Industrial Filtration Market to Observe Strong Growth by 2027

Posted by Siddhant on September 20th, 2022

According to the new market research report "Industrial Filtration Market by Type (Air & Liquid), Product (Filter Press, Bag, Drum, Depth, Cartridge, HEPA, ULPA), Filter Media (Activated Charcoal, Fiberglass, Filter Paper, Metal, Nonwoven Fabric), Industry and Region - Global Forecast to 2027", published by MarketsandMarkets™, the global Industrial Filtration Market is projected to reach USD 45 billion by 2027 from an estimated market size of USD 33 billion in 2022, at a CAGR of 6% during the forecast period. The key drivers for the growth of the Industrial Filtration Market include government mandates and policies for environmental protection, the need for safe working environments in industrial facilities, increased demand for equipment reliability and extended lifecycle, and industrial development in developing countries.

The liquid segment is expected to be the largest segment of the Industrial Filtration Market

The Industrial Filtration Market, by type, is segmented into liquid type and air type. The liquid type segment is expected to be the largest segment in the Industrial Filtration Market, by type, during the forecast period. Increasing environmental regulations related to the discharge of pollutants into the water bodies is expected to fuel the growth of the liquid type segment of the Industrial Filtration Market.

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The bag filter segment is expected to be the largest market, by product, during the forecast period

The Industrial Filtration Market, by product, is segmented into bag filter, filter press, cartridge filter, depth filter, drum filter, electrostatic precipitator, ULPA, HEPA and others. The market for bag filter is expected to hold the largest size of the market for industrial filtration during the forecast period. Low maintenance and low operational cost are driving the demand for bag filters.

The chemicals and petrochemicals is expected to be the largest market, by industry, during the forecast period

The Industrial Filtration Market, by industry, is segmented into food & beverage, chemicals & petrochemicals, power generation, oil & gas, pharmaceuticals, metal & mining, automotive and others. The chemicals & petrochemicals industry is expected to be the largest market for industrial filtration during the forecast period. The growth of this segment is driven by stringent regulations to reduce particulate emissions in food and beverage facilities.

North America is expected to dominate the global Industrial Filtration Market

The North America region is estimated to be the largest market for the industrial filtration, followed by Asia Pacific. The North American region is expected to lead the Industrial Filtration Market during the forecast period. The increasing investments in the manufacturing industry to control harmful particulate emissions and the rising stringent air pollution control norms are driving the Industrial Filtration Market in the region.

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The Industrial Filtration Market is served by a mix of large international players with operational presence across the globe and local players commanding a strong supply network in the domestic market. The leading players in the global Industrial Filtration Market include MANN + HUMMEL (Germany), Danaher (US), Parker - Hannifin (US), 3M (US) and Cummins (US).

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Siddhant

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Siddhant
Joined: July 26th, 2022
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