FELTON, California, December 11, 2018 /PRNewswire/ --
The global Industrial Air Filtration Market is expected to value at USD 6.08 billion by 2025. The market is subject to witness a substantial growth due to the growing concerns regarding air pollution during various industrial processes. Increasing need for high-performing and energy efficient products are expected to drive the growth of industrial air filtration industry over the forecast period. Furthermore, growing environmental awareness and rapid industrialization, particularly in Asia Pacific and North America are the major contributing factors for market growth in near future.
Resource scarcity and increasing concerns regarding poor air quality are projected to boost market demand for industrial air filtration equipment. Globally, the industrial air filtration market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
The recent technological advancements in the manufacturing sector for new filter media to meet the demand of energy-efficient products is expected to favor market growth. Introduction of advanced raw materials such as small fibers is estimated to offer new avenues for industry growth in the near future.
Increasing adoption of filters, cartridges, and combinations that are selected based on the given set of regulatory standards is expected to amplify market value for industrial air filtration units. However, substantial decline in the manufacturing production, particularly in European region, is expected to hamper market developments in the recent years.
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In addition, lack of awareness associated with numerous safety features such as respiratory protective equipment is negatively affecting market growth to a certain extent. Yet, stringent laws & regulation in regards to adoption of safety features across various industry verticals are expected to play major role in the growth of industrial air filtration industry over the forecast period.
Moreover, strict norms placed by health and safety agencies in European and North America region to ensure safety of the worker because of increasing health hazards, has led to increasing adoption of industrial air filtration in the past few years. Furthermore, rising adoption of industrial air filtration units from chemical industries for air purification application is expected to favor industry expansion in the upcoming years. Industrial air filtration units are also used to limit energy requirements during bleaching process in the chemical industries.
The industrial air filtration market is broadly categorized into six major segments based on the application type such as chemical industry, power & energy generation sector, paper & paperboard sector, food & beverages industry, pharmaceutical sector and healthcare industry. The chemical segment is growing rapidly in the industrial air filtration industry with substantial revenue generation in the last few years.
Growing popularity of industrial air filtration units in the chemical segment is attributed to the increasing use of compressor and to curb industrial air pollution. The food & beverages segment has also witnessed substantial growth owing to the growing requirement for sophisticated devices to minimize end-product contamination due to poor air quality.
Industrial air filtration market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in air treatment sector, massive boom in manufacturing sector, rise in the number of research & development activities, and existence of well-established industrial infrastructure in the region.
Asia-Pacific region is estimated to hold major market share in industrial air filtration with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, increasing manufacturing activities, rising awareness level regarding air pollution, stringent government laws & regulation by local governments to curb industrial pollution and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the industrial air filtration industry are Parker Hannifin Co., Ingersoll-Rand plc, Atlas Copco Ltd., Donaldson Company, Inc., Emerson Climate Technologies, Inc., Ingersoll-Rand plc, Parker Hannifin Co., and Gardner Denver, Inc.
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