NEWARK, Del, Sept. 11, 2023 (GLOBE NEWSWIRE) -- According to a Future Market Insights (FMI) report, the adoption of industrial filtration is expected to increase at a CAGR of 16.8% during the forecast period. The industrial filtration market is anticipated to rise from US$ 25,026.6 Million in 2023 to US$ 101,248.3 Million in 2033.
The industrial filtration market plays a crucial role in ensuring various industries' efficient and reliable operation. As the industrial revolution continues to shape economies worldwide, establishing numerous industries across different sectors has increased the demand for filtration solutions.
Industrial filtration involves the separation of solid particles and impurities from liquids and gases to maintain product quality, comply with environmental regulations, and protect equipment and processes.
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This market encompasses various applications, including water treatment, chemical processing, oil and gas, pharmaceuticals, food and beverage, automotive, and many others.
The growing focus on sustainable practices, stringent environmental regulations, and the need for process optimization are driving the adoption of advanced filtration technologies.
As industrialization expands globally, the industrial filtration market is poised for steady growth, providing essential solutions to address diverse industrial challenges and ensuring smooth and environmentally responsible operations.
The industrial air filtration market from metals applications is projected to grow by 6.4% until 2032, driven by rising health consciousness, improved living standards, and increased disposable income. Increased awareness of healthy living and higher air pollution levels contribute to the growth of air purifier sales globally.
The automotive industry is anticipated to grow at a rate of 4.2% over the next decade, leading to high demand for air filters in vehicles. Automotive filters improve engine efficiency, reduce fuel consumption, and are sought after due to increased disposable incomes, environmental awareness, and demand for premium cars.
North America dominates the global industrial filtration market, holding about 25.1% of the market share in 2022. The region's growth is attributed to industry investments to meet regulations, flourishing healthcare and automotive sectors, and stringent safety and environmental protection standards.
APAC is a fast-growing market for industrial filtration. Rapid industrialization, urbanization, infrastructure investments, and increasing demand for automotive products contribute to significant growth in the Asia Pacific region. China is leading with a 17.4% CAGR due to cheap raw materials, labor, and government initiatives to attract investment.
Key Companies Profiled in Industrial Filtration Market Report:
- Eaton Corporation Plc
- Industrial Filtration, Inc.
- Pentair Plc
- Clarcor Inc.
- Mann+Hummel Group
- Filtration Group Company
- 3M Company
- Cummins Filtration
- Freudenberg Filtration Technologies
- Fil-Trek Corporation
- Alfa Laval AB
- Parker Hannifin Corporation
- W. L. Gore & Associates, Inc.
- Donaldson Company, Inc.
- ZwitterCo
- Woosh
- EKOTON Industrial Group
- ESMIL Process Systems
- MI Systems
- MDI Membrane Technologies
“The burgeoning popularity of organic farming coupled with the widespread usage of pesticides and fertilizers has raised notable food safety apprehensions. Consequently, this trend is poised to fuel the demand for advanced filtration systems within the market” - says a lead Future Market Insights (FMI) analyst.
Recent Developments in the Industrial Filtration Market:
Mann + Hummel announced the acquisition of Hardy Filtration, a Canadian air filtration firm, in August 2019. The acquisition assisted Mann Hummer's subsidiary, Tri-Dim Filter Corporation, in growing its global reach and manufacturing capability.
Donaldson Company, Inc. began expanding its manufacturing facilities in Wuxi, China, in December 2018. This extension may increase production capacity, totaling 60,000 square meters. The expansion aims to assist Asia Pacific development by increasing air filter production capacity and introducing the region's first Chinese-based liquid filtration manufacturing capabilities.
Donaldson Inc. has launched the Rugged Pleat industrial dust collector, which can be utilized in numerous grain mining and processing activities.
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About the Industrial Automation Division at Future Market Insights (FMI):
Future Market Insights (FMI) is a highly experienced Industrial Automation team that aids companies from all over the world with their specific business intelligence needs through professional research, actionable insights, and strategic recommendations. With a library of over a thousand research and 1 Million+ data points, the team has spent over a decade analyzing the industrial automation domain across 50+ countries. From start to end, the company provides unrivaled research and consulting services. Please get in touch with us to see how we can help.
Industrial Filtration Market Segmentation:
Industrial Filtration Market by Product Type:
- Air Filters
- Bag Filters
- HEPA
- ULPA
- PTFE Membrane
- Electrostatic Precipitator
- Others
- Liquid Filters
- Strainers
- Cartridge
- Depth Filter
- Others
Industrial Filtration Market by End Use:
- Automotive
- Food and Beverages
- Mining
- Power Generation Plants
- Chemical
- Petroleum
- Pharmaceutical
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Explore Future Market Insights, Inc. Extensive Coverage in Industrial Automation Domain:
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GCC Industrial Air Filtration Market Share: FMI valued the GCC Industrial Air Filtration Market at US$ 407.0 Million in 2021, with a projected 5.7% CAGR to reach US$ 751.4 Million by 2032. Odor control units make up over 1/3rd of the market's total value share.
Depth Filtration Market Growth: The Depth Filtration Market is poised to achieve a value of US$ 5.4 Billion by 2033, with a projected CAGR of 8.5% during the period from 2023 to 2033.
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Water Automation and Instrumentation Market Overview: FMI forecasts the Water Automation And Instrumentation Market to hit US$ 48 Billion by 2033, driven by automation's role in optimizing water treatment processes. It's expected to grow at an 8.1% CAGR from 2023 to 2033.
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