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. The increasing demand for energy-efficient and high-performance products is expected to boost the market growth. Additionally, technological development in new filter media is projected to bode well with the market growth.
The rising electric energy consumption is leading to the development of power plants. 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. Additionally, government authorities are collaborating with environmental agencies to develop emission control standards. All these key initiatives are projected to expand the growth of the industrial air filtration market.
However, the lack of awareness regarding environmental sustainability may hamper the market growth. The companies tend to spend large capital on deploying an air control system which is expected to limit the market growth.
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Further key findings from the report suggest:
• Depending on product, dry scrubbers type segment is projected to grow at a CAGR of over 7.5% during the forecast period. The dry scrubbers help to reduce overall operational costs and generate minimum waste.
• Power end-use segment constituted for market share of 19.0% and it is projected to grow at a substantial rate from 2020 to 2027.
• In 2019, Asia Pacific holds the largest share of over 25.0% in the overall market.
• Key players in the industry are MANN+HUMMEL;Honeywell International, Inc.; 3M; Daikin Industries, Ltd.; SPX Corporation; and Clean TeQ Holdings Limited. These companies focus on strategic acquisitions to expand their reach across the world.
Million Insights has segmented the global industrial air filtration market based on product, end-use and region:
Industrial Air Filtration Product Outlook (Revenue, USD Billion, 2016 - 2027)
• Dust Collectors
• Oil Mist Collectors
• HEPA Filters
• Cartridge Collectors & Filters (CC&F)
• Baghouse Filters
• Welding Fume Extractors
• Wet Scrubbers
• Dry Scrubbers
Industrial Air Filtration End-use Outlook (Revenue, USD Billion, 2016 - 2027)
• Paper & pulp and Woodworking
Industrial Air Filtration Regional Outlook (Revenue, USD Billion, 2016 - 2027)
• North America
• Asia Pacific
• South Korea
• Latin America
• Middle East & Africa
• South Africa