PUNE, India, March 27, 2017 /PRNewswire/ --
According to the market research report "Filtration and Contamination Control Market by Filtration Type (Liquid, Air), Customer Type (Aftermarket, OEM), Application (Engine, Industrial Machinery, Oil and Gas, Aerospace, Gas Turbine, Power Generation), and Geography - Global Forecast to 2022", published by MarketsandMarkets, the market is expected to reach USD 39.73 Billion by 2022, at a CAGR of 5.13% between 2017 and 2022.
Browse 66 market data Tables and 59 Figures spread through 150 Pages and in-depth TOC on "Filtration and Contamination Control Market"
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The growth of this market is attributed to the increasingly restrictive environmental regulations across the globe, steady demand for filtration across on-road and off-road vehicles, and requirement of higher efficiency performance among mechanical equipment and factory processes
The market for liquid filtration expected to grow at the highest rate during the forecast period
The global filtration and contamination control market for liquid filtration is expected to grow at the highest rate during the forecast period. Liquid filtration is used in almost every industry for the purification of solid-liquid and liquid-liquid raw materials to improve the quality of products. The dependency of vast end-user application areas on liquid filtration systems to remove the contaminants and improve the equipment lifespan and performance is the prime reason for the huge adoption of liquid filtration.
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Aftermarket customer type held the largest share of the filtration and contamination control market in 2016
Aftermarket customers accounted for the largest share of filtration and contamination control products in 2016 across all the industries. The market is expected to be driven by the high rate of deployment of replacement filters, especially across automobiles, chemical and petrochemical refineries, oil & gas, and process industries.
The market for industrial application segment estimated to grow at the highest rate during the forecast period
The industrial application segment is currently analyzed as the largest consumer of filtration devices, and related engineering products and services. This segment sees high growth potential across industrial machinery, oil & gas, aerospace, gas turbine, power generation, semiconductor, and paints and coatings, among other industries. Among these industrial applications, the industrial machinery application is estimated to lead the industrial filtration market, in terms of market share, owing to the high rate of deployment and diffusion of filtration devices across chemical and petrochemical refineries.
North America held the largest market share in 2016
North America held the largest share of the filtration and contamination control market in 2016, followed by Europe and APAC. The growth of the North American market is driven by the presence of key manufacturers of filtration products, such as Donaldson Company, Inc. (U.S.), Pall Corporation (U.S.), Cummins Inc. (U.S.), Parker-Hannifin Corp. (U.S.), Filtration Group Corporation (U.S.), and Clarcor Inc. (U.S.). Additionally, the adoption of cleaner fuels due to stringent policies on environmental emissions, strong demand from oil & gas and aerospace industries, and continuous upgradations in the power generation sector are expected to drive the growth of the market in North America. The U.S. held the largest share of the North American filtration and contamination control market.
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Major players in the global filtration and contamination control market are MANN+HUMMEL Holding GmbH (Germany), Donaldson Company, Inc. (U.S.), Cummins Inc. (U.S.), Parker-Hannifin Corp. (U.S.), Pall Corporation (U.S.), Clarcor Inc. (U.S.), Filtration Group Corporation (U.S.), Eaton Corporation plc (Ireland), HYDAC International GmbH (Germany), and CECO Environmental Corp. (U.S.).
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