Selbyville, Delaware, Nov. 17, 2020 (GLOBE NEWSWIRE) --
The marine scrubber systems market value is set to cross USD 7 Billion by 2026, as reported in the latest study by Global Market Insights, Inc. Booming seaborne trade on account of thriving ship building industry along with introduction of strict emission reduction norms is set to stimulate the market growth. Favourable government incentives, ongoing investments focused on R&D activities accompanied by technological upgradations are some salient factors augmenting the industry statistics.
Minimal up-front cost, easy installation and low maintenance are some of the major parameters stimulating the adoption of Marine Diesel Oil (MDO) scrubbers. Further, capability to facilitate functioning of internal combustion engines without the need for heating will positively impact the product deployment. Focus on implementation of IMO directives centered at curbing emission levels at sea may affect the market demand. However, the allowance to use MDO in a ship when combined with the scrubber systems with an aim to mitigate the pollutants is set to strengthen the industry landscape.
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Commercial application is anticipated to surpass USD 2 billion by 2026 owing to surging trade growth along with the enhancement in the shipping industry. Increasing retrofitting activities of conventional ships anchored across the shipping yards for deployment of marine scrubber will complement the business scenario. Furthermore, rising living standards, ongoing demographic changes, improving disposable income and shifting public focus toward deployment of sustainable units are some key factors favouring the industry trends.
Some major findings of the marine scrubber systems market report include:
- Rising per capita income coupled with increasing participation in recreational activities comprising long voyage and cruise vacations will stimulate the industry statistics.
- Ongoing retrofitting activities of conventional vessels in compliance with latest industry norms coupled with rapid industrialization primarily across developing nations is anticipated to encourage the product deployment.
- The surging demand for marine scrubbers predominantly across offshore, commercial, navy and recreational sectors owing to increasing ship building activities is set to drive the market trends.
- Major players operating across the marine scrubber systems market are Mitsubishi Heavy Industries, Wärtsilä, Alfa Laval, Damen Shipyards and Yara.
- Hybrid application is projected to witness a substantial growth on account of rising emphasis on environment sustainability and introduction of stringent environmental protection laws and emission standards.
Browse key industry insights spread across 610 pages with 1,071 market data tables & 39 figures & charts from the report, “Marine Scrubber Systems Market Forecats By Technology (Wet Technology {Open Loop, Closed Loop, Hybrid}, Dry Technology), Fuel (MDO, MGO, Hybrid), Application (Commercial {Container Vessels, Tankers, Bulk Carriers, RO-RO}, Offshore {AHTS, PSV, FSV, MPSV}, Recreational {Cruise Ships, Ferries, Yachts}, Navy), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/marine-scrubber-systems-market
Increasing government funding toward establishing the navy security coupled with robust development of progressive shipping line is set to enhance the North American marine scrubber systems market trends. The U.S. government is extensively investing on upgradation of its existing naval shipyard and fleet repair & maintenance thereby augmenting the market landscape.
Eminent industry participants are performing backward integration by engineering the essential components with an aim of maintaining the international quality standards while ensuring economies of scale in order to gain competitive advantage. In addition, increasing FDI flow in consequence of tax inversions, cross-border acquisitions and mergers is set to stimulate the market trends.
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Browse Related Report:
Marine Propulsion Systems Industry By Technology (Low Speed, Medium Speed, High Speed), Application (Merchant [Container Vessels, Tankers, Bulk Carriers, Gas Carriers, Roll On/Roll Off], Offshore [Drilling Rigs & Ships, Anchor Handling Vessels, Offshore Support Vessels, Floating Production Units, Platform Supply Vessels], Cruise & Ferry [Cruise Vessels, Passenger Ferries, Passenger Cargo Vessels], Navy), Product (Diesel, Wind & Solar, Gas Turbine, Fuel Cell, Steam Turbine, Natural Gas), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026
https://www.gminsights.com/industry-analysis/marine-propulsion-systems-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.