The industrial filtration market is expected to grow from an estimated USD 25.89 Billion in 2018 to USD 35.47 Billion by 2023, registering a CAGR of 6.50% during the forecast period. This growth is primarily due to the growing industrialization and urbanization, stringent regulations pertaining to emissions and treatment of industrial waste, and requirement of safe working environment in industrial facilities.
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The industrial filtration market, by filter media, is segmented into activated carbon/charcoal, fiber glass, filter paper, metal, and nonwoven fabric. Nonwoven fabric, by filter media, for industrial filtration is expected to grow at the highest CAGR from 2018 to 2023.
These nonwoven fabric filter bags are made from nonwoven Polypropylene (PP) fabric and are durable, reusable, water-resistant, hypoallergenic, fire-resistant, soft, light, and sometimes washable.
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Key Target Audience
- Semiconductor and electronic component manufacturers and distributors
- Sensor manufacturers and distributors
- Component manufacturers
- Original equipment manufacturers (OEMs)
- Original design manufacturers (ODMs) and technology solution providers
- Technology standards organizations, forums, alliances, and associations
- Government bodies, venture capitalists, and private equity firms
- System integrators
- Value added resellers
- Research organizations
- Technology investors
Asia Pacific is expected to account for the largest market share of the global industrial filtration market in 2018. This trend is projected to continue until 2023.
Emission regulations accompanied with the need for clean indoor air facilities is one of the major factors that drive this market. The growth in manufacturing, power generation, oil & gas, and food & beverage industries has a great influence in the economic development of the countries in the region.
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Report defines, describes, and forecasts global industrial filtration market by type, installation, voltage, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market.
The report provides a comprehensive review of major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues. It also covers various important aspects of the market.
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Some of the prominent players in the market include Alfa Laval (Sweden), Ahlstrom-Munksjö (Finland), Donaldson (US), Eaton (Ireland), Freudenberg (Germany), Mann+Hummel (Germany), Pall Corporation (US), and Parker Hannifin (US).
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The industrial filtration market, by type, is segmented into liquid and air. The air filtration market is expected to grow at the highest CAGR during the forecast period.
Strict government regulations to curb air pollution is expected to drive the growth of the air-type industrial filtration market. Furthermore, the market for mechanical filtration, by technology is expected to be the largest market and the market for electrostatic precipitator, by product is estimated to be the largest.
2 Ranking of Players & Industry Concentration, 2016
3 Competitive Scenario
4 Contracts & Agreements
5 New Product Developments
6 Investments & Expansions
7 Mergers & Acquisitions
The market for air filtration is expected to grow at the highest CAGR from 2018 to 2023. Strict government regulations to curb air pollution is expected to drive growth of the air-type industrial filtration market.
Moreover, the demand for clean air in workplaces is gaining importance and is contributing to its development.
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