Pune, India, November 2018/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Scrubber System Market.
Scrubber system market is ballooning in sync with the growing eco-awareness and undertakings to clean up environmental mess. It has a productive use in industries and ships where pollution control is of utmost importance. 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.
On the downside, the scrubber system market can face a few detractions such as strict norms regarding safety standards and longer duration for approvals. Factors like this can put a leash on the otherwise smooth run expected from the scrubber system market over the forecast period.
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.
Region-specific analysis of the scrubber system market spans across North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
Europe is fetching the maximum amount of revenue for the global scrubber system market. The market feels at home in the region owing to the government initiatives to stall pollutions by implementing strict measures for industries and seaborne activities. This has pushed the end-users in integrating scrubber system in factories and manufacturing units. Ships are also adhering and installing scrubber system to lessen adverse environmental impacts. Regulations of the International Maritime Organization (IMO) has put a cap on Sulphur at 0.5% for all maritime transport which will be in effect from 2020. This can only be solved by introducing low-Sulphur fuels and better scrubber system technology which is a good sign for the market in upcoming years.
North America’s impact on the market is substantial, and with years, it is expected to grow. The region adheres to the global policies of maintaining environmentally safe standards. The APAC region can promise substantial growth, especially when China and South Korea are doing grand. The change is expected to be a drastic one due to the growing ecological awareness.
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The scrubber system market sees potential in strategic steps such as merger, acquisition, collaboration, product launch, and others. These work well both for companies and the market as a whole.
For instance, Alfa Laval, a global leader in heat transfer, centrifugal separation, and fluid handling, has inked a deal in 2018 with NIBE Group that handovers the heat exchanger systems business to the latter.
Nederman Mikropul has taken over Auburn FilterSense LLC in 2018, a prominent name in filter control solutions, to better the market presence of Nederman’s.
In the same year, Wärtsilä bought Transas to improve its stance in the smart marine ecosystem. Transas’ reputation is mainly as a provider of marine navigation solutions that include complete bridge systems, digital products, and electronic charts. Apart from it, they also provide professional training and simulation services, ship traffic control, as well as monitoring, and support. This will help Wärtsilä in creating smart products.
Prominent market influencers involved in the scrubber system market are Alfa Laval, Nederman Mikropul, Wärtsilä, Yara Marine, DuPont, CECO, Evoqua, Verantis, Fuji Electric, Croll Reynold, Fabritech Engineers, Beltran Technologies, and others.