Selbyville, Delaware, March 01, 2022 (GLOBE NEWSWIRE) --
The industrial air filtration market is expected to surpass USD 8.85 billion by 2027, as reported in a research study by Global Market Insights Inc. Rising concern pertaining to degradation of air quality and implementation of stringent environmental regulations to reduce air pollution is anticipated to positively influence the industry growth. Additionally, a growing focus on workers' health & safety along with stringent government regulations for maintaining indoor air quality (IAQ) in industrial settings is projected to drive the market demand.
Baghouse filters product segment is set to witness a growth rate of about 6.1% through 2027. Baghouse filters or fabric filters are used to filter dust and other granular solid pollutants from small household workplaces to large industrial facilities including coal-fired power plants and cement plants. High efficiencies and low initial investment cost associated with baghouse filters is projected to escalate the product demand.
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The power application crossed more than USD 1.00 billion in 2020. The air filtration system helps to protect the gas turbine, generator, and equipment compartments from air-borne dirt and contamination. They protect wind turbines from fouling, avoid unplanned downtime, and ensure longer maintenance intervals. Thus, rapid growth in the power generation sector across the globe owing to high electricity demand should accelerate the growth of the power generation sector, which in turn, accelerates the market growth.
Asia Pacific industrial air filtration market size is projected to register 7% gains up to 2027. The presence of a large number of food & beverage, cement, and metal manufacturers companies in the region led to increased installation of air filtration units in their facilities driving industrial air filtration demand. Government initiatives to control the level of air pollution caused due to industrial operations and rising focus towards providing safe working environment is propelling the market growth.
China and India are expected to emerge as a global manufacturing hub for led by easy availability of labour, and low labour and infrastructure costs. Moreover, these countries are projected to witness the entry of several pharmaceutical companies to meet domestic and international demands.
Some of the prime findings of the industrial air filtration market report include:
- The cartridge collectors & filters product is projected to observe 6% CAGR through 2027 propelled by its advantages such as high efficiency, longer life span, and low cost.
- The pharmaceuticals application is predicted to surpass USD 1.40 billion by 2027 due to rapid growth in the pharmaceutical sector in emerging economies such as China and India.
- Major players in the industrial air filtration market are focused on implementing strategic initiatives such as new product launch, mergers & acquisition, and partnerships to cater the rising demand for industrial air filtration across the global.
- North America comprises a significant market share and is estimated to grow with a CAGR of over 5.5% owing to stringent environment and workers safety regulations.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Industrial air filtration industry 3600 synopsis, 2016 - 2027
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product trends
2.1.4 Application trends
Chapter 3 Industrial Air Filtration Industry Insights
3.1 Industry segmentation
3.2 COVID-19 overview of the world economy
3.3 Industry ecosystem analysis
3.4 Technology & innovation landscape
3.5 Regulatory Landscape
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Asia Pacific: Strengthening of cement, metal processing, pharmaceutical and chemical industries
3.6.1.2 Stringent Regulations and Standards
3.6.1.3 Rising environmental concerns
3.6.2 Industry pitfall and challenges
3.6.2.1 High capital investment, cost involved and slower repurchase cycle
3.6.3 Europe
3.6.3.1 Growth drivers
3.6.3.1.1 High degree of energy efficiency
3.6.3.1.2 Rising environmental concerns and enforcement of strict regulations
3.6.3.2 Industry pitfall and challenges
3.6.3.2.1 Rising life-cycle costs for industrial air filtration systems
3.7 Growth potential analysis, 2020
3.8 Cost structure analysis
3.9 Porter’s analysis
3.10 Competitive landscape, 2020
3.11 PESTEL analysis
3.12 Impact of COVID-19 on industrial air filtration demand, by application
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
