marine scrubbers.
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By Type:
• Open-loop Scrubber
• Closed-loop Scrubber
• Hybrid
By Technology:
• Wet Technology
• Dry Technology
By Application:
• Bulk Carriers
• Container Ships
• Oil Tankers
• Chemical Tankers
• Cruises
• Others
by Installation:
• New build
• Retrofit
by Vessel Type:
• Commercial Vessels
o Container Ships
o Bulk Carriers
o Tankers
o Cruise Liners
o Other Commercial Vessels
• Offshore
• Vessels
o FPSO Vessels
o Other Offshore Vessels
• Navy Vessels
by Fuel Type:
• Marine Diesel Oil (MDO)
• Intermediate Fuel Oil (IFO)
• Residual
Marine Scrubber Market’s Key Players include:
• Fuji Electric Co. Ltd.
• Alfa Laval
• Mitsubishi Heavy Industries, Ltd.
• Valmet
• Pacific Green Group
• Wartsila
• KwangSung
• ANDRITZ
• GEA Group Aktiengesellschaft
• Yara International ASA
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Key questions answered in the Marine Scrubber Market are:
- What is Marine Scrubber?
- What was the Marine Scrubber Market Size in 2022?
- What is the expected Marine Scrubber Market size by 2029?
- What is the growth rate of the Marine Scrubber Market?
- What are the key benefits of the Marine Scrubber Market?
- What are the new trends in Marine Scrubber?
- What are the driving, opportunity and restraining factors in the global Marine Scrubber Market?
- Which are the factors expected to drive the Marine Scrubber Market growth?
- Which factors are expected to restrain the Marine Scrubber Market growth?
- Which segment dominated the Marine Scrubber Market growth?
- What is the demand pattern for the Marine Scrubber Market?
- Which region held the largest share of the Marine Scrubber Market?
- Who are the key players in the Marine Scrubber Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Type, Technology, Application, Installation, Vessel Type, Fuel Type and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is a leading Energy & Power research firm that has also published the following reports:
Scrubber System Market: The total market size was valued at USD 1.15 Bn in 2022 and the total revenue is expected to grow at a CAGR of 11.9 percent from 2022 to 2029, reaching USD 2.84 Bn. The increasing increasingly stringent policies is expected to drive market growth.
Wet Scrubber Market: The total market size was valued at USD 1.16 Bn in 2021 and the total revenue is expected to grow at a CAGR of 7.8 percent from 2022 to 2027, reaching USD 1.82 Bn. The increasingly strict air pollution control policies is expected to drive market growth.
Deionized Water Systems Market: The total market size was valued at USD 5.9 Bn in 2021 and the total revenue is expected to grow at a CAGR of 7.4 percent from 2022 to 2027, reaching USD 9.05 Bn. The increasing demand for deionized water for the manufacturing process is expected to drive market growth.
Marine & Marine Management Software Market: The total market size was valued at USD 1.89 Bn in 2022 and the total revenue is expected to grow at a CAGR of 11.3 percent from 2023 to 2029, reaching USD 4 Bn. The increasing adoption of cloud-based technology is expected to drive market growth.
Industrial Floor Scrubbers Market: The total market size was valued at USD 4.27 Bn in 2022 and the total revenue is expected to grow at a CAGR of 5.34 percent from 2023 to 2029, reaching USD 6.15 Bn. The increasing levels of consumer disposable income in developing countries are expected to drive market growth.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic Industries, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified Type estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
