NEW YORK, September 15, 2016 /PRNewswire/ --
The global dust control market is expanding at a CAGR of 3.6% during the forecast period (2016-2024). Global sales of dust control systems is estimated to be valued at US$ 12.3 Bn by the end of 2016, up 4.1% Y-o-Y. The mining sector is estimated to account for a bulk of the demand in the global dust control market by the end of 2016. Persistence Market Research has recently published a report titled "Dust Control Market: Global Industry Analysis and Forecast, 2016-2024", which analyzes the global dust control market and identifies key market drivers and factors impacting growth during the forecast period (2016-2024).
The Growth of mineral processing industries, infrastructural development activities such as road construction, high rise constructions etc., increasing demand for wet suppressant, and national policies and regulations mandating the use of dust control systems at locations vulnerable to fugitive dust are major factors fueling demand for dust control systems globally. However, lack of strict policies and weak mandates to control dust in some of the developing nations specifically in industries such as crusher plants, chemical plants etc.; and a high cost of dust control equipment such as cyclone filter, WESP etc. in developing nations are factors anticipated to adversely hamper growth of the dust control market in certain markets across the globe over the forecast period.
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The global dust control market is likely to witness certain key trends during the forecast period. Integration of smart technology in dust control systems; expansion of leading players' manufacturing facilities and sales networks especially in developing nations; and a substantial investment in innovation and research and development for producing non-petroleum based wet suppressant are some of the trends expected to shape the global dust control market in the coming years.
In terms of value, the Wet Type dust control system segment is expected to expand at a relatively high CAGR over the forecast period, attributed to increasing use of wet type dust control systems in energy and power industries. This segment is estimated to be valued at US$ 12.05 Bn in 2016 and is expected to register a CAGR of 4.5%. The Dry Type dust control system segment is estimated to be valued at US$ 216.8 Mn by 2016, expanding at a CAGR of 3.3% over the forecast period. With a 6% overall market revenue share in 2016, the Dry Type dust control system is estimated to be the largest segment in the system type category and this trend is likely to continue till the end of the forecast period. The Construction segment is estimated to be valued at US$ 2.1 Bn in 2016 and is expected to expand at a CAGR of 4.9% in terms of value over the forecast period. The Mining segment is estimated to account for a market share of 25.0% in 2016 and is expected to be valued at US$ 3.1 Bn by the end of 2016, registering a CAGR of 4.4%. In terms of value, the global dust control market is projected to have a healthy incremental opportunity during the forecast period.
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Among regions, North America is expected to account for the highest share of the global dust control market over the forecast period, owing to increasing demand from industries and construction activities. The market in North America accounts for 29.4% of the global production of dust control systems in the market and is estimated to account for a revenue share of 28.2% by the end of 2016, registering Y-o-Y growth of 3.7% over 2015. Sales of dust control systems in the rest of the world - which includes Eastern Europe, Western Europe, and APEJ - is estimated to be valued at US$ 6.3 Bn by the end of 2016. In terms of value, the APEJ market is estimated to account for 23.5% revenue share by 2016.
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Some of the leading companies operating in the global dust control market are Global Road Technology, Quaker Chemical Corporation, Donaldson Company, Inc., Nederman Holding AB, Camfil, JKF Industri A/S, Beltran Technologies, Inc., and Sly Environmental Technology Ltd. Leading market players are focusing on providing customized solutions to cater to the individual needs of their clients. A common trend observed in the global dust control market is that players are partnering with various research labs and companies for technology support to automate dust control systems and thereby provide efficient and reliable solutions.
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