NEWARK, Del, April 02, 2024 (GLOBE NEWSWIRE) -- The portable filtration system market is expected to be valued at US$ 720.7 million in 2024. The valuation CAGR for 2023 was 7.1%. The market's progress is projected to rise at a CAGR of 5.4% through 2034. By 2034, the market value is expected to hit US$ 1.2 billion.
The market for portable filtration systems is being driven by a variety of factors that are contributing to its growth and potential. One key driver is the increasing need for water filtration in remote areas where access to clean water is limited. This has led to a surge in demand for simple, structurally sound, and convenient filtration systems in the transportation sector worldwide. In addition, the rising concern over spreading diseases due to waterborne pathogens is considered a significant market driver in the coming years.
Another driver for the portable filtration system market is the growing demand for clean energy and water treatment. Portable filtration systems are playing an important role in the production of clean energy and water treatment. With the increasing focus on sustainability concerns, the market for eco-friendly alternatives to bottled water is gaining attention. Moreover, the use of portable filtration systems is reducing plastic waste and usage, which is a major concern for the environment.
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The attention toward outdoor recreational activities, such as hiking and camping, is also contributing to the growth of the portable filtration system market. People are increasingly using portable filtration systems to filter water and other liquids while engaging in outdoor activities. The benefits of these systems, such as their lightweight and portability, are gaining the attention of customers.
Technological advancements are also driving the growth of the portable filtration system market. Manufacturers are heavily investing in the latest technologies to integrate them into their systems, providing convenience to their customers. The integration of the latest technologies is expected to lead to the development of more advanced and efficient portable filtration systems.
Government initiatives aimed at promoting sustainability and environmental concerns are also contributing to the market growth of portable filtration systems. Governments are implementing rules and regulations to create a clean and healthy environment for their people. After the implementation of government rules and regulations, there are significant possibilities for the market to gain traction in the coming years.
Key Takeaways from the Portable Filtration System Market
- The portable filtration system market is estimated to register a CAGR of 5.4% and reach a valuation of US$ 1.2 billion by 2034.
- The centrifugal filtration segment is anticipated to dominate the market by registering a CAGR of 4.9% from 2024 to 2034.
- Expanding at a 5.1% CAGR over the forecast period, the 0–10 segment is expected to drive the market.
“The emerging healthcare systems and oil and gas industries are amplifying lucrative opportunities for the portable filtration system market. The need for clean air and water in healthcare systems is creating a major role for portable filtration systems. Several governments are trying to provide a clean and healthy environment for their people, which is driving the demand for these systems. Additionally, in oil and gas industries, the use of portable filtration systems is reducing the money spent on lubricants and other facilities,” Says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
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Competitive Landscape
During the forecast period, the market is expected to experience significant growth due to ongoing innovations and research. Key players are investing heavily in their tools to gain a greater market share. Additionally, many governments and governmental bodies are collaborating with manufacturers to enhance their research and development efforts. Manufacturers are also exploring new marketing strategies to improve the consumer experience.
Recent Developments in the Portable Filtration System Market
- In 2023, LifeStraw, a renowned brand in the field of water filtration, has recently introduced the LifeStraw Peak Series Solo Water Filter, which is highly compact and lightweight. Weighing only 1.7 ounces and measuring 5.1 inches in length, this water filter is the most lightweight and compact in LifeStraw's range of products. It has the ability to effectively eliminate various impurities from drinking water, such as parasites, bacteria, microplastics, silt, sand, and cloudiness. This makes it an excellent choice for adventurers and travelers who prioritize portability and convenience.
Key Player
- Bosch Rexroth AG
- Des-Case Corporation
- Donaldson Company, Inc
- Eaton Corporation
- MP Filtri S.p.A.
- Pall Corporation
- Parker Hannifin Corp
- Trico Corporation
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Market Segmentation
By Flow Rate:
- 0-10
- >10-20
- >20-60
- >60-100
- Above 100
By Technology:
- Centrifugal Filtration
- Vacuum Filtration
- Pressure Filtration
By End User:
- Oil & Gas
- Paper and Pulp
- Power Generation
- Manufacturing
- Petrochemicals
- Others
Authored By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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