GAS SCRUBBING SYSTEMS MARKET REPORT OVERVIEW
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The global Gas Scrubbing Systems market size expanded rapidly in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the Gas Scrubbing Systems market experiencing higher-than-anticipated/lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to generate substantial revenue by 2028, a robust CAGR during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
A type of waste gas treatment equipment called a gas scrubber is used to filter contaminants out of industrial exhaust gases. It is a technique that effectively lowers hazardous gas emissions. The main end-users of these systems include the chemical, oil & gas, and maritime industries. Scrubber systems are a common type of air pollution control equipment that are used to filter certain gases and particles from industrial exhausts. Scrubbers are one of the most widely utilised pollution control technologies due to their effectiveness in reducing gaseous pollutants, particularly acidic ones. The two most common types of scrubber systems on the market are dry systems and wet systems. To get rid of acidic gases, these systems inject a slurry or dry reagent into a contaminated exhaust stream. Flue-gas condensation can be carried out by scrubber systems to recover heat.
Due to the increase in demand for goods like food and beverage, oil and gas, and pharmaceuticals, the worldwide manufacturing and processing business is expanding significantly. The expansion of manufacturing facilities causes a variety of pollutants and dust particles to be released. As a result, there is a demand for the adoption of pollution control technologies such scrubber systems. Scrubber systems are available in a broad range of specifications and sizes, making them appropriate for usage in a number of industries. This is expected to increase the market potential for scrubber systems in the manufacturing, oil & gas, and food processing sectors.
COVID-19 Impact: COVID-19 Pandemic Heavily Influenced Market Growth
In 2019, the new coronavirus (COVID-19) spread quickly throughout many nations and regions, having a significant negative effect on both individual lives and the community as a whole. It started off as a human health issue and is now a serious danger to international trade, the economy, and the financial system. Due to lockdowns brought on by the COVID-19 epidemic, manufacture of numerous items in the scrubber system market was suspended. In addition, with the release of the COVID-19 vaccine on the market, fewer incidences of the disease are anticipated in the future. As a result, the scrubber system industry has resumed operations at full capacity. By the end of 2022, this is anticipated to aid in the market's recovery. The temporary halting of industrial operations in the chemical, oil & gas, and maritime industries has had some effect on gas scrubber demand internationally. Marine activities significantly decreased as a result of the many limitations put in place by governments to stop the coronavirus's spread, especially in the early months of the epidemic. Concerns about the supply chain, logistics, and the labour shortage are further effects.
Latest Trends
"Global Scrubber System Market Is Driven By Strict Environmental Laws To Minimize Atmospheric Emissions"
Scrubber systems are equipment for reducing air pollution that are used to filter gases and particles out of industrial exhaust streams. Throughout the forecast period, it is predicted that the adoption of more strict environmental rules and norms by regulatory bodies to lower hazardous emissions in the atmosphere would accelerate market growth for scrubber systems globally. For instance, the United States Environmental Protection Agency (EPA) created National Ambient Air Quality Standards, which are implemented nationwide for outdoor air under the authority of the Clean Air Act. Ozone (O3), atmospheric particulate matter, lead, carbon monoxide (CO), sulphur oxides (SOx), and nitrogen oxides are the six principal air pollutants that are covered by this legislation (NOx). The need for scrubber systems is anticipated to increase in the near future as a result of the rising air pollution brought on by development.
GAS SCRUBBING SYSTEMS MARKET SEGMENTATION
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- By Type Analysis
According to type, the market can be segmented into Autonomous Underwater Vehicles, Unmanned Surface Vehicle, Underwater Gliders, Other. Autonomous Underwater Vehicles is anticipated to be the leading segment.
- By Application Analysis
Based on application, the market can be divided into Defense, Scientific Research, and Commercial. Defense will be the dominating segment.
Driving Factors
"Marine Industry's Growing Need For Scrubber Systems To Fuel Market Growth"
Scrubbers are commonly utilised in a variety of vessels across the world, including cruise ships, ferries, Very Large Crude Carriers (VLCCs), and container ships. These vessels produce significant amounts of nitrogen oxide (NOx) and sulphur oxide (SOx). Scrubber systems support MARPOL requirements by combining dust collection and gas absorption into a single device. Major air pollutants including sulphur oxides (SOx) and nitrous oxides (NOx) that are present in ships are restricted by MARPOL Annex VI regulation, and ozone-depleting substance (ODS) emissions are prohibited. The International Maritime Organization (IMO) regulations, which mandate that the sulphur content in fuels carried by commercial boats must be limited to 0.50% m/m globally and 0.10% m/m in ECAs, are also anticipated to fuel the market's expansion in the years to come.
Restraining Factors
"Incredibly Pricey To Install And Maintain"
The market's expansion is significantly constrained by the high initial cost of these systems. It is anticipated that the expansion of the market under study would be constrained by the closure of coal-fired power facilities in important nations throughout the globe and the rising proportion of renewable energy sources in the power generating mix.
GAS SCRUBBING SYSTEMS MARKET REGIONAL INSIGHTS
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"Europe Dominates The World Market For Scrubber Systems"
With a market share of 48.69% in 2020, Europe led the Scrubber System market globally, and it's expected that this dominance will hold during the projected period. This is due to regional efforts to reduce carbon emissions and the implementation of those policies. Also, the EU adopted a policy to phase out all yearly GHG emissions from shipping as soon as feasible and cut them by at least 50% by 2050 compared to current levels.
Throughout the anticipated time, it is also probable that the scrubber system market will expand significantly in North America and Asia Pacific. This is due to the expansion of encouraging government programmes and efforts in the area. Also, the market for scrubber systems is anticipated to rise in the near future due to rising industrialisation and technological advances.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Kongsberg Maritime (Norway)
- Teledyne Technologies (U.S.)
- International Submarine Engineering (Canada)
- L3 Technologies (U.S.)
- Saab Seaeye (U.K.)
- Bluefin Robotics (U.S.)
- Atlas Elektronik (Germany)
- Eca Group (France)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
Frequently Asked Questions
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What are the key factors driving the Gas Scrubbing Systems market?
Marine industrys growing need for Gas Scrubbing Systems market growth.
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What is the leading region in the Gas Scrubbing Systems market?
Europe is the leading region in the Gas Scrubbing Systems market.
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What are the key players in the Gas Scrubbing Systems market?
Kongsberg Maritime, Teledyne Technologies, International Submarine Engineering, L3 Technologies, Saab Seaeye, Bluefin Robotics, Atlas Elektronik, Eca Group are the key players in the Gas Scrubbing Systems market.
