Global Industrial Filters Market is Expected to Reach USD 43.24 Billion by 2026 : Fior Markets
Industrial Filters Market by Type (Air, Liquid), Filter Media (Activated Carbon/Charcoal, Fiber Glass Others), End User Industry, Regions, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2019 to 2026
New Jersey, NJ, July 31, 2019 (GLOBE NEWSWIRE) -- Global emphasis on environmental protection, growing adoption of clean ecofriendly manufacturing processes a well as rapid industrialization in the Asia Pacific region are some of the factors that are propelling the global industrial filters market. The global industrial filters market is expected to grow from USD 25.53 Billion in 2018 to USD 43.24 Billion by 2026, at a CAGR of 6.81% during the forecast period from 2019-2026, according to the new report conducted by Fior Markets.
Industrial filters are primarily used for cleaning and treating industrial oils, lubricants, gases, and water. Industrial filter design centers around separating contaminants, either solid, liquid, or gases, from a process material. The main objectives of the industrial filters are to protect human life, the environment, and machinery. Industrial filters are utilized in a wide range of end-user industries such as metals and mining, pharmaceuticals, oil & gas, etc. Global emphasis on environmental protection, growing adoption of clean eco-friendly manufacturing processes a well as rapid industrialization in the Asia Pacific region is some of the factors that are propelling the global industrial filters market.
Even though the factors such as rising levels of industrialization and urbanization, growing emphasis on emphasis on workplace safety as well as enforcement of strict environmental norms regarding emissions and treatment of industrial waste are driving the global industrial filters market. The growth of renewable energy sector coupled with slowdown in the global economy are anticipated to dampen the growth of the market over the forecasted period. However, the rapid growth of manufacturing sector in India and China as well as rising demand from the semiconductors & electronics manufacturing sectors is anticipated to drive the global industrial filters market in the upcoming years.
Key players operating in the global industrial filters market are Alfa Laval, Ahlstrom-Munksjö, Donaldson, Eaton, Freudenberg, Mann+Hummel, Pall Corporation, Parker Hannifin, Camfil, Cummins, Filtration Group, Lenntech, Sidco, Andritz, Evoqua Water Technologies, Gea Group, Veolia Water Technologies, Suez Water Technologies, SPX Flow, DOW Water & Process Solutions, Nordic Air Filtration, Hydac, Fuji Filters, 3M, and among others. The companies are adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership to maintain their presence in the global industrial filters market.
There has been an exponential demand for the high-temperature and chemical resistant filters from the end user industries. Thus in order to effectively satisfy this demand, Eaton in 2019, announced the launch of its LOFTREX Nylon melt-blown depth filter cartridge. This new filter exhibits the property to handle high operating temperatures at 248°F (120°C) and has high levels of organic solvent resistance.
Oil mist and oil smoke are plaguing the mechanical engineering industry for a long time. Thus to overcome this particular problem the MANN+HUMMEL in 2018, announced the launch new generation of mechanical oil mist and oil smoke eliminators with EC motors. These new generation reduces energy costs in comparison to existing solutions on the market.
For instance, in 2016, Eureka Forbes, a Shapoorji Pallonji Group company entered into a strategic partnership with Canada-based Process Research ORTECH to launch Automated Variable Filtration (AVF) technology-based water purifiers in India. Both the firms will leverage their core competencies to introduce high quality water filtration system, they said in a joint statement.
The air filters segment is anticipated to grow at a CAGR of 8.92% in 2019-2026
The type segment is divided into air and liquid. The air and liquid segment are both further divided into technology and products. There has been rising global focus on reducing the emission of greenhouse and other hazardous gases. Thus the air filters segment is projected to grow at the fastest CAGR of 8.92% over the forecast period.
The nonwoven fabric filter media segment is anticipated to grow at a CAGR of 8.83% in 2019-2026
Filter media segment is categorized into activated carbon/charcoal, fiber glass, filter paper, metal, nonwoven fabric, and others. On account of their durable, reusable, water-resistant, hypoallergenic, fire-resistant, lightweight, and washable properties, the non-woven fabrics are widely utilized in the various end-user industries. As a result, the nonwoven fabric filter media segment is anticipated to grow at an accelerated CAGR of 8.83% over the forecast period.
The manufacturing segment had a market value of USD 8.81 billion in 2018
End user industry is segmented into manufacturing, power generation, oil & gas, pharmaceuticals, metals & mining, process industry, and others. Asia Pacific region is witnessing a rapid pace of industrialization. Also, there has been strict enforcement of environmental emission norms as well as adoption of environmentally sustainable manufacturing processes, globally. As a consequence the manufacturing industry led the global demand for the industrial filters with USD 8.81 billion revenue in 2018.
Region Segment Analysis of the Industrial Filters Market
North America (U.S. , Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region emerged as the largest market for the industrial filters with a 36.82% share of market revenue in 2018. Presence of swiftly developing manufacturing sector, growing emphasis on reducing the environmental pollution in India and China, as well as growing demand for the pharmaceutical, petrochemical and metal products were some of the reasons that led Asia pacific region to dominate the global demand for the industrial filters. The North America region accounted for a considerable share of global industrial filters market, owing to its well-developed manufacturing and oil & gas sector.
About the report:
The global industrial filters market is analysed on the basis of value (USD Billion), Volume (Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
The report can be customized as per client requirements. For further queries, you can contact us on sales@fiormarkets.com or +1-201-465-4211. Our executives will be pleased to understand your requirements and offer you the best-suited reports.
About Fior Markets
Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.
