Global Scrubber System Market to Reach USD 3.65 Billion by

2022-08-19 22:43:17 By : Ms. Susan Chen

August 14, 2022 23:46 ET | Source: Vantage Market Research Vantage Market Research

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:

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:

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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:

The report on Scrubber System Market highlights:

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:

Key questions answered in the report:

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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