Pune, Feb. 28, 2023 (GLOBE NEWSWIRE) -- The Industrial Air Filtration Market was assessed at USD 10.71 billion in 2022 and is anticipated to attain USD 19.06 billion by 2030, exhibiting a CAGR of 7.47% during the projection period spanning from 2023 to 2030, as reported by SNS Insider.
The industrial air filtration market is experiencing significant growth owing to the increasing demand for HEPA (High Efficiency Particulate Air) filters in various industrial applications, including healthcare and the food industry. The need for air disinfection and environmental sterility for critical patients has led to a surge in demand for HEPA filters in clinics, hospitals, and other healthcare facilities. Governments and regulatory bodies worldwide are implementing strict regulations to curb air pollution, which has led to the adoption of air filtration systems in various industries.
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Industrial Air Filtration Market Overview
| Report Attributes | Details |
| Market Size in 2022 | US$ 10.71 Billion |
| Market Size by 2030 | US$ 19.06 Billion |
| CAGR | CAGR of 7.47% From 2023 to 2030 |
| Key Segments | • by Module Type (Intelligent Power module, Power Integrated module) • by Propulsion (Electric vehicles, ICE vehicles) • by Vehicle Type (Passenger cars, Commercial vehicles) |
| Company Profiles | Ahlstrom-Munksjö, Air Filters, Inc., American Air Filter Company Inc. (Daikin Industries Ltd), Camfil, Donaldson Company, Inc., Filtration Group Freudenberg Filtration Technologies SE & Co. KG, Lydall, Inc., MANN+HUMMEL, Parker-Hannifin Corporation. |
| Key Drivers | •Environmental regulations and standards are becoming increasingly important over the world. •Global industrialization is accelerating. |
| Restraints | •High capital investment •Slower repurchase cycle |
Major Trends Observed for Industrial Air Filtration Market
- Manufacturers are increasingly focusing on developing filters that not only provide effective air cleaning but also consume less energy. This has led to the emergence of several energy-efficient air filters in the market, including rigid cellular filters, pleated filters, and pocket filters.
- Wet scrubbers are a type of air filtration system that have gained significant traction in recent years due to their numerous benefits. As a result, the wet scrubbers segment accounted for the highest market share in the air filtration market, and is anticipated to continue dominating the market during the forecasted period.
- The food industry segment emerged as the largest revenue generator as it is most important industries in the world, and air quality is a crucial factor for preserving food products. As a result, food manufacturers are focusing on food safety measures and following food safety standards, which has led to the increased adoption of air filtration systems in the industry.
- The European Union has been at the forefront of environmental regulation, and the EU's air quality standards are among the strictest in the world. These regulations have created a demand for air filters that meet these standards, which has driven the growth of the air filter market in Europe.
Impact of recession on Industrial Air Filtration Market
The market has also shown resilience during economic downturns. The need for clean air in industrial settings remains a priority, and companies are likely to continue investing in air filtration systems to protect their employees' health and meet regulatory requirements.
Key Developments Related to Industrial Air Filtration Market
- Viet Air Filter Production Joint Stock Company (VAF) has recently expanded its operations with the opening of a new factory in Thai Nguyen, Vietnam. This state-of-the-art facility is equipped with the latest technology and machinery to manufacture industrial air purifiers and cleanrooms.
- Hengst, a leading global filtration company, has announced the acquisition of a Brazilian filtration company to strengthen its presence in the South American market. The Brazilian company specializes in the production of oil, fuel, and air filters for industrial and automotive applications.
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