Scrubber System Market Emerging Trend and Technology Research by Major Applications, Types Trends to Build Growth at a 12.82% CAGR from 2018 to 2023

Posted February 11, 2019 by almiracoyne

Scrubber System Market by Type (Wet (Design), Dry (Sorbent Mixing)), End-User (Marine, Oil & Gas, Petrochemicals & Chemicals, Pharmaceuticals, Glass, Pulp & Paper, Food & Agricultural, Wastewater Treatment), and Region

According to the new market research report "Scrubber System Market by Type (Wet (Design), Dry (Sorbent Mixing)), End-User (Marine, Oil & Gas, Petrochemicals & Chemicals, Pharmaceuticals, Glass, Pulp & Paper, Food & Agricultural, Wastewater Treatment), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the Global scrubber system market is projected to reach USD 1.86 billion by 2023, growing at a CAGR of 12.82%, from an estimated USD 1.02 billion in 2018. The growth of scrubber system market is majorly driven by the the growing stringent environmental regulations to reduce atmospheric emissions.

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Europe is expected to be the fastest growing market for scrubber system from 2018 to 2023. The IMO has set a global limit for sulfur in fuel oil used on board ships of 0.50% m/m (mass by mass) from 1 January 2020, which means that shipping companies are liable to take measures to mitigate sulfur oxide emissions generated by their ships. Additionally, the objective of Europe’s proposed 20-20-20 target is 20% increase in energy efficiency, 20% reduction of CO2 emissions, and 20% of the region’s energy from renewables by 2020. All these factors are expected to boost the scrubber system market in the European region.

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The market in Norway is expected to be the fastest in Europe for scrubber system, during the forecast period. According to the IEA, investments in transportation capacity might be necessary to promote exploration of new gas reserves from the Barents Sea and to allow Norway to maintain its position as a major gas supplier to Europe. The chemicals and petrochemicals industry accounts for around 80% of gas consumption, according to the data from IEA’s Norway 2017 Review. The country has set an ambitious target to reduce greenhouse gas (GHG) emissions by 40% of 1990 levels by 2030, thereby, possibly promoting the adoption of scrubber systems in oil & gas, petrochemical, and chemical industries. All these factors are expected to influence scrubber system market in the country.

The report segments the scrubber system market, by type, into wet, and dry scrubber systems. The wet scrubbers segment is further sub-segmented into packed bed scrubber, spray scrubber, and venturi scrubber. The wet scrubber segment is expected to grow at the highest CAGR during the forecast period. Wet scrubbers are quite sturdy and can tolerate a wide range of temperatures, making them ideal for operation in almost any environment. These types of scrubbers can remove both gases and particulate matter in a single system. The soaring demand for such efficient scrubbers is from the shipping industry, to abide by new exhaust gas emission regulations is the factor driving the wet scrubber market.

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The scrubber system market, by end-user, is segmented into marine, oil & gas, petrochemicals & chemicals, pharmaceuticals, glass, and others. The others include pulp & paper, food & agricultural, wastewater treatment, and mining & metallurgy. The marine end-user segment is expected to grow at the highest rate during the forecasted period. With the IMO’s global sulfur cap of 0.5% on marine fuels starting from January 1, 2020, stringent regulations regarding shipping emissions are expected in the near future. Thus, the demand for exhaust gas cleaning technology, such as SOx scrubber, is expected to increase rapidly within the segment.

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Issued By MarketsandMarkets™ INC.
Country United States
Categories Energy , Industry
Tags global scrubber system market 2018 , scrubber system market
Last Updated February 11, 2019