A new market study, titled “Global Scrubber System Market Size, Status and Forecast 2020-2023” has been featured on Market Research Future.
The global scrubber system market is expecting a 12.3% CAGR during the forecast period (2018-2023) to climb a valuation of USD 1.7 billion by 2023, asserts Market Research Future (MRFR) in an extensively studied report. The report has under its purview a detailed segmental analysis and factors that can change the market scenario in the coming years. Factors such as stringent government policies regarding environment and growth in seaborne trade can see the scrubber system market score big in the coming years.
Over the past few years, the global scrubber system market has been growing continually, mainly due to the stringent government policies to control air pollution. Moreover, usages of the scrubber system are increasing rapidly in the shipping industry that has a strict regulation against gaseous emissions and is witnessing an uptick in maritime transport and seaborne trade. This, as a result, escalates the market on the global platform.
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The Global Scrubber System Market can be segmented by type, orientation, application, and end-user industry.
Type-wise segmentation of the scrubber system market consists wet scrubber system and dry scrubber system. Dry scrubber system is leading the market. Meanwhile, the wet scrubber system can register the fastest CAGR during the review period.
Orientation-based segmentation of the scrubber system market includes vertical and horizontal. The horizontal segment is the current bellwether. Vertical segment to grow at a higher speed during the forecast period.
Based on application, the scrubber system market comprises onshore and offshore. The offshore segment is setting the trails for the market. Onshore segment is expected to grow with the fastest CAGR during the forecast period.
Based on end-user industries, the scrubber system market can be segmented into oil & gas, automotive, food & beverages, and chemical. Oil & gas is both the leading segment and the fastest growing segment.
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Europe dominates the global scrubber system market, holding the largest share. Stringent regulations in the region against the increasing pollution levels are compelling a number of industries to implement scrubber systems in their production. Moreover, increasing uptake of scrubber system in various burgeoning industries such as O&G, F&B, chemicals, and automotive positively impacts the growth in the regional market.
North America is another lucrative market for the scrubber system, globally. Increasing exploration activities in the USA and Canada are growing the market value, creating huge demand for scrubber system. Recent discoveries of large oil and gas reservoirs are fostering the growth of the regional market. Furthermore, the adoption of global policies of maintaining safe ecological standards increases sales in the market.
Middle East is the biggest oil and gas exporter and is further planning to expand their O&G production infrastructure. The region has well-established hydrocarbon reserves, and more investments are made to explore potential new reserves.
The Asia Pacific scrubber system market is emerging as a promising market globally. Due to the rapidly growing industries such as automotive, food & beverages, and chemicals, the region is expected to show substantial growth. The drastic shift towards the increasing eco-awareness and environment protection is substantiating the growth of the regional market. China and South Korea are lucrative markets attracting market titans.
Players leading the scrubber system market include Nederman Mikropul, Alfa Laval, Wärtsilä, Yara Marine, Alfa Laval, DuPont, Evoqua, CECO, Verantis, Croll Reynold, Fuji Electric, Fabritech Engineers, and Beltran Technologies, among others.
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