New York, April 10, 2023 (GLOBE NEWSWIRE) -- By 2032, it is anticipated that size of the global Filtration and Contamination Control Market would surpass an estimated US$ 81.0 billion. It is predicted to develop significantly between 2023 and 2032, with a CAGR of around 7.4%. According to estimates, the market would surpass US$ 39.7 billion in 2022.
In the manufacturing process and the automobile sector, purification and quality control are of the utmost importance. Fuel is very important since it makes machinery run more effectively and is continually required to reduce liquid pollution.
Numerous verticals often feature various filtering and contamination control technologies. It is attributable to growing desire to reduce operational expenses through waste elimination and machinery life extension.
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Rapid development resulting from ongoing industrialization and strict environmental protection legislation might be linked to expansion of the global market. Improved efficiency performance products are a key market driver.
In numerous industries, manufacturers are required to utilize filtration and pollution control techniques and tools. It is mainly due to strict regulations that have been put in place as a result of rising environmental concerns.
Based on the monitoring and control of emission levels, severe government regulations will be implemented. It would also support the use of purification and pollution control by several nations in diverse regions. For instance, Canada passed legislation in April 2018 requiring methane emissions to be reduced by up to 40 to 45 percent by 2025, using 2012 as the reference year.
The US Environmental Protection Agency (EPA) has put plans in place to reduce the excessive lead levels in drinking water. British Columbia, Alberta, and Saskatchewan have all enacted stricter and more precise regulatory procedures. Their goal is to stop venting and flaring from upstream oil & gas facilities, which would help the filtration and pollution control industry grow.
Growing need for clean fuels is one of the key drivers of growth in the filtration and pollution control industry. The market would also be driven by adoption of improved energy-efficient products and quick expansion owing to urbanization's rapid pace of growth. It is further anticipated that the industry will expand as a result of strict environmental protection rules.
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Key Takeaways from Filtration and Contamination Control Market Study
- The USA filtration and contamination control market is expected to be worth US$ 26.3 billion by 2032.
- The United Kingdom filtration and contamination control market is anticipated to be worth US$ 3.9 billion by 2032.
- Japan filtration and contamination control market witnessed average growth at a CAGR of 4.2% from 2017 to 2021.
- Based on customer type, the OEM- first kit segment is predicted to expand to around 6.9% from 2022 to 2032.
- By filtration type, the liquid filtration category is estimated to elevate at 7.1% CAGR by the end of 2032.
“In recent years, the heating, ventilation, and air conditioning (HVAC) industry has led the way in integrating filtration and pollution control solutions. Over the past five years, there has been a marked growth in terms of demand for specialized equipment.” – Says a lead analyst.
Competitive Landscape: Filtration and Contamination Control Market
In the consolidated global market for filtration and contamination control, top 5 companies account for more than 50% of global revenues. Top four businesses in the international market are Donaldson Company, Inc., Mann+Hummel Holding GmbH, Cummins Inc., and Filtermist International Ltd.
These companies have used a range of strategies to increase their market share, including partnerships, joint ventures, acquisitions and agreements. A few others are also expected to engage in new product launches and joint ventures.
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For instance,
- In April 2021, the American Air Filter Corporation created the AstroPure portable air filtration system. Every time air is driven through the 2-stage advanced filtering system by AstroPure, the air recirculation rates in that area are increased. The system uses the most powerful double-layered eFRM media purifier and a slightly elevated MERV 11 pre-filter. It has a combination that not only lowers the price of renewal filters but also improves the safety of staff members and customers in clinics, restaurants, schools, and retail stores.
Get More Exclusive Insights into Filtration and Contamination Control Market Study
Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the filtration and contamination control market, presenting historical market data (2017 to 2021) and forecast statistics for the period of 2023 to 2032.
The study reveals extensive growth in the filtration and contamination control in terms of
- Filtration type (liquid filtration, air filtration),
- Customer type (aftermarket, OEM-first kit),
- Application (engine, industrial), and regions.
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