The global industrial filtration market is projected to reach USD 41.1 billion by 2025, at a CAGR of 6.9% from 2020 to 2025
NEW YORK, April 20, 2020 /PRNewswire/ -- The global industrial filtration market is projected to reach USD 41.1 billion by 2025, at a CAGR of 6.9% from 2020 to 2025.
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The global industrial filtration size is projected to reach USD 41.1 billion by 2025 from an estimated market size of USD 29.5 billion in 2020, at a CAGR of 6.9% during the forecast period. This growth is primarily due to the increasing investments in industrial water and wastewater treatment to improve the process efficiencies, and the need for better indoor air quality at industrial facilities.
The liquid type filtration segment is expected to the largest market, by type for industrial filtration during the forecast period.
The industrial filtration market, by type, is segmented into air and liquid.The liquid filtration segment is driven owing to the increase in demand for zero discharge & zero-emission from manufacturing, and public utilities.
Furthermore, the advanced environmental technologies installed in wastewater treatment plants to treat industrial water is likely to increase the demand for liquid type filtration. The most commonly used technology for liquid filtration is pressure technology and is expected to grow at the highest CAGR during the forecast period.
The nonwoven fabric segment is expected to the largest market, by filter media for industrial filtration from 2020 to 2025. "
Nonwoven fabrics accounted for the highest share of the global industrial filtration market in 2019.The growth of this fabric is due to high absorbency, strength, and reliability.
Nonwoven fabric is the most used filter media. The complex arrangement of fibers, high speed and low-cost manufacturing techniques, and various design possibilities due to the versatility of the structure make them suitable for use in a wide variety of industries such as pharmaceuticals, mineral processing, and others.
North America is expected to lead in the industrial filtration market.
North America is the largest market for industrial filtration during the forecast period.The region has been segmented by country into the US, Canada, and Mexico.
The demand for industrial filtration in this region is driven mostly by applications such as pharmaceuticals, oil & gas, power generation, manufacturing, and process industry.The process industries are the largest industry in North America during the forecast period.
This is due to the increasing demand for filtration in the food & beverage industry for removing dirt, rust, living bacteria, microorganisms, and other contaminants from beverages. Moreover, the increase in regulations for wastewater effluent treatment is likely to drive the market for industrial filtration.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
-- By Company Type: Tier I: 61%, Tier II: 20%, and Tier III: 19%
-- By Designation: C-Level Executives: 56%, Directors: 30%, and Others: 14%
By Region: North America: 40%, Europe: 30%, Asia Pacific: 10%, Middle East & Africa: 10% and South America: 10%
Note: Others include sales managers, marketing managers, product managers, and product engineers.
The tier of the companies is defined based on their total revenue, as of 2017; Tier 1: USD 1 billion, Tier 2: USD 500 million-1 billion, and Tier 3:
The global industrial filtration market is dominated by a few major players that have an extensive global and regional presence. The leading players in this market are Alfa Laval (Sweden), Donaldson (US), Danaher (US), Parker Hannifin (US), Eaton (Ireland), Ahlstrom-Munksjö (Finland).
Research Coverage:
The report defines, describes, and forecasts the global industrial filtration market by type, filter media, product, industry, and region.It also offers a detailed qualitative and quantitative analysis of the market.
The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges.It also covers various important aspects of the market.
These include the analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the industrial filtration market.
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