Tuesday, 31 January 2017
Industrial Air Filtration Market to 2025: In-depth Market Analysis by Technology, Product, Application and Segment
The global industrial air filtration market is expected to reach USD 6.08 billion by 2025. The growing demand for high-performing, energy-efficient products is expected to catapult the demand over the forecast period. Further, environmental awareness and rapid industrialization coupled with resource scarcity are also expected to catalyze the market growth over the next nine years. Technological advancements have resulted in the manufacturing of a new filter media to meet the demand of energy-efficient products. This, in turn, has instigated the development of innovative raw materials such as small fibers and is anticipated to provide new avenues for industry growth.
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Financial drivers are also expected to play key roles in incentivizing end-users to enhance the performance of a manufacturing process and reduce manufacturing costs. The industry is anticipated to witness the movement of manufacturing facilities to China or Eastern Europe, primarily, to cut-down manufacturing costs. Industrial air filters are critical components of the manufacturing industry as they are used to protect sensitive and advanced manufacturing processes and reduce the risk of molecular or microbiological contaminations. They also eliminate hazardous emissions in several manufacturing processes and are expected to witness a healthy demand in the European market, owing to a spate of regulations governing these industries.
Further key findings from the report suggest:
Dust collectors accounted for over 20% of the overall market in 2015, owing to their widespread usage in industrial applications, primarily, in controlling air pollution
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The demand for filters in the power segment accounted for over 10% of the overall revenue in 2015 and the segment is expected to witness a steady growth over the next nine years, as power generation industries have numerous filter requirements, such as increasing effectiveness and efficiency, for environment protection.
Asia Pacific accounted for over 20% of the overall revenue in 2015 and is expected to witness a substantial growth over the forecast period, which is accredited to the high penetration of these products across the metals industry to support several regulatory requirements
Key players, such as Donaldson Company, Clarcor, Inc., Cummins Filtration, and Camfil, enhanced their market position through mergers & acquisitions and expanded their geographical reach