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Scrubber System Global Market Report 2024 - By Size, Share, Trends, Demand, Forecast To 2033
Scrubber System Market
As per the report, the scrubber system market size has grown strongly in recent years. It will grow from $3.72 billion in 2023 to $4.01 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The scrubber system market size is expected to see strong growth in the next few years. It will grow to $5.41 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
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Marine Industry Surge Propelling Growth In Scrubber Systems Market
The rising demand for scrubber systems from the marine industry is expected to propel the growth of the scrubber systems markets going forward. The marine industry refers to an industry involving waterborne commerce, such as carrying out tasks onboard commercial, exploration, service, or other vessels moving across the ocean, inland waterways, coastal areas, harbors, and other noncontiguous places. Scrubber systems in marine industries are used to reduce or remove harmful materials and substances from ship-exhausted fumes to make limited toxic releases in the environment. For instance, in October 2022, according to a study conducted by Chalmers University of Technology, a Sweden-based university for science and technology, approximately 4,000 ships, or 16% of all cargo ships, and a third of all cruise ships utilize scrubbers globally today. Therefore, the rising demand for scrubber systems from the marine industry is driving the growth of the scrubber systems market.
Innovative Strides Advancements In Scrubber Systems Market Through Product Innovation
Product innovation is a key trend gaining popularity in the scrubber systems market. Major companies operating in the market are focused on research and development for product innovations to sustain their position in the market. For instance, in November 2021, Wärtsilä Corporation, a Finland-based company specializing in innovative technologies and lifecycle solutions for the marine and energy markets, introduced the IQ Series exhaust gas treatment system, a small scrubber system for container vessels. The IQ Series scrubber can produce the same exhaust gas cleaning results while taking up less space which is 25% smaller, 30% lighter, and 35% smaller in volume. This innovative design allows the same exhaust gas cleaning results to be achieved within a smaller footprint. Furthermore, the IQ series can be added with additional technologies, such as exhaust gas recirculation (EGR) to reduce NOx, a black carbon filter to reduce particulate matter (PM).
The scrubber system market covered in this report is segmented -
1) By Type: Wet Scrubber, Dry Scrubber
2) By Technology: Wet Technology, Dry Technology
3) By Application: Onshore, Offshore
4) By End use: Oil and Gas, Automotive, Food and Beverage, Chemical
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Major companies operating in the scrubber system market report are Alfa Laval AB, Nederman MikroPul LLC, Wärtsilä Corporation, Yara Marine Technologies AS, DuPont de Nemours Inc., CECO Environmental Corp., Evoqua Water Technologies Corp., Verantis Corporation, Fuji Electric Co. Ltd., HAMON Group, Babcock & Wilcox Enterprises Inc., Valmet Oyj, Tri-Mer Corporation, GEA Group AG, Croll Reynolds Company Inc., Fabritech Engineers Pvt. Ltd., Duke Energy Corporation, Pacific Green Technologies Inc., Andritz AG, Hitachi Zosen Inova, Schutte & Koerting Acquisition Company, Pollution System, CR Clean Air Group LLC, Anguil Environmental Systems Inc., Alfa Chemistry, Chempri BV, Croda International plc., Evonik Industries AG, Kuala Lumpur Kepong Berhad, NOF CORPORATION, Pilot Chemical Corp., Stockmeier Group, Zschimmer & Schwarz GmbH & Co. KG, Lubrizol Advanced Materials Inc.
Contents of the report:
1. Executive Summary
2. Scrubber System Market Report Structure
3. Scrubber System Market Trends And Strategies
4. Scrubber System Market - Macro Economic Scenario
5. Scrubber System Market Size And Growth
…..
27. Scrubber System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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