Industrial Filtration Market earned USD 28.7 billion in 2021 and to reach USD 44 billion in 2029, expanding at a CAGR of 5.5% | Size & Forecast

Analysis from GMI Research finds that the Industrial Filtration Market earned revenues of USD 28.7 billion in 2021 and forecast to touch USD 44 billion in 2029 will grow at a CAGR of 5.5% from 2022-2029.

Key Industrial Filtration Market Drivers

Global industrial filtration market is primarily driven by environmental regulations imposed by governments, growing focus of companies on providing safe working environments in industrial settings, increasing industrialization around the world. Industrial emissions have become a major concern for countries worldwide. Industry energy consumption holds a major share in the global total final energy consumption. As per International Energy Agency’s (IEA) estimate, due to industrial activities 9.4?Gt of carbon dioxide was emitted in 2021, which represents around quarter of global emissions (excluding indirect emissions from electricity, which was used for industrial processes). Increasing industrial emissions around the world have led to implementation of environmental protection laws and regulations by governments to reduce the impact of these emissions. These laws focus on promoting the use of non-toxic substances and conservation techniques in industrial processes. Developed countries of European and North American region are one of the early adopters of such laws.

In 2022, European Union (EU) made amendments in its Industrial Emissions Directive (IED), which includes the adoption of tighter pollutant emission limit values, expanding IED’s coverage to livestock farming and industrial activities and usage of non-toxic chemicals in industrial processes, to reduce emissions. As countries are focussing on achieving net zero emission levels, adoption of different industrial filtration systems, is expected to increase, which in turn will create lucrative growth opportunities for industrial filtration market in coming years.

Industrial filtration systems are gaining traction in manufacturing and power generating industries as it keeps air and gas free from contamination during processes and increases overall production output. Moreover, advancements in industrial air filtration system, increasing adoption of Industry 4.0 and government initiatives promoting the use of renewable sources of energy in power plants, are augmenting the industrial filtration system market. However, limited functionalities of these filtration systems in industrial processes, is restricting the industrial filtration market growth.

Based on Type, Liquid segment is forecast to dominate the market.

Regulations set by government related to discharge of water bodies like river and streams is boosting the adoption of liquid industrial filtration systems. Industrial air filtration market is driven by growing need to control industrial air quality in industries like power, metal and oil and gas.

Based on Filter Media, Non-Woven & Synthetic Fabric segment is estimated to capture the largest market share.

Non-woven and synthetic fabric based industrial filtration systems are gaining popularity in the market as these systems are durable, fire-resistant, lightweight and hypoallergenic features.

Based on Region, North American region is estimated to lead the market.

In North America the major factors driving the industrial filtration market includes controlling air pollution, increased demand for semiconductors and increasing investment in the industries which were strictly imposed by the government.

Industrial Filtration Companies

Some of the major companies operating in the industrial filtration market are Donaldson Company, Alfa Laval Inc, Filtration Group, Danaher Corporation, Eaton Corporation Plc, Donaldson Company, Inc., Ahlstrom-Munksjö Oyj, Parker Hannifin Corporation, Freudenberg Group, Babcock & Wilcox Enterprises, Inc., among others.

Key Developments:
• In November 2021, Alfa Laval, a Swedish manufacturing company announced that it has made enhancements in its Gas Combustion Unit 2.0, to strengthen its LNG portfolio.
• In October 2021, Donaldson company completed the acquisition of Solaris, to provide comprehensive filtration solutions to its food and beverage customers and expand its presence in the biopharma and other life sciences market.

Market Segmentation

Segmentation by Type

• Liquid
o Technology
o Pressure Filtration
o Centrifugal Filtration
o Gravy Filtration
o Vacuum Filtration
o Others

• Air
o Technology
o Mechanical
o Electronic
o Gas Phase

Segmentation by Product Type
o Pressure Filtration
o Centrifugal Filtration
o Gravity Filtration
o Vacuum Filtration
o HEPA
o ULPA
o Electrostatic Precipitator
o Others

Segmentation by Filter Media
o Metal
o Activated Carbon/Charcoal
o Fiber Glass
o Filter Paper
o Non-Woven & Synthetic Fabric

Segmentation by Industry
o Manufacturing
o Power Generation
o Oil & Gas
o Pharmaceuticals
o Metals & Mining
o Process Industry

Segmentation by Region

• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• North America
o United States of America
o Canada
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE

Our Related Reports:

Industrial Pumps Market

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

 

Tags: industrial filtration system market, Industrial Filtration Market Growth, Industrial Filtration Market