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REPORT SAYS SCRUBBERS WILL CONTINUE MARKET GROWTH

Thursday, July 18, 2019 

A report issued by Dublin-based consultancy Fact.MR says that the marine scrubber systems market is expected to continue its steady growth on account of their growing installation and retrofitting on marine engines exhaust systems and boilers on ships.

The growth is attributed to the advantages of marine scrubber systems in alleviating harmful sulphur dioxide gas content (SOx) emissions. The worldwide marine scrubber systems market is anticipated to register 20.4% CAGR in terms of value between 2018 and 2028.

According to the report, ship operators and owners are increasingly adopting scrubber systems to comply IMO sulphur limitations, initaially in ECAs and imminently on a global basis.

Amid the growing sulphur related regulations, ship operators and owners are propelled to adopt either marine fuels containing low sulphur content, or retrofit or install marine scrubber systems for the treatment of toxic emissions caused by densely used fuel oil with high sulphur content. The report on marine scrubber systems market opines that extensive difference between the pricing of affordable fuel oil with high sulphur content and expensive fuel oils containing negligible sulphur content has been prompting ship operators and owners to retrofit scrubber systems. A considerable number of ship owners are retrofitting their vessels to comply with the 2020 deadline, while using high sulphur fuel oil.

However, the new-build application segment is also likely to witness comparatively fast growth as many fleet owners with new ship constructions on order are choosing to install scrubber systems on their vessels, which costs less as compared to retrofits that may be required later. According to the report, retrofit segment is likely to create opportunity valued at US$ 6.8 billion during the foreseeable period, on back of the boost gained by tight timelines ahead of impending regulations deadline.

Wet scrubber systems are likely to remain dominant in marine systems by accounting for a healthy market share. The report estimates that it will account for over 90% share of the total absolute dollar opportunity in marine scrubber systems market by 2028-end. Ship operators and owners have been adopting open loop wet marine scrubber systems, however, as per the report marine scrubber systems market for the hybrid variants is also likely to witness comparatively healthy growth.

The report on marine scrubber systems market envisaged that based on market value, the worldwide marine scrubber systems market is envisaged to value over US$11 bn during 2018-2028

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