Industrial Air Filtration Market Surge Valuation Of USD 18.0 Billion By 2027Posted by Neha Bora on March 3rd, 2020 San Francisco, 3 March 2020: The Report Industrial Air Filtration Market Size, Share & Trends Analysis Report, By Product, By End Use (Cement, Food, Metals, Power, Pharmaceutical, Agriculture, Paper & Pulp and Woodworking, Plastic), By Region, And Segment Forecasts, 2020 – 2027 The global industrial air filtration market size is expected to reach USD 18.0 billion by 2027, growing at a CAGR of 7.3% over the forecast period, according to a study conducted by Grand View Research, Inc. The growing demand for high-performing and energy-efficient products is expected to catapult the demand over the forecast period. Technological advancements have resulted in the manufacturing of a new filter media to meet the demand for energy-efficient products. This, in turn, has instigated the development of innovative raw materials such as small fibers and is further anticipated to provide new avenues for industry growth. Soaring electricity consumption has led to the development of new power generation plants, which is expected to be a key factor driving the market for industrial air filtration. Furthermore, implementation of stringent government regulations in order to protect human health by limiting or eliminating airborne pollutant concentrations will further aid in catapulting the market. Enforcement of Occupational Safety and Health Act (OSHA) code is the key factor anticipated to drive the market for industrial air filtration. The OSHA standards prohibit companies from retaliating against employees for exercising their rights under the law. Companies across the globe are turning towards sustainable alternatives and methodologies such as green manufacturing in order to improve competitive advantage and increase revenues. Similarly, governments across the globe are collaborating with numerous environmental organizations for developing standards to control harmful emissions in the region. These standards have contributed to the expansion of the market for industrial air filtration across regions. However, lack of social responsibility and awareness may also pose a challenge to market growth. End use industries often lack their responsibility towards society and refuse to spend extra capital investment for installing an air pollution control devices, which is expected to hamper product demand over the next few years. Equipment purchase decisions are often based on the purchase price of the air filtration equipment, which is further expected to pose as a challenge to the market for industrial air filtration. Access Research Report of Industrial Air Filtration Market @ https://www.grandviewresearch.com/industry-analysis/industrial-air-filtration-market Further key findings from the report suggest:
Grand View Research has segmented the global industrial air filtration market based on product, end use, and region: Industrial Air Filtration Product Outlook (Revenue, USD Million, 2016 - 2027)
Industrial Air Filtration End-use Outlook (Revenue, USD Million, 2016 - 2027)
Industrial Air Filtration Regional Outlook (Revenue, USD Million, 2016 - 2027)
Like it? Share it!More by this author |