Global industrial air filtration market size worth USD 7.12 billion by 2022
Published Date: April 10, 2016 Author: Global Market Insights, Inc.
Global industrial air filtration market size is set to be valued at USD 7.12 billion by 2022, as per a new research report by Global Market Insights, Inc. Strict government norms related to health & safety is anticipated to drive the industry growth. Increasing product penetration with high efficiency and performance features is also expected to propel demand for the next six years.
Strong industrial and infrastructure investment, coupled with increasing environmental consciousness among consumers will fuel the industrial air filtration market size through the forecast timeframe.
Air is required to be filtered of the harmful substances as well as the suspended matter before it is released across a number of industrial applications. Operating an efficient production facility enables in higher production volumes and also aids in improving quality at lower cost.
Dust collectors industry revenue was estimated at USD 867 million in 2014, with 8.7% CAGR expectation up to 2022. Biological contaminant reduction in filter media and reduction in pressure drop is also expected to positively impact demand over the next six years.
HEPA filters market size is forecast to grow faster than the global average from USD 921.2 million in 2014. Removal of contaminants, droplets, and sub-micron particles by utilizing diffusion as well as techniques involving progressive particle attraction along with high efficiency offered by these filters is anticipated to drive industrial air filtration market share.
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Key insights from the report include:
- Asia Pacific, predominantly, China and India industrial air filtration market size is forecast to be the most attractive region, with USD 1.7 billion revenue target by 2022.
- Swift urbanization across the region, and strong pharmaceutical production indicators to meet the domestic trade demands should regional air filtration system growth through forecast period.
- Europe industrial air filtration market size is forecast to be valued at around USD 1.9 billion by 2022. Stringent regulatory norms regarding emission control should play a pivotal role in driving regional growth.
- U.S. industrial air filtration industry is set to witness over USD 1.35 billion revenue by 2022. High installation and operational cost involved in implementation of these systems may challenge regional demand through forecast period.
- The food industry accounted for over 20% of the global revenue in 2015. Cross contamination, food handling and sanitary regulations are projected to increase demand from 2015 to 2022.
- Metal applications should gain prominence as the industry evolves, with 8.8% CAGR growth anticipation from 2015 to 2022.
- Companies dominating industrial air filtration market share include AAF International, Absolent Group (& Bristol), Andrew Industries Limited, BWF Group, Camfil Group, Clarcor, Cummins, Donaldson Company, Flanders Corporation, and Flow Air.