The global scrubber system market is estimated at USD 1.02 billion in 2018 and is projected to grow at a CAGR of 12.82% to reach USD 1.86 billion by 2023. The global market is likely to grow significantly due to growing stringent environmental regulations to reduce atmospheric emissions. The prominent players in the scrubber system market include DuPont (US), Alfa Laval (Sweden), Yara Marine (Norway), Wärtsilä (Finland), and B&W (US).
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“The scrubber system market is projected to grow at a CAGR of 12.82%, from 2018 to 2023”
The global scrubber system market is estimated at USD 1.02 billion in 2018 and is projected to grow at a CAGR of 12.82% to reach USD 1.86 billion by 2023. The global market is likely to grow significantly due to growing stringent environmental regulations to reduce atmospheric emissions.
Although restraints like stringent legislations against disposal of contaminated effluents from scrubber systems are being observed, International Maritime Organization's (IMO) 2020 global sulphur capis expected to create better opportunities for the scrubber system mar ket. Contamination from heavy metals found in scrubber wash water is expected to be a major challenge for the growth in the scrubber system market.
Some of the prominent players in the scrubber system market include DuPont (US), Alfa Laval (Sweden), Yara Marine (Norway), Wärtsilä (Finland), and B&W (US).
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Market Overview –
2 Market Dynamics
3.1 Growing Stringent Environmental Regulations to Reduce Atmospheric Emissions
4.1 Stringent Legislations Against Disposal of Contaminated Effluents From Scrubber Systems
5.1 International Maritime Organization's (Imo) 2020 Global Sulfur Cap
5.2 More Stringent Nox Regulations in Europe
6.1 Contamination From Heavy Metals Found in Scrubber Washwater
6.2 New Fuel Options Such as Vlsfo (Very Low Sulfur Fuel Oil)
“The wet scrubber system segment is expected to have the highest growth during the forecast period”
With regards to the type segment, the wet scrubber system segment is expected to constitute the largest and fastest growing market. Wet scrubbers are quite sturdy and can tolerate a wide range of temperatures, making them ideal for operation in almost any environment.
These types of scrubbers can remove both gases and particulate matter in a single system. The soaring demand for such efficient scrubbers from the shipping industry to abide by new exhaust gas emission regulations is the factor driving the wet scrubber market.
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“Europe: The fastest growing market for scrubber system”
Europe is expected to be the fastest growing market for scrubber systems from 2018 to 2023. The IMO has set a global sulphur limit of 0.50% for fuel oil used aboard on ships from January 2020.
Considering that presently, the English Channel, the North Sea, and the Baltic Sea collectively come under the SECA regulations, all the shipping companies which operate in these waters are expected to take serious actions for the abatement of sulphur oxide emissions generated by their ships. Meanwhile, as a part of its 2020 climate and energy targets, the European region has been successfully moving ahead to achieve a 20% reduction in greenhouse gas emissions as compared with the 1990 levels.
All these factors are expected to boost the scrubber system market in the European region.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier 1- 60%, Tier 2- 27%, Tier 3- 13%
- By Designation: C–Level- 35%, Director Level- 25%, Others- 40%
- By Region: Europe- 60%, Asia Pacific-30%, North America-8%, Middle East & Africa-2%
Notes: Others include engineers, project managers, product managers, marketing managers, and sales managers.
The tier for the company has been defined on the basis of its total revenue as of 2016: Tier I: >USD 5 billion, Tier II: from USD 1 billion to USD 5 billion, and Tier III: < USD 1 billion.
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The report defines, describes, and forecasts the global scrubber system market by type, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market.
The report provides a comprehensive review of the major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues. It also covers various important aspects of the market.