The global marine scrubber market size accounted for USD 3,558 Million in 2021 and is estimated to achieve a market size of USD 16,382 Million by 2030, growing 18.8% from 2022 to 2030, says Acumen Research and Consulting.
COVID-19 impact
According to Acumen Research and Consulting, as a result of the coronavirus pandemic, ship owners are delaying or canceling the installation of marine scrubbers.
Now, scrubbers may become less of an opportunity for ship owners to comply with regulations as a result of the industry financial squeeze created by a drop in demand for freight services as a result of the COVID-19 crisis.
Scrubber market dynamics
Growing environmental concerns along with improving government regulations are driving the marine scrubber market share. The increasing focus on workers’ safety is another factor that is driving the industry’s growth.
The rising demand for marine scrubbers in bulk containers and /chemical vessels expands the market share. However, the high installation cost of these systems and the requirement of significant onboard storage to handle reactants are some of the factors that are restricting the market growth.
Scrubber market segmentation
According to Acumen, currently the global market has been split into five categories: technology, fuel type, vessel type, application, and region.
The technology sector is bifurcated into wet technology and dry technology. The wet technology segment is further categorized into closed-loop, hybrid, and open loop. Among them, hybrid technology is expected to gain significant traction in the coming years owing to its several advantages as compared to open loop and closed loop technologies.
By fuel type, the segmentation includes MDO, MGO, LNG, and hybrid. Based on Acumen’s marine scrubber industry analysis, the MGO fuel type is likely to register a rapid growth due to its ability to produce comparatively less quality sulphur emissions in the atmosphere.
As for vessels, iIn 2021, commercial vessels generate maximum marine scrubber market revenue owing to the growing international trade; however, the recreational and offshore vessels are expanding at a rapid growth during the forecasted timeframe from 2022 to 2030.
As per our marine scrubber market forecast, the retrofit application is expected to lead the market with the utmost shares. The high growth in the segment is credited to the immediate mandatory installation of marine scrubbers, and the requirement of less expenditure to install on existing structures as compared to new build applications
