BUSINESS: The Worldwide Scrubber Systems Industry Is Expected To Reach $2.9 Billion By 2028 – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Scrubber Systems Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Technology (Wet Technology and Dry Technology) and Industry Verticals (Marine, Oil and Gas, Petrochemicals and Chemicals, Food and Agricultural, Wastewater Treatment, Healthcare, and Others)” report has been added to ResearchAndMarkets.com’s offering.

The scrubber system market was valued at US$ 1,316.0 million in 2021 and is projected to reach US$ 2,989.2 million by 2028; it is expected to grow at a CAGR of 12.4% from 2021 to 2028. Rapid urbanization is driving the need for scrubber systems. Cement, steel, ceramic, and glass are all in high demand due to the growing urbanization. These industries are major users of scrubber systems as they need to reduce particulate and harmful gases during production.

However, the COVID-19 pandemic severely affected the market due to the shutdown of the global economy and the subsequent closure of major manufacturing plants during the first two quarters of 2020. Continuous growth in the number of COVID-19 confirmed patients compelled governments and other authorities to impose complete and partial restrictions on passenger and cargo ships, respectively, further disrupting the demand for scrubber systems. These conditions hampered the overall business of market players in scrubber systems.

The sudden outbreak of COVID-19 has witnessed significant negative impact of COVID-19 in their demand for the scrubber systems industry in the wake of the global pandemic. In August 2020, Yara Marine Technologies-one of the leading players for marine scrubbers-has diverted its focus from the market due to COVID-19 and low oil prices. The company’s innovation manager stated that they had high hopes in 2020 for scrubber systems, but COVID-19 changed it all. The market has seen a rise in demand since the third quarter. This is because several governments have introduced strict regulations to ensure clean air. The market is gaining momentum because of the vital role played by air scrubber systems in removing harmful particles from exhaust. The market for scrubber systems is segmented by technology, industry vertical, geography. The market can be divided into dry technology and wet technology based on technology. The market can be divided into oil and gas, petrochemicals, chemicals, food, agriculture, wastewater treatment and healthcare. The global scrubber systems market can be broadly divided geographically into North America (the US and Canada), Mexico, Europe (France and Germany, Italy and the UK, Russia and the Rest of Europe), Asia Pacific, Australia, China, India and South Korea and the Rest of APAC), Middle East & Africa(South Africa, Saudi Arabia and United Arab Emirates and the rest of MEA) and South America (Argentina and Brazil, the Rest of SAM). In 2021, Europe accounted for a significant share in the global market.

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Market Dynamics

Drivers

Stringent Regulations by Various Governments to Curb Air Pollution
Increase in Global Seaborne Trades and Leisure Activities

Restraints

Shutdown of Coal-Fired Power Plants Worldwide

Opportunities

Rapid Industrialization in Developing Economies

Future Trends

Growing Application of SOx Removal Scrubber Technology in Maritime Industry

Companies Mentioned

Babcock & Wilcox Enterprises, Inc
Alfa Laval
DuPont de Nemours, Inc.
FUJI ELECTRIC CO., LTD.
GEA Group AG
Wartsila Corporation
Hamon
Yara Marine Technologies
Verantis Environmental Solutions Group
CECO Environmental

For more information about this report visit https://www.researchandmarkets.com/r/6c1q54

More dWeb.News Business News at https://dweb.news/category/dweb-news/section-b-business-news/

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