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Vendors in Industrial Filtration Market Alter Business Models to Deal with COVID-19 Impact

Sep 29, 2023 3:52 PM ET

Vendors in Industrial Filtration Market Alter Business Models to Deal with COVID-19 Impact

Industrial Filtration Market Overview:

According to Market Research Future (MRFR), the global Industrial Filtration Market is projected to reach an USD  44,504.1 Million by 2030, growing at a whopping CAGR of 5.8% during the review period (2023 – 2030). The proliferation of industrial automation and data centers is a major driving force behind the industrial filtration market growth.

The global industrial filtration market is growing at a rapid pace, mainly due to drastically rising pollution levels. Spurring rise in industrialization worldwide impacts the market growth positively, increasing levels of various harmful gases & liquids released in the environment.

Industrial Filtration Technology Demonstrates Tremendous Market Opportunities

The market is primarily driven by the increasing industrial manufacturing and infrastructure development activities due to economic growth across the globe. Besides, rising mining activities and coal capacities and increasing demand for reliable power supply escalate the industrial filtration market size. Furthermore, government initiatives promoting filtration uses in process and manufacturing industries drive the growth of the market.

Industrial Filtration Market Competitive Analysis

Key players active in the market are-

Parker Hannifin Corp (US), Alfa Laval (Sweden), Camfil (Sweden), Ahlstrom-Munksjö (Sweden), Lenntech B.V. (the Netherlands), MANN+HUMMEL (Germany), Pall Corporation (US), Sidco Filter Corporation (US), Filtration Group Corporation (US), Donaldson Company (US), Freudenberg Group (Germany), Cummins Inc. (US), and Eaton (Ireland) among others.

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Key Boosters and Main Barriers

Industrial revolution has been a significant event when it comes to growth of various industries in diverse domains. The increasing industrialization across the globe is deemed to be a chief growth inducer in the industrial filtration market. Moreover, various environmental agencies and government are imposing policies and regulations to bring down the carbon emission level in air as well as water, which induces massive growth in the global market.

At present, a variety of liquid and air borne contaminants along with welding fumes are emanated from industries like pharmaceuticals and food & beverages, which need to be urgently addressed. Therefore, government imposed regulations are helping reduce the toxic contents coming from industrial contaminants such as particulate materials, liquids, industrial fumes and gases, which can benefit the industrial filtration market in the long run.

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Industrial Filtration Market Segmentation:

The market is segmented into types, media, end-use industry, and regions. The type segment is sub-segmented into liquid filters and air filters. Of these, the liquid filter segment accounts for the largest market share owing to stringent government regulations against water pollution.

The media segment is sub-segmented into metals, fiber papers, fiber glasses, non-woven fabrics, activated charcoal/carbon, and others. The end-use industry segment is sub-segmented into pharmaceutical, power generation, oil & gas, manufacturing, and others. The region segment is sub-segmented into Asia Pacific, Americas, Europe, and rest-of-the-world.

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COVID-19 Impacts

The COVID-19 outbreak impacted the industrial filtration industry positively. The coronavirus being an urban phenomenon underscored the importance of safe drinking water & sanitation, and clean air. Especially, populaces living in slums and peri-urban areas stand vulnerable to diseases like the COVID-19.

Industrial Filtration Market Regional Analysis

The Asia Pacific region leads the global industrial filtration market. Factors such as the rapid industrialization and increasing government initiatives for minimizing harmful industrial gas emissions and water pollution drive the market growth. Besides, the rising awareness for safety and implementation of air filters for restricting harmful industrial gases boosts the region’s industrial filtration market size. The presence of key technology providers and early adopters of advanced filtration technologies influence the industrial filtration market share.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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