The global industrial air filtration market size is expected to reach USD 18.0 billion by 2027, growing at a CAGR of 7.3% over the forecast period, according to a study conducted by Grand View Research, Inc. The growing demand for high-performing and energy-efficient products is expected to catapult the demand over the forecast period. Technological advancements have resulted in the manufacturing of a new filter media to meet the demand for energy-efficient products. This, in turn, has instigated the development of innovative raw materials such as small fibers and is further anticipated to provide new avenues for industry growth.
Soaring
electricity consumption has led to the development of new power generation
plants, which is expected to be a key factor driving the market for industrial
air filtration. Furthermore, implementation of stringent government regulations
in order to protect human health by limiting or eliminating airborne pollutant
concentrations will further aid in catapulting the market. Enforcement of
Occupational Safety and Health Act (OSHA) code is the key factor anticipated to
drive the market for industrial air filtration. The OSHA standards prohibit
companies from retaliating against employees for exercising their rights under
the law.
Companies
across the globe are turning towards sustainable alternatives and methodologies
such as green manufacturing in order to improve competitive advantage and
increase revenues. Similarly, governments across the globe are collaborating
with numerous environmental organizations for developing standards to control
harmful emissions in the region. These standards have contributed to the
expansion of the market for industrial air filtration across regions.
However,
lack of social responsibility and awareness may also pose a challenge to market
growth. End use industries often lack their responsibility towards society and
refuse to spend extra capital investment for installing an air pollution
control devices, which is expected to hamper product demand over the next few
years. Equipment purchase decisions are often based on the purchase price of
the air filtration equipment, which is further expected to pose as a challenge
to the market for industrial air filtration.
Full Research Report On Industrial Air Filtration Market Visit Here:
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Industrial Air
Filtration Market Report Highlights
- The dry
scrubbers segment is expected to witness a CAGR exceeding 7.5% over the
forecast period. Dry scrubbers generate minimal waste leading to the
elimination of complex sanctioning procedure along with plummeting capital
and operating costs
- The demand
for air filters in the power segment accounted for over 19% of the global
industrial air filtration market in 2019 and the segment is expected to
witness a steady growth over the next seven years, as this industry has to
comply with several government regulations including Environmental
Protection Agency (EPA) and OSHA standards
- Asia Pacific
accounted for over 25% of the overall revenue in 2019 and is expected to
witness substantial growth over the forecast period, which is accredited
to high penetration of these products across the metal and plastic
industry coupled with increased R&D spending in the Asia Pacific food
and beverage industry
- Key players,
such as Honeywell International, Inc., MANN+HUMMEL, Daikin Industries,
Ltd., Clean TeQ Holdings Limited, 3M, and SPX Corporation, enhanced their
market position through mergers and acquisitions in order to expand their
geographical reach.
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Industrial Air
Filtration Market Segmentation
Grand View Research has
segmented the global industrial air filtration market based on product, end
use, and region:
Industrial Air
Filtration Product Outlook (Revenue, USD Million, 2016 - 2027)
- Dust Collectors
- Oil Mist Collectors
- HEPA Filters
- Cartridge Collectors & Filters (CC&F)
- Baghouse Filters
- Welding Fume Extractors
- Wet Scrubbers
- Dry Scrubbers
Industrial Air
Filtration End-use Outlook (Revenue, USD Million, 2016 - 2027)
- Cement
- Food
- Metals
- Power
- Pharmaceutical
- Agriculture
- Paper & Pulp and Woodworking
- Plastic
- Others
Industrial Air
Filtration Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Turkey
- Sweden
- Spain
- Poland
- Asia Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- UAE
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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