The global industrial filtration market is projected to reach USD 30.78 billion by 2021, growing at a CAGR of 6.1% from 2016 to 2021. This growth can be attributed to stringent government emission regulations and the growth of the global power generation and manufacturing industries.
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The report "Industrial Filtration Market by Type (Air & Liquid), Technology, Product, Industry (Manufacturing, Power Generation, Metals & Mining, Oil & Gas, Healthcare & Pharmaceuticals, and Process) and by Region - Global Trends & Forecast to 2021", The industrial filtration market is projected to grow from an estimated USD 22.91 Billion in 2016 to USD 30.78 Billion by 2021, registering a CAGR of 6.1% from 2016 to 2021. Stringent government emission regulations, rising demand for high-quality products, and growing environmental concerns are expected to boost the growth of the industrial filtration market during the forecast period.
Browse 107 market data Tables and 55 Figures spread through 186 Pages and in-depth TOC on "Industrial Filtration Market by Type (Air & Liquid), Technology, Product, Industry (Manufacturing, Power Generation, Metals & Mining, Oil & Gas, Healthcare & Pharmaceuticals, and Process) and by Region - Global Trends & Forecast to 2021"
Industrial liquid filtration to dominate the market during the forecast period
Liquid filtration is estimated to hold a larger market share than dry filtration, as it is being widely used for the treatment of supply water in water & wastewater treatment facilities, especially in emerging economies.
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Moreover, the growth of industries that are dependent on water, such as chemicals, oil & gas, power generation, pharmaceuticals, and food & beverage, is also expected to fuel the demand for this kind of filtration. Liquid filtration is estimated to account for over 76% of the market share from 2016 to 2021, and is expected to grow at a higher rate than industrial air filtration.
Air filtration is generally used in industries that require a dust-free manufacturing environment, such as electrical & electronics and equipment manufacturing. Stringent government regulations to control the harmful contaminants released in industrial smoke will likely drive the air filtration market.
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Manufacturing industry to hold the largest share in the industrial filtration market from 2016 to 2021
The industrial filtration market has been segmented on the basis of industry into manufacturing, power generation, oil & gas, healthcare & pharmaceuticals, metals & mining, and process. The manufacturing industry is the largest contributor to the industrial filtration market, and also acts as a key driver of the market.
The industrial filtration market is driven by the stringent emission regulations set by governments across the world to control pollution levels and reduce global warming. Furthermore, the demand for high-quality products from consumers has boosted the demand for advanced filtration equipment in several manufacturing and process industries.
Asia-Pacific industrial filtration market to witness the highest growth from 2016 to 2021
The report covers five major regions namely, Asia-Pacific, Europe, the Middle East & Africa, North America, and South America. The Asia-Pacific region is expected to witness high growth in the power generation, manufacturing, process, healthcare, and oil & gas industries from 2016 to 2021.
Moreover, new policies to control environmental pollution will likely fuel the growth of the industrial filtration market in this region.
The report also provides an in-depth analysis of the competitive landscape, along with profiles of leading industrial filtration market players such as Mann + Hummel GmbH (Germany), Donaldson Company, Inc. (U.S.), Alfa Laval (Sweden), Clarcor Inc.
(U.S.), and Parker Hannifin Corporation (U.S.). Key players are trying to penetrate emerging markets, and are adopting various strategies such as contracts & agreements, expansions, mergers & acquisitions, and new product launches to increase their market share.
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