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 Radiant Insights, 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.
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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.
Further key findings from the report suggest:
• The dry scrubbers segment is expected to witness a CAGR exceeding 7.5% over the forecast period. Dry scrubbers generate minimal waste leading to the elimination of complex sanctioning procedure along with plummeting capital and operating costs
• The demand for air filters in the power segment accounted for over 19% of the global industrial air filtration market in 2019 and the segment is expected to witness a steady growth over the next seven years, as this industry has to comply with several government regulations including Environmental Protection Agency (EPA) and OSHA standards
• Asia Pacific accounted for over 25% of the overall revenue in 2019 and is expected to witness substantial growth over the forecast period, which is accredited to high penetration of these products across the metal and plastic industry coupled with increased R&D spending in the Asia Pacific food and beverage industry
• Key players, such as Honeywell International, Inc., MANN+HUMMEL, Daikin Industries, Ltd., Clean TeQ Holdings Limited, 3M, and SPX Corporation, enhanced their market position through mergers and acquisitions in order to expand their geographical reach.
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Table of Contents
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
1.3. List of Data Sources
Chapter 2. Executive Summary
Chapter 3. Industrial Air Filtration Industry Outlook
3.1. Market Segmentation
3.2. Market Size and Growth Prospects, 2016-2027
3.3. Value Chain Analysis
3.4. Market Dynamics
3.4.1. Market driver analysis
3.4.1.1. Stringent government regulations
3.4.1.2. Need to achieve energy efficiency
3.4.2. Market restraint analysis
3.4.2.1. Cost concerns
3.5. Penetration and Growth Prospect Mapping
3.6. Industry Analysis - Porter's Five Forces Analysis
3.7. Company Market share Analysis, 2018
3.8. PEST Analysis
3.9. Technology Landscape
3.10. Regulatory Landscape
Chapter 4. Industrial Air Filtration Market: Product Outlook
4.1. Global Industrial Air Filtration Market Estimates And Forecasts, By Product, 2019 & 2027 (USD Million)
4.2. Dust Collectors
4.2.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
4.2.2. Market estimates and forecasts by region, 2016 - 2027 (USD Million)
4.3. Oil Mist Collectors
4.3.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
4.3.2. Market estimates and forecasts by region, 2016 - 2027 (USD Million)
Continued…
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June 24, 2019: The global industrial air filtration market is expected to reach USD 6.08 billion by 2025, according to a new report by Grand View Research, Inc.
The growing demand for high-performing, energy-efficient products is expected to catapult the demand over the forecast period.
Further, environmental awareness and rapid industrialization coupled with resource scarcity are also expected to catalyze the market growth over the next nine years.
Technological advancements have resulted in the manufacturing of a new filter media to meet the demand of energy-efficient products.
This, in turn, has instigated the development of innovative raw materials such as small fibers and is anticipated to provide new avenues for industry growth.Download sample Copy of This Report at: https://www.radiantinsights.com/research/industrial-air-filtration-market/request-sampleFinancial drivers are also expected to play key roles in incentivizing end-users to enhance the performance of a manufacturing process and reduce manufacturing costs.
The industry is anticipated to witness the movement of manufacturing facilities to China or Eastern Europe, primarily, to cut-down manufacturing costs.Industrial air filters are critical components of the manufacturing industry as they are used to protect sensitive and advanced manufacturing processes and reduce the risk of molecular or microbiological contaminations.
The Industrial Air Filtration Market should grow at nearly 6 percent CAGR during 2016 to 2024 (forecast period).
Eco-concerns and urbanization are predicted to be the key drivers of the market.
Dust, fumes, & vapor across the industry of metal processing require effective filtering.
They abide by the emission standards, protect workers, and enhance production quality.Browse Details of Report @ https://www.hexaresearch.com/research-report/industrial-air-filtration-marketInnovative technology has led to air filters bettering themselves in terms of quality & performance.
This factor has also driven the market.
Moreover, advanced feedstock (small fibers, etc.)
The global industrial air filtration market size is estimated to touch USD 18.0 billion by the end of 2027 and is projected to register a CAGR of 7.3% during the forecast period 2020 to 2027, according to a new report by Million Insights.
Additionally, technological development in new filter media is projected to bode well with the market growth.
This is expected to bolster the need for air filtration systems in power industries.
Furthermore, stiff government regulations with a focus on reducing airborne pollutants are projected to foster the demand for air filtration systems.
In addition, various air quality standards such as the Clean Air Act, the Occupational Safety & Health Act (OSHA) are expected to positively impact market growth.
The prominent companies are emphasizing on adopting green manufacturing as a sustainable alternative.
