Industrial Filtration Market Trend 2019 | Global Industry Analysis by Size, Share, Segments, Growth Factor, Business Opportunity and Forecast to 2023
Industrial Filtration Market Research Report, by Type (Air Filters and Liquid Filters), Media (Fiber Glass, Activated Charcoal/Carbon, Fiber Paper, Metal, Nonwoven Fabrics), End-use Industry (Oil & Gas, Manufacturing, Power Generation, Pharmaceutical) and Region – Global Forecast till 2023
Pune, India – June 11, 2019 /MarketersMedia/ —
MRFR has a newly added “Global Industrial Filtration Market Research Report” that gives meticulous investigation of current scenario of the market size, share, scope, stake, progress, future trends, demand, growth, upcoming opportunities and forecast in the coming years.
The global industrial filtration market is expected to grow at a CAGR of 6.73% during the forecast period. Global industrial filtration market is estimated to witness phenomenal growth during the forecast period due to rising investments in water & wastewater sector which is one of the key end-users of industrial filters.
Prominent Players:
The prominent players in the global industrial filtration market are Cummins Filtration (US), Pall Corporation (US), Parker Hannifin (US), Mann+Hummel (US), Donaldson (US), 3M (US), Eaton (Ireland), Alfa Laval (Sweden), Freudenberg Group (Germany), Lenntech (The Netherlands), and Camfil (Sweden).
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Industrial Filtration Market Scenario:
Industrial filtration is widely used for removing impurities and other contaminations. Industrial filters are used for number of applications including cleaning and treating lubricants, industrial oils, gases, and water. Filters reduce waste disposal costs, lower maintenance time and expense, minimize process downtime, and improve product quality. All these factors are expected to drive the growth of industrial filtration market during the forecast period.
The key drivers of industrial filtration market are regulatory compliance in industries such as food & beverage and pharmaceuticals and growing focus on safe working environment. As recalls in food industry are biggest threat to any company’s profitability. So, companies now-a-days are paying more attention towards focus on meeting regulatory compliances. This is expected to drive the industrial filtration market. Growing industrialization and urbanization is another factor contributing towards the growth of industrial filtration market.
Industrial Filtration Market Segmentation:
The global industrial filtration market has been segmented on basis of type, media, end-use industry, and region.
On the basis of type, the market is segmented into liquid filters and air filters. Liquid filters segment is estimated to have the major share of the industrial filtration market because of growing demand of clean drinking water and treatment of wastewater.
On the basis of media, industrial filtration market is segmented into Fiber Glass, Activated Charcoal/Carbon, Fiber Paper, Metal, Nonwoven Fabrics, and Others. Metal segment dominates the industrial filtration market.
On the basis of end-use industry, the industrial filtration market is segmented into manufacturing, oil & gas, power generation, Pharmaceuticals, and others. Manufacturing segment is estimated to dominate the market during the forecast period due to rising use of filters in industries such as cement, food & beverage, and chemicals, among others.
Regional Analysis:
Based on region, the industrial filtration market has been analyzed into four regions, namely, Asia Pacific, North America, Europe, and Rest of the World. Rest of the World includes Latin America and the Middle East & Africa.
Asia Pacific in the largest and fastest growing market for industrial filtration due to rising investments in manufacturing and water & wastewater sector. Moreover, the government initiatives such as Internet Plus and Industry 4.0 are attracting heavy investments specifically in the manufacturing sector. China, India, and Japan are the key countries in Asia Pacific industrial filtration market. In Middle East & Africa, investments are rising in water & wastewater sector, thereby driving the industrial filtration market in the region. All these factors are likely to drive the global industrial filtration market.
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Source: MarketersMedia
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