ASEAN Marine Scrubber Systems market share is anticipated to grow on account of increasing sulfur emissions from ships along with rising environment safety concerns. In addition, introduction of stringent regulatory norms & directives focused at minimizing marine pollution by fuel & other toxic constituents will complement the business scenario. Moreover, ongoing technological advancements to deploy exhaust gas cleaning systems and efficient scrubber technology will thrust the industry scenario.
Wet marine scrubber market size is set to observe growth on account of long-term operational adaptability along with enhanced product life span. Hybrid technology will develop at a high rate attributable to more prominent adaptability and movability relating to open and close loop cycles. Furthermore, decreasing energy utilization and increased productivity will drive the dry scrubbers demand.
Hybrid fuel market will observe substantial growth owing to rising concerns toward the environmental protection in collaboration with the IMO standards. In addition, rising demand to meet the new ECAs guidelines has urged the sea transport organizations to develop new product advancements. The heightened usage of the fuel by transport providers, explicitly in Special Economic Zones (SEZs) will further stimulate the interest in hybrid scrubbers.
Quick ascent in shipbuilding exercises fundamentally across Singapore, Indonesia, and Vietnam will further stimulate the product deployment. Expanding discharge of sulfur oxide and its impact on the climate followed by severity in enactments to minimize the oceanic contamination will enhance the industry landscape. Availability of public and private investments with an aim to enhance the advanced shipping line for national security as well as compliant carriage containers will propel the deployment of marine scrubbers.
Product improvement, continuous R&D advancements and coalitions to follow the universally acknowledged standards and regulations will drive the industry development. Leading manufacturers are effectively contributing in M&As with territorial and worldwide sellers for generating right set of circumstances. Thriving shipping sector owing to robust sea routes development along with rising demand to retrofit existing vessels will further stimulate the marine scrubber systems market.
Global economy is at a standstill owing to COVID - 19 and its unprecedented effect may impact the shipping and trade companies. Governments as well as numerous businesses will contribute to overcome this pandemic with increasing funding across the export and import sectors.
Major companies are moving towards innovations to sustain a significant place in the area of marine scrubber market. Players in the market are aiming for joint ventures in order to sustain their market share. The eminent players operating across the market include like Wartsila, Damen Shipyards, Yara International, Mitsubishi Heavy industries ltd, Fuji Electric, Clean Marine, Valmet, DuPont among others.