October 4, 2018 - 11:12 AM EDT
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Global Marine Scrubber Market 2018-2022| Key Insights and Analysis| Technavio

LONDON

Technavio analysts forecast the global marine scrubber market to grow at a CAGR of nearly 52% during the forecast period, according to their latest market research report. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.

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Technavio has published a new market research report on the global marine scrubber market for the pe ...

Technavio has published a new market research report on the global marine scrubber market for the period 2018-2022. (Graphic: Business Wire)

The growing popularity of LNG fuel is one of the major trends being witnessed in the global marine scrubber market 2018-2022. LNG has emerged as a promising alternative in the marine industry, as it is odorless, non-toxic, non-corrosive, and most importantly, reduces emissions of GHGs. LNG evaporates quickly when exposed to air, without leaving any residue. Like oil-based fuels, LNG has been establishing itself as the main fuel type for ocean-going vessels.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

According to Technavio analysts, one of the key factors contributing to the growth of the global marine scrubber market is the compliance with MARPOL regulations:

Global marine scrubber market: Compliance with MARPOL regulations

With more ships sailing each day to different parts of the world, air pollution caused by them is becoming one of the major environmental problems, as these emissions lead to the formation of greenhouse gases and global warming, which directly contributes to the depletion of the ozone layers in the atmosphere. NOx and SOx are the two main pollutants from ships. These pollutants are the result of fuel combustion and are released in the form of smoke. Thus, to address this issue, the MARPOL Convention was adopted by the International Maritime Organization. The convention includes regulations that are aimed at preventing and minimizing pollution from ships, from both unintentional and routine operations.

According to a senior analyst at Technavio for research on power, “Ships need to either use LSFO or alternative fuels such as LNG or they can install marine scrubbers that will allow the ships to still use HSFO fuels in order to comply with the emission standards. This has resulted in the increased adoption of marine scrubbers in recent years, both as retrofits in old ships and as new installations in newer vessels. The main reason for the installation of marine scrubbers is that they do not require too many changes to be made to the engines of the ships.”

Global marine scrubber market: Segmentation analysis

The global marine scrubber market research report provides market segmentation by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

APAC led the market in 2017 with a market share of nearly 40%. This region is expected to dominate the market through 2022, with an increase in its market share by nearly 1%.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
www.technavio.com


Source: Business Wire (October 4, 2018 - 11:12 AM EDT)

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