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 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.
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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%.
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Some of the key topics covered in the report include:
Market Landscape
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Market ecosystem
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Market characteristics
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Market segmentation analysis
Market Sizing
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Market definition
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Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Regional comparison
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Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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Vendors covered
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Vendor classification
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Market positioning of vendors
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Competitive scenario
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