February 27, 2020
According to a recent study titled ‘Asia Pacific Marine Scrubber Systems Market Size By Fuel, Application, Technology, Industry Analysis Report, Country Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, Asia Pacific marine scrubber systems market is projected to cross USD 5 billion by the year 2026.
Growing awareness towards pollution in tandem with increasing sulfur emissions from ships is driving the growth of Asia Pacific marine scrubber systems market. Government initiatives coupled with increasing research & development activities for sulfur abatement technologies are positively impacting the market outlook. Additionally, increasing maritime transportation and expansion of seaborne trade will foster the market growth over the forecast period.
Speaking of the application scope, Asia Pacific marine scrubber systems market is segmented into commercial, offshore, recreational, navy, and others. Commercial market segment is expected to account for a significant share of Asia Pacific marine scrubber systems market during the estimated timeframe, owing to rapid industrialization in emerging economies. Furthermore, developments in the shipping industry along with significant trade growth have led to the adoption of highly efficient sustainable units which will expand segmental revenues.
Elaborating on the technology, Asia Pacific marine scrubber systems market is bifurcated into wet technology and dry technology. Wet technology is further segmented into open loop, closed loop, hybrid, and others. Hybrid technology is anticipated to see substantial growth over the estimated timeframe, owing to its several benefits including low energy consumption, cost efficiency, and high flexibility. Increasing need to comply with ECA regulations and growing inclination towards clean scrubbing process is propelling the segmental growth. Moreover, the ability of the systems to operate in varying water alkalinity levels will enhance the product adoption.
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As per the regional analysis, Asia Pacific marine scrubber systems market is divided into Australia, India, China, Indonesia, Japan, Singapore, Thailand, and South Korea. Australia marine scrubber systems market is anticipated to gain modest traction during 2020-2026, on account of shift towards green shipping coupled with the high adoption of sustainable units across the nation. Strict mandates regarding emission controls in both inside and out of sulfur emission control areas (SECAs) is further augmenting the regional business landscape.
Prominent players of Asia Pacific marine scrubber systems market are CR Ocean Engineering, SAACKE, Alfa Laval, Clean Marine, Wärtsilä, Fuji Electric, Shanghai Bluesoul, Yara International, Valmet, Hamon-Research-Cottrell, VDL AEC, and Mitsubishi Heavy Industries among others.