NEWARK, Del, Oct. 04, 2022 (GLOBE NEWSWIRE) -- The global industrial filtration market is expected to witness an optimistic outlook by exhibiting a stable CAGR of 5.7% with a valuation reaching US$ 32,789 Million in 2022 and is expected to surpass an estimation of US$ 56,834.1 Million in 2032.
According to the historical analysis, ranging from 2016 to 2021, the global industrial filtration market displayed a growth rate of 4.1%. Industrial filtration is known as a method that helps in removing contaminants present in the air and gases of an industrial process.
In several industrial processes, the work environment and equipment are both well protected by air filtration systems. For industrial purposes, a water filtration system lets businesses reduce costs and lets them take a step further towards becoming environmentally friendly.
Consumers are drastically becoming aware of taking care of the environment and these efficient filtration systems help ensure that processes are safe for the environment.
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Industrial environments must be equipped with efficient and heavy-duty industrial filtration systems in order to improve the air quality within the workplace, even though industrial workers are equipped with body protection suits and air filters.
Hence, there is an extension of machinery lifespans, an increase in production output, and most importantly, prevention of air-born diseases.
According to the analysis, it has been predicted that demand for filtration equipment will continue to grow over the coming years, with the development of various consumer products such as air purifiers, water filters, and air conditioners using filtration equipment.
Key Takeaways
- With the advent of the industrial revolution, a huge number of industries have been set up for every product in various fields. With widespread industrialization, it is expected to have a positive impact on industrial filtration market growth, thus driving it steadily in the market.
- The major industries utilizing industrial filtration comprise the cement, pharmaceutical, paper, and petroleum industries. A large influence on industrial filtration market growth is accounted to the implementation of activated carbon filters in the water treatment industry for the removal of chlorine and other effluents. Attributing to these factors, an impressive surge in the adoption of these filtration systems in the industries in the near future, resulting in a faster growth rate of the market.
- In addition to that, the enforcement of strict rules and regulations by various government and environmental agencies has led to the reduction of air and water pollution emissions resulting in the growth of the industrial filtration market.
- Food & beverage companies are rapidly installing filtration systems in their manufacturing facilities in order to prevent diseases like heart disease, obesity, and diabetes. Owing to the surging popularity of organic farming and the widespread application of pesticides and fertilizers, food safety concerns will increase, which in turn will drive the demand for filtration systems in the market.
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Competitive Landscape
Key market players in the global industrial filtration market are focusing on expanding their reach through acquisitions and mergers. They are also focusing on research and development to launch new products and get an edge over the global market.
Key Companies Profiled:
Eaton Corporation Plc, Industrial Filtration, Pentair Plc, Clarcor Inc., Mann+Hummel Group, Filtration Group Company, 3M Company, Cummins Filtration, Freudenberg Filtration Technologies, Fil-Trek Corporation, Alfa Laval AB, Parker Hannifin Corporation, W. L. Gore & Associates, Donaldson Company, ZwitterCo, Woosh, EKOTON Industrial Group, ESMIL Process Systems, MI Systems, mdi Memebrane Technologies
Key Segments Profiled in the Global Industrial Filtration Market
Industrial Filtration Market by Product Type:
- Air Filters
- Bag Filters
- HEPA
- ULPA
- PTFE Membrane
- Electrostatic Precipitator
- Others
- Liquid Filters
- Strainers
- Cartridge
- Depth Filter
- Others
Industrial Filtration Market by End Use:
- Automotive
- Food and Beverages
- Mining
- Power Generation Plants
- Chemical
- Petroleum
- Pharmaceutical
- Others
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More Insights into the Industrial Filtration Market
As per the Future Market Insights analysis, North America is anticipated to dominate the global industrial filtration market. According to the projections, this region will hold about 25.1% of the global market share in 2022.
Owing to the rising investments by several regional industries to efficiently meet the regulations imposed by various industries have contributed to the growth of the industrial filtration market in the region. Healthcare and the automotive industries are also flourishing in the region, supporting market growth.
With rapid digital advancements, semiconductors and microelectronics are in high demand throughout the world. With stringent safety regulations, the regional market revenue is expected to grow at an opulent pace in the U.S. and Canada.
In addition to that, the implementation of environmental protection standards should boost the demand for products in relation to the implementation of industrial standards.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
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