Air Treatment Market Growth, Analysis, Latest Trends and Forecast till 2023
Posted by edwardzmusso on May 12th, 2022
According to the new market research report \"Air Treatment Market by Technology (HEPA Filters, Activated Carbon), Product (Dust Collector, Engine exhaust systems), Application (Exhaust air and Compressed air), Vertical (Manufacturing, Automotive), and Geography - Global Forecast to 2023\", the air treatment market, the market is expected to be worth USD 17.39 billion by 2018 and USD 25.56 billion by 2023, growing at a CAGR of 8.00% during the forecast period.
The growth of the air treatment market is driven by factors such as increasing industrialization and urbanization, stringent regulations governing emissions and treatment of industrial effluents, and the need for achieving high efficiency with mechanical equipment and factory processes.
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Based on technology, the air treatment market has been segmented into HEPA filters, electrostatic precipitators, activated carbon, UV filters, ionic filters, and conventional filters. HEPA filters are likely to account for the largest share of the market during the forecast period. The demand for HEPA filters is driven by growing concerns of environmental sustainability, regulations regarding industrial emissions, and health issues related to airborne diseases. The air treatment market for activated carbon is expected to grow at the highest CAGR amongst all technologies during the forecast period; this growth can be attributed to these filters being efficient in capturing all carbon containments, hazardous gases (sulfur dioxide, carbon monoxide, and others) chemical fumes, odors, and smoke. These filters are preferred in industries such as automotive, manufacturing, power generation, and oil & gas.
Based on vertical, the air treatment market has been segmented into manufacturing, automotive, oil & gas, power generation, pulp & paper, commercial, and residential. The manufacturing industry is expected to hold the largest share of the market during the forecast period due to increasing industrialization and growing manufacturing activities in countries such as China, Japan, India, and South Korea. Tightening emission control regulations and air quality monitoring standards worldwide would be major drivers for the adoption of air treatment systems in the manufacturing industry. The automotive vertical is expected to be one of the significant contributors to the market in 2018 and the market for this segment is expected to grow at the highest CAGR amongst all verticals during the forecast period.
Air treatment market in APAC to hold the largest share during forecast period
The air treatment market in APAC is expected to hold the largest share during the forecast period. Increasing population, rapidly growing economies, and government initiatives to promote industrial growth have made APAC an ideal destination for production units for verticals such as semiconductor fabrication, consumer electronics, and automobiles. Advancements in terms of economic growth, infrastructural developments, and construction of power plants are expected to boost the growth of the air treatment market in APAC in the coming years.
Freudenberg Filtration Technologies (Freudenberg) (Germany), Donaldson Company Inc (Donaldson) (US), Parker Hannifin Corp. (Parker Hannifin) (US), Ahlstrom-Munksjö (Finland), Mann+Hummel (Germany), Cummins Inc. (US), Camfil Group (Sweden), and Atlas Copco AB (Sweden) are a few key players in the air treatment market.
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Joined: February 8th, 2021
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