Wet Scrubber Market Growth & Trends
The global wet scrubber market size is expected to reach USD 1.78 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.8% from 2020 to 2027. The market is largely driven by growing gas treatment techniques, mostly in power generation, refineries, and chemical plants for gas treatment.
Numerous emission standards have been implemented by many governments for regulating air quality. Furthermore, monitoring agencies such as the Environmental Protection Agency (EPA), Central Pollution Control Board, and European Environment Agency (EEA) are implementing strict protocols for air pollution control, which, in turn, is projected to drive the market.
Wet scrubbers are capable of handling gases as well as air particulates, which has boosted their demand where controlling air pollution is of primary concern. Besides, wet scrubber has higher acid gas control efficiency than other control methods. Wet scrubbers also help in neutralizing corrosive gases, which has increased their demand in numerous industrial applications.
The industry is highly fragmented with the presence of a large number of participants across the value chain. Market players have been witnessing intense competition in terms of product offering at a competitive price range. The global wet scrubber industry is expected to witness significant rivalry over the forecast period.
Request a free sample copy or view report summary: Wet Scrubber Market Report
Wet Scrubber Market Report Highlights
Packed bed scrubber emerged as the largest product segment in 2019 with a share of 44.5% owing to its high efficiency and low capital cost
The power generation end-use segment led the market and accounted for 23.2% share of the global revenue in 2019, as power plants are the largest source of SO2, acid gases, and mercury
Asia Pacific dominated the market and accounted for 34.5% share of the global revenue in 2019, owing to the significant growth of power generation, chemical, and petrochemical industries in the fastest-growing markets, including China and India
Europe emerged as the second-largest regional market in 2019 on account of numerous technological developments and stringent government regulations on air pollution
Advanced research and development operations by market participants have led to extremely innovative designs, which has optimized the adoption of wet scrubbers across the globe
Comments