DUBLIN, October 18, 2021--(BUSINESS WIRE)--The "Industrial Filtration - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Industrial Filtration Market to Reach $39.2 Billion by 2026
The global market for Industrial Filtration estimated at US$27.8 Billion in the year 2020, is projected to reach a revised size of US$39.2 Billion by 2026, growing at a CAGR of 5.9% over the analysis period.
Liquid, one of the segments analyzed in the report, is projected to grow at a 5.5% CAGR to reach US$22.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Air segment is readjusted to a revised 6.4% CAGR for the next 7-year period. This segment currently accounts for a 44.2% share of the global Industrial Filtration market.
The global industrial filtration market is being buoyed by strict regulations related to treatment of industrial waste and emissions, need for safe working space in industrial facilities, and increasing urbanization and industrialization in countries across the world. The water and wastewater treatment sector is a key driving force of the market.
The industry includes various processes such as effluent treatment, water recycling, water treatment, and sewage treatment. Further, the industry comprises technologies such as testing, disinfection, and distillation. This is expected to spur the demand for industrial filtration, which is required to eliminate pipe scale, algae, sand, and slit from the main water source.
The U.S. Market is Estimated at $12.1 Billion in 2021, While China is Forecast to Reach $4.1 Billion by 2026
The Industrial Filtration market in the U.S. is estimated at US$12.1 Billion in the year 2021. The country currently accounts for a 41.97% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$4.1 Billion in the year 2026 trailing a CAGR of 8.1% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 5.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR while Rest of European market (as defined in the study) will reach US$4.4 Billion by the close of the analysis period.
Rising concerns related to the adverse impact of pollutants present in ambient air is leading to surging adoption of filtration technologies in several areas such as manufacturing units and warehouses in developed as well as developing countries. Electronics, electrical and equipment manufacturing sectors are also increasingly using air filtration systems, as they need an environment that is free of dust.
The market is buoyed by rising concerns relating to air pollution on account of various industrial processes, growing environmental awareness, increasing need to control quality of industrial air in various industries, fast-paced industrialization, especially in Asia-Pacific, strict government policies which aim to eliminate or restrict airborne pollutant concentrations in order to safeguard human health, and increasing demand among customers for high quality products. The manufacturing sector is the primary driver of the industrial filtration market and is anticipated to account for a significant market share. Robust industrial and infrastructural development will also foster the growth of the market.
Government regulations relating to emissions and implementation of worker safety and health regulations in various regions worldwide are also likely to spur market growth. To comply with the various regulations that are being enforced to curb air and water pollution, several companies are deploying various kinds of filtering systems at their facilities, and this is proving to be favorable for the market.
In many countries in Europe and certain regions in Asia such as South Korea, India, and China, regulations related to industrial sectors have been made stringent. The EU is said to have registered considerable economic growth, post the enforcement of strict environmental policies. In 2013, the region adopted the directive of the Clean Air Policy Package, which is said to have aided in the prevention of about 58,000 deaths per annum, through the enforcement of better policies.
Also, the rising need for energy efficient and high performance products, and the establishment of novel power production facilities to meet the increasing demand for electricity are expected to bode well for the market. Filtration is performed in power plants to maintain turbine performance, to prevent the release of fly ash from coal chimneys or other solid fuel sources, or for filtering feed water of boiler. Rising use of cartridges, filters and combinations is also expected to drive gains in the market.
Further, increasing investments in industrial filtration units in chemical industries is anticipated to bode well for the market. These units are also leveraged to constrain energy requirements during the process of bleaching in the chemical sector. The rising installation of air quality mapping platforms is acting as a catalyst to market growth. Technological developments in industrial air purification systems are likely to offer growth opportunities for the market.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
COVID-19 Pandemic Breaks Present Market Growth, but Paves Way for Future Demand
Liquid Filtration Market Hurt by the Pandemic
Air Filtration Demand for Buildings Spirals in the US
An Introduction to Industrial Filtration
Global Market Prospects & Outlook
Boom in Pharmaceutical and Chemical and Petrochemical Sectors in China and India Bodes Well
Recent Market Activity
Select Global Brands
2. FOCUS ON SELECT PLAYERS (Total 108 Featured)
Alfa Laval AB
Camfil Farr Inc.
Donaldson Co., Inc.
Eaton Corporation PLC
Filtration Group Corporation
Freudenberg & Co. KG
Parker Hannifin Corporation
3. MARKET TRENDS & DRIVERS
Technology Advancements & Innovations Spur Demand for Air Filtration Equipment
Regulatory Environment Strengthens Prospects of Air Filtration Equipment
Critical Importance of Air & Water Filtration in Industrial Settings Steers Market Expansion
Expanding Applications in Cleanrooms Benefit Market Prospects
Filtration Gains Traction in Diverse Industrial Environments
Robust Opportunities in Power Generation Sector
Oil & Gas Applications Present Various Filtration Opportunities
Sluggish Tide in Oil & Gas Sector Niggles Market Momentum
Sand Filters Augment Water Filtration Infrastructure
Integration of AI Enhances Water Treatment Processes
Use of Enzymes to Improve Water Filtration Systems
AFM Filter Media Technology Reinforces Water Treatment Capabilities
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
Total Companies Profiled: 108
For more information about this report visit https://www.researchandmarkets.com/r/9nm84v
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Laura Wood, Senior Press Manager
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