Industrial Filtration System Market Overview
The reports published by Market Research Future (MRFR) reveals that the Industrial Filtration System Market has been estimated to develop at 6.73% CAGR over the forecast period.
The need for clean and safe working environment and stringent environmental regulations are expected to drive the market for industrial filtration during the forecast period. Clean and safe indoor working environment is very essential in industries, such as food & beverages, metal & mining, paper, and power generation.
A healthy and safe working condition within the industries is beneficial for employers and employees in order to ensure the productivity, efficiency, quality, and well-being. Maintaining a clean environment lowers the chances of accidental damage in an industrial environment. Proper installation of filters in industries is essential in many ways as industrial filters improve the product life of the machinery, quality of the working medium, zero interruptions in operations, highly efficient product quality, and low maintenance and production costs.
Market Segmentation
Industrial Filtration system market has been segmented based on media, type, region, and end-use industry.
Based on media, industrial filtration market has been segmented into Activated Charcoal/Carbon, Fiber Glass, Nonwoven Fabrics, Metal, Fiber Paper, and others.
Based on type, the market has been segmented into air filters and liquid filters.
Based on end-use, the industrial filtration market has been segmented as power generation, pharmaceutical, manufacturing, oil and gas, and others. Manufacturing segment has been expected to hold the key share of the market over the forecast period on account of the rising investments in this sector across the globe. In food & beverage sector, filters are used for purification of products and preparation of ingredients. So, the growing standard of living along with increasing population has been estimated to drive the growth of food & beverage sector, which in turn results in the expansion of industrial filtration market in manufacturing segment.
Regional Analysis
Asia Pacific has been dominating the global industrial filtration market and is likely to continue over the forecast period. The demand for clean air facilities along with regulatory compliances is estimated to propel the industrial filtration market in the region. In the APAC region, China represents the largest market for industrial filtration. The investments in manufacturing sector is estimated to fuel the industrial filtration market in China. Countries such as Japan and India are projected to be the key economies for driving the growth of industrial filtration market in the Asia Pacific region. These countries are spending in pharmaceutical industries and power, oil & gas industries. The investments are made keeping in mind the development of the economy, which in turn is likely to boost the industrial filtration market in Asia Pacific.
Key Players
The global industrial filtration market has been dominated by key players such as Pall Corporation (US), Cummins Filtration (US), Mann+Hummel (US), Parker Hannifin (US), 3M (US), Donaldson (US), Alfa Laval (Sweden), Eaton (Ireland), Lenntech (The Netherlands), Camfil (Sweden), and Freudenberg Group (Germany).
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