Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Industrial Air Filtration Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The industrial air filtration market size has grown strongly in recent years. It will grow from $14.16 billion in 2023 to $15.28 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The expansion observed during the historical period can be attributed to factors such as heightened awareness of health and safety, the growth of industrialization, global economic trends, innovations in material science, and the pursuit of cost savings through energy efficiency.
The industrial air filtration market size is expected to see strong growth in the next few years. It will grow to $20.55 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The anticipated growth in the forecast period can be attributed to factors such as the integration of Industry 4.0, increasing awareness of air quality, the expansion of end-use industries, a heightened focus on sustainable practices, and an emphasis on pandemic preparedness. Key trends expected during this period include a rising demand for clean air solutions, the implementation of stringent environmental regulations, ongoing technological advancements, the global impact of pandemic preparedness, and an increased focus on energy efficiency.
The industrial air filtration market is poised for growth, driven by the global increase in air pollution levels. For instance, IQAir's global air quality data platform reported a 7% increase in average particle pollution levels in the United States in 2021, underscoring the need for industrial air filtration solutions. Hence, the surge in global air pollution levels is a key driver for the industrial air filtration market.
The industrial air filtration market is anticipated to experience growth propelled by the escalating demand for clean energy. In 2021, annual global renewable capacity installations reached a record high, growing by 6% to approximately 295 GW, with expectations of further growth to around 320 GW in 2022, as reported by the International Energy Agency. This surge in clean energy demand is a significant factor driving the growth of the industrial air filtration market.
A prominent trend in the industrial air filtration market is the focus on product innovations. Major companies in the industry are dedicated to developing innovative solutions to enhance their market standing. For example, Avient Corporation introduced the MagIQ Non-Woven Electret additive for HEPA filters in December 2021. This innovative additive creates charge traps in melt-blown non-woven materials, aiding in attracting and capturing airborne particles. Additionally, it improves material crystallinity and mechanical deformation, preventing electret charge drift. This innovation is applicable to various settings, including home appliances, automobiles, and construction.
Major players in the industrial air filtration market are committed to developing cutting-edge products such as high-efficiency filters to gain a competitive advantage. High-efficiency particulate air (HEPA) filters, capable of removing at least 99.97% of airborne particles with a diameter of 0.3 micrometers, are a notable example. Alkegen launched LydAir GP in September 2022, a composite material featuring sorbent particles designed for efficient air filtration. The material exhibits a 20%-30% improvement in performance per specific gram of media, providing higher efficiency and customizable performance to meet diverse application requirements.
In January 2022, MANN+HUMMEL GmbH acquired Pamlico Air for an undisclosed sum. This acquisition is expected to accelerate MANN+HUMMEL's growth in the indoor air filtration industry, a rapidly expanding sector. Pamlico Air, a US-based provider of high-quality indoor air filtration solutions, aligns with MANN+HUMMEL's commitment to advancing filtration technology.
North America was the largest region in the industrial air filtration market in 2023. The regions covered in the industrial air filtration market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the industrial air filtration market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Report Scope
Markets Covered:
- By Product: Dust Collectors; Mist Collectors; Fume Collectors; HEPA Filters; Cartridge Collectors and Filters; Baghouse Filters; Other Products.
- By Application: New System; Replacements.
- By End-User: Cement; Food and Beverages; Metal; Power; Pharmaceutical; Chemical and Petrochemical; Paper and Wood Processing; Agriculture; Others End users.
Key Companies Mentioned: American Air Filter Company Inc.; Camfil Svenska AB; Parker Hannifin Corporation; Cummins Inc.; Donaldson Company Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa.
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
A selection of companies mentioned in this report includes:
- American Air Filter Company Inc.
- Camfil Svenska AB
- Parker Hannifin Corporation
- Cummins Inc.
- Donaldson Company Inc.
- MANN+HUMMEL GmbH
- SPX Corporation
- Honeywell International Incorporated.
- ALFA LAVAL AB
- Freudenberg & Co. KG
- Air Filter Industries Pvt. Ltd.
- BWF Offermann Waldenfels & Co. KG
- Pall Corporation
- Flanders Corporation
- Lydall Inc.
- Kaeser Compressors Inc.
- Master Fluid Solutions
- Metalfab MHS LLC
- Midwesco Filter Resources Inc.
- Polycold Systems Inc.
- Porvair Sciences plc
- Purafil Inc.
- QVF Process Systems Inc.
- Sefar Holding AG
- Siemens AG
- Sutorbilt Inc.
- Trane
- Graver Technologies LLC
- Nederman Holding AB
- Walterscheid Powertrain Group
For more information about this report visit https://www.researchandmarkets.com/r/fnyf71
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