Industrial Filtration Market Size Expected to Grow $45.2 Billion by 2027 | MarketsandMarkets™
Chicago, Feb. 15, 2024 (GLOBE NEWSWIRE) -- The global Industrial Filtration Market size is expected to grow from USD 33.5 billion in 2022 to USD 45.2 billion by 2027, at a CAGR of 6.2% according to a new report by MarketsandMarkets™. The industrial filtration market is driven by various important factors including environmental regulations and policies enacted by the government, requirement for safe working environments in industrial facilities, rising need for equipment dependability and lifespan extension, and development of industry in developing countries.
The North America is estimated to be the largest market for the industrial filtration, followed by Asia Pacific. In Europe, the European Union (EU) has set goals to achieve desired levels of air quality that do not give rise to significant adverse impacts and risks to human health and the environment. The air quality emission norms in Europe focus on the continuous monitoring and assessment of ambient air quality. The law also requires large-scale industrial installations to obtain operational permits for environmental protection. The developing countries in Asia Pacific and the Middle East & Africa are also setting up various environmental emission norms to curb pollution. Such regulations are likely to drive the demand for industrial filtration.
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Industrial Filtration Market Scope:
| Report Coverage | Details |
| Market Size | USD 45.2 billion by 2027 |
| Growth Rate | 6.2% of CAGR |
| Largest Market | North America |
| Market Dynamics | Drivers, Restraints, Opportunities & Challenges |
| Forecast Period | 2022-2027 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Industrial Filtration Market by Type, Product, Filter Media, Industry, and Region. |
| Geographies Covered | North America, Europe, Asia Pacific, South America, and Middle East & Africa. |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Rising focus on energy-efficient filtration products |
| Key Market Drivers | Government mandates and policies for environmental protection |
The filter press segment is projected to be the fastest growing segment in the industrial filtration market.
The filter press uses pressure filtration technology to collect unwanted solid particles. The slurry is pumped into the machine in a way that solid particles are distributed evenly. It is mostly used in metals & mining, water and wastewater treatment plants, food & beverages, chemicals, pharmaceuticals, power generation, and industrial manufacturing. In the food & beverages industry, the use of filter press helps in ensuring consistent lot-to-lot quality is maintained. In power generation plants, the filter press is used for liquid-solid separation.
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Industrial Filtration Market Dynamics:
Drivers:
- Government mandates and policies for environmental protection
- Need for safe working environment in industrial facilities
- Increased demand for equipment reliability and extended lifecycle
- Industrial development in major countries
Restraints:
- Unfavorable economic conditions
- Availability of low-cost and inferior-quality industrial filtration products
Opportunities:
- Growing digital filtration methods in industrial applications
- Rising focus on energy-efficient filtration products
Challenges:
- Limited functionalities
- Frequent replacement and disposal of industrial filters
North America is expected to be the largest region in the Industrial Filtration Industry
The North America region is estimated to be the largest market for the industrial filtration, followed by Asia Pacific. The North American region is expected to lead the industrial filtration market during the forecast period. The increasing investments in the manufacturing industry to control harmful particulate emissions and the rising stringent air pollution control norms are driving the industrial filtration market in the region.
Key Market Players:
Some of the major players in the Industrial Filtration Companies are MANN + HUMMEL (Germany), Danaher (US), Parker - Hannifin (US), 3M(US) and Cummins (US).
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