Marine scrubber systems market share over 2018-2024 to be pushed by rising demand for mitigating SOx emissions
Date: 2018-08-10   Author: Sunil Hebbalkar  Category: #market

The rising concerns among the regulatory bodies regarding environmental safety will reportedly drive marine scrubber systems market over 2018-2024, given the robust need to reduce Sulphur oxide emissions. Rising number of initiatives toward green shipping is also expected to propel the regional industry growth.

Five trends prevalent in marine scrubber systems market:

  • As per estimates, wet marine scrubber systems industry is poised to register an annual growth rate of more than 40% over 2018-2024. The ability of the system to work in varying water alkalinities along with long-term operational flexibility are likely to augment the product demand.
  • In 2017, MDO marine scrubber systems market size was pegged at USD 500 million. The implementation of strict regulatory norms to control SOx emissions will impel the segment growth, claim reports.
  • Reliable sources state that commercial applications will cover more than 30% of the overall marine scrubber systems industry share by the end of 2024. The prevalence of rapid industrialization across the emerging economies will help propel the market expansion.
  • Marine scrubber systems industry share from recreational applications will register a commendable CAGR over the ensuing years, owing to the surging investments in the development of tourism infrastructure along with increased spending capability. The rise in the requirement of cruise ships for luxury and comfort is also slated to boost the market share over 2018-2024.
  • Regionally, U.S. marine scrubber systems market size will cross 300 units by the end of 2024, driven by the fact that industry top shots have been extensively involved in research and development activities to manufacture suitable technology.

The competitive hierarchy of marine scrubber systems market is reportedly inclusive of a plethora of companies such as CR Ocean Engineering, Wärtsilä, Clean Marine, Alfa Laval, DuPont, AEC Maritime, Mitsubishi, Johnson Matthey, Yara Marine, Scheuch Gmbh, SCL International, BlueSoul Environmental Technologies Co. Ltd., Fuji Electric, and Ecospray Technologies.

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Sunil Hebbalkar

Sunil Hebbalkar

Sunil currently works as an content writer at AlgosOnline. A Post graduate mechanical design engineer by qualification, he worked as an intern at the defense lab for one year in the engine design and development department before switching his professional genre. Foll...

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