Newark, NJ, May 16, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global odor control system market is expected to grow from USD 1.97 billion in 2019 to USD 2.93 billion by 2027, at a CAGR of 5.07% during the forecast period from 2020-2027. Asia Pacific region dominated the market and valued at USD 630 million in 2019. With the growing urbanization and population in the region, the need for effective odor management has been increased. Urbanization without proper sanitation is a significant cause of the odor problem. In addition to this, rapidly growing industrialization in countries such as India, China, and Southeast Asian countries, further contributing to the odor development. Thus, to combat these significant issues, various governments and manufacturers have adopted the odor control systems in the Asia Pacific region. On the other hand, the European region is projected to grow at the highest CAGR of 5.51% over the forecast period. The growth is mainly attributed to rising stringent regulations on the odor control imposed by various governments and agencies, propelling the growth of the market.
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Key players in the global odor control system market are Evoqua Water Technologies LLC, Siemens, KCH Services Inc., Romtec Utilities, Inc., Integrity Municipal Systems, LLC, Tholander Ablufttechnik GMBH, Environmental Integrated Solutions, IPEC NV, Bulbeck Group, and ECS Environmental Systems among others. Key companies are mainly focusing on the addition of innovative features in their odor control system to add value and to enhance the customer base across the globe. In addition to this, the vendors are adopting the key strategies such as partnerships, collaborations, and mergers & acquisitions to gain a significant market share in the market. For instance, in January 2018, Evoqua Water Technologies LLC announced that it secured the contract for an odor control project from wastewater treatment plant (WWTP) in Western Canada.
The type segment includes chemical odor control systems, activated carbon odor control systems, and biological odor control systems. The biological odor control systems segment is estimated to grow at the highest CAGR of 5.29% over the forecast period. This system includes the combination of gas adsorption, absorption, and biological treatment for the effective odor removal. It reduces the biological oxygen demand in the wastewater, and efficiently reduces the odor. Nowadays, biological odor control systems are widely being used for municipal and industrial odor control, thus boosting the growth of the market. Application segment classified into chemical industry, oil refineries & petrochemical industry, waste treatment facilities, food & beverages, pulp & paper industry, manufacturing, and others. Waste treatment facilities held a major market share of 30.56% in the year 2019. Waste treatment facilities commonly release hydrogen sulfide (H2S), which leads to odor complaints from surrounding residential areas and unsafe conditions for workers. In addition to this, hydrogen sulfide (H2S) causes corrosion to the equipment and plants, which can result in costly repairs and harmful leakage of gases and liquids. Thus, the adoption of odor control system is very high in the waste treatment facilities, which is contributing to the market growth.
Growing concern for satisfactory working conditions in the manufacturing facilities and waste treatment plants, the demand for odor control systems is increasing. Moreover, rising environmental awareness among the governments and institutes further boosting the growth of the market. However, the odor control system becomes less effective over the years due to wear and tear, which may limit the growth of the market over the forecast period.
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About the report:
The global odor control system market is analysed on the basis of value (USD Million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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