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Rise in demand for products, such as food & beverage, oil & gas, and pharmaceutical and increase in manufacturing facilities drive the growth of the global scrubber system market.
PORTLAND, Ore. , Aug. 23, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Scrubber System Market by End-user industry (Energy & Power, Metal, Construction, Others), by Construction material (Metal-based, Non-metal based), by Product type (Dry scrubbers, Wet scrubbers, Electrostatic precipitators): Global Opportunity Analysis and Industry Forecast, 2022-2031". According to the report, the global scrubber system industry generated $8.47 billion in 2021, and is anticipated to generate $13.86 billion by 2031, witnessing a CAGR of 4.8% from 2022 to 2031.
Rise in demand for products, such as food & beverage, oil & gas, and pharmaceutical and increase in manufacturing facilities drive the growth of the global scrubber system market. However, high initial costs of these systems restrict the market growth. Moreover, increase in product launches and acquisitions by the key market players present new opportunities in the coming years.
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The energy & power segment to grow at the fastest pace throughout the forecast period
Based on end user industry, the energy & power segment is projected to manifest the highest CAGR of 5.4% from 2022 to 2031. This is owing to the rise in industrialization which creates a demand for scrubber systems to reduce the negative impact of industrial emissions on the environment. The report also identifies segments such as metals and construction.
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The metal based segment to maintain its lead position during the forecast period
Based on construction material, the metal based segment accounted for the largest share in 2021, contributing to nearly three-fourths of the global scrubber system market, and is projected to maintain its lead position during the forecast period. This is owing to reduce the risk of life-threatening diseases. Also, the fact that the governments of various countries have mandated the installation of proper scrubber systems and fume extractors in the metal industry, drives the segment. Moreover, the non-metal based segment is expected to portray the largest CAGR of 5.4% from 2022 to 2031, due to rise in manufacturing and processing industry such as food & beverage, oil & gas, and pharmaceutical.
The electrostatic precipitators segment to maintain its lead position during the forecast period
Based on product type, the electrostatic precipitators segment accounted for the largest share in 2021, contributing to more than three-fourths of the global scrubber system market, and is projected to maintain its lead position during the forecast period. This is due to increasing awareness for air quality management and rapid industrialization in both developing & developed economies. However, the dry scrubbers segment is expected to portray the largest CAGR of 6.7% from 2022 to 2031, owing to multiple cell side options, high clean air delivery rate, and low energy consumption offered by dry scrubber in particulate air cleaners.
Asia-Pacific to maintain its dominance by 2031
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global scrubber system market, owing to rise in manufacturing industry and availability of labor and various government initiatives in the region. However, the LAMEA region is expected to witness the fastest CAGR of 5.8% from 2022 to 2031. This is owing to rise in urbanization and industrialization across the globe.
The report provides a detailed analysis of these key players of the market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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