WASHINGTON, Aug. 14, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the global scrubber system market finds that increasing stringent environmental regulations is expediting market growth. Primarily driven by rapid industrialization, the total global Scrubber System Market is estimated to reach USD 3.65 billion by 2028, up from USD 1.33 billion in 2020, at a compound annual growth rate (CAGR) of 13.4%.
Furthermore, the upgrading stringent NOx regulations is also anticipated to augment the growth of the global scrubber system market, states Vantage Market Research, in a report, titled “Scrubber System Market by Type (Wet Scrubber System, and Dry Scrubber System), by End-user (Marine, Oil & Gas, Petrochemicals & Chemicals, Pharmaceuticals, Glass, and Others), and by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).”
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Key Insights & Findings from the Report:
According to our primary respondents’ research, the Scrubber System market is predicted to grow at a CAGR of roughly 13.4% during the forecast period.
The Scrubber System market was estimated to be worth roughly USD 1.33 Billion in 2020 and is expected to reach USD 3.65 Billion by 2028; based on primary research.
On the basis of region, Asia Pacific is projected to dominate the worldwide Scrubber System market.
Stringent Environmental Regulations to Reduce Atmospheric Emissions to Fuel Global Scrubber System Market
Scrubber systems are air pollution control devices used to remove few particulates and gases from industrial exhaust streams. The increasing stringent environmental standards and norms by regulatory organization to reduce the harmful emissions in atmosphere are anticipated to augment the growth of the global scrubber system market during the forecast period. For instance, the implementation of National Ambient Air Quality Standards, which was established by the United States Environmental Protection Agency (EPA) under authority of the Clean Air Act is applied for outdoor air throughout the country. This act is set for six major air pollutants that are ozone (O3), atmospheric particulate matter, lead, carbon monoxide (CO), sulfur oxides (SOx), and nitrogen oxides (NOx). Owing to the increasing air pollution due to industrialization the demand for scrubber system market is expected to grow in near future.
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Rising Demand for Scrubber Systems from Marine Industry to Stimulate the Market Growth
Scrubbers are used widely in various vessels across the globe such as container ships, ferries, Very Large Crude Carriers (VLCCs), Roll-On/Roll-Off (RO-RO), and cruise ships. These vessels emit sulphur oxide (SOx) and nitrogen oxides (NOx) in huge quantities. Scrubber systems help in gas absorption and dust collection in a single unit complying with MARPOL regulations. MARPOL Annex VI regulation restricts the major air pollutants like sulphur oxides (SOx) and nitrous oxides (NOx) contained in ships and forbids emissions of ozone depleting substances (ODS) in the atmosphere. Furthermore, the implementation of regulations by The International Maritime Organization (IMO) which states that the sulphur content in fuels, which is carried by merchant vessels, has to be limited to 0.50% globally and 0.10 % m/m in ECAs is also expected to fuel the growth of the market in the years to come.
This market titled “Scrubber System Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:
2022 – 2028
Market Size in 2021
USD 1.33 Billion
Market Size in 2028
USD 3.65 Billion
Type: - Wet Scrubber System, and Dry Scrubber System
Quantitative Data - Units
Revenue in USD Million/Billion and CAGR from 2021 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered
10 companies with scope for including additional 15 companies upon request
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the scrubber system industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
Impact Assessment of COVID-19 Pandemic
Middle East & Africa
Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
Key Strategies Undertaken by Companies to Tackle COVID-19
Long Term Dynamics
Short Term Dynamics
The report on Scrubber System Market highlights:
Assessment of the market
COVID Impact Analysis
Historic Data, Estimates and Forecast
Global and Regional Dynamics
Browse market data Tables and Figures spread through Pages and in-depth TOC on "Scrubber System Market by Type (Wet Scrubber System, and Dry Scrubber System), by End-user ((Marine, Oil & Gas, Petrochemicals & Chemicals, Pharmaceuticals, Glass, and Others), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
Europe Dominates the Global Scrubber System Market
Europe has dominated the global Scrubber System Market with 48.69% of the share of the total market in 2020 and is likely to continue the same trend during the forecast period. This is attributable to the initiatives and implementation of regulations of carbon emissions across the region. Furthermore, EU implemented a strategy to reduce total annual GHG emissions from shipping by at least 50% by 2050 compared to previous levels and phase them out as soon as possible.
North America and Asia Pacific are also likely to witness substantial growth in the scrubber system market during the forecast period. This is attributable to the increase in supportive government measures and initiatives in the region. Additionally, the increasing industrialization and technological advancements are also expected to support the growth of the scrubber system market in near future.
List of Prominent Players in the Scrubber System Market:
Worthing, United Kingdom
Texas, United States
Delaware, United States
Pittsburgh, United States
Hitachi Zosen Inova
Key questions answered in the report:
Which regional market will show the highest and rapid growth?
Which are the top five players of the Scrubber System Market?
How will the Scrubber System Market change in the upcoming six years?
Which application and product will take a lion’s share of the Scrubber System Market?
What is the Scrubber System market drivers and restrictions?
What will be the CAGR and size of the Scrubber System Market throughout the forecast period?
November, 2021: Wärtsilä announced the launch of its new IQ Series exhaust gas treatment system, designed by its Exhaust Treatment business unit in Moss, Norway. The IQ Series is the latest advancement in maritime exhaust gas treatment technologies, and uses an innovative design that allows the exhaust gas cleaning results to be achieved within a smaller footprint.
June, 2020: Alfa Laval announced the launch of new PureSOx Express that offers easy access to SOx scrubber advantages even for smaller vessels complying with SOx regulations.
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