LONDON, Aug. 10, 2016 /PRNewswire/ -- The industrial filtration market is projected to reach a market size of USD 30.78 billion by 2021, growing at a CAGR of 6.1% from 2016 to 2021. Stringent government regulations to reduce greenhouse gas emissions and soil and water pollution are the key driver of the market. The growth of manufacturing industries, especially in the Asia-Pacific and Middle East & African regions, is also expected to boost the industrial filtration market.
"Manufacturing industry to hold the largest share in the industrial filtration market from 2016 to 2021"
The manufacturing industry is estimated to constitute the largest segment of the industrial filtration market, by industry. New manufacturing facilities are being constructed at a rapid rate in emerging economies such as China, India, Indonesia, South Africa, Brazil, and Mexico to meet growing consumer demand. Moreover, emission regulations in developed countries such as the U.S., Canada, the U.K., and Germany are being upgraded to include more rigid emission targets and tackle global warming. These countries are likely to be high-growth markets for industrial filtration during the forecast period.
"Asia-Pacific to dominate the industrial filtration market by 2021"
Asia-Pacific is witnessing significant investments in the construction of new power plants, primarily in China, India, Indonesia, and Thailand. China has always been an attractive destination for manufacturers, due to the easy availability of raw materials, cheap labor, and favorable industry setup regulations; however, India has experienced a tremendous growth in foreign investments in the past two years. The country is also actively changing its policies to attract manufacturers. Most countries in Asia-Pacific are still in the developing stage, and are therefore expected to witness substantial growth in the industrial sector. This will likely drive the demand for filtration systems.
Breakdown of primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of major market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier 1- 60%, Tier2- 27%, and Tier 3- 13%
- By Designation: C-Level- 50%, D-Level- 30%, and Others*- 20%
- By Region: North America- 30%, Latin America- 20%, Europe- 20%, Asia-Pacific- 20%, and RoW- 10%
Note: *Others include sales, marketing, and product managers.
The tier of the companies is defined on the basis of their total revenue; as of 2013: Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 =
Leading players in this industry have been profiled, along with their recent developments and other strategic activities. These include Mann + Hummel GmbH (Germany), Donaldson Company, Inc. (U.S.), Alfa Laval (Sweden), Ahlstrom Corporation (Finland), and Parker Hannifin Corporation (U.S.).
Why buy this report?
- The report identifies and analyzes key markets for industrial filtration, which will help suppliers and OEMs to review production and distribution plans
The report includes an analysis of key countries, by end-use industry, for industrial filtration. The end-use industries studied are power generation, manufacturing, oil & gas, process industry, healthcare & pharmaceuticals, and metals & mining. It analyzes historical trends and also provides a forecast for 2021, which will assist in strategic decision-making
It also highlights the different strategies adopted by market players by analyzing recent market developments, such as key contracts, expansions, and new product launches, by key global market players
Download the full report: https://www.reportbuyer.com/product/4049450/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/industrial-filtration-market-by-type-technology-product-industry-and-by-region---global-trends--forecast-to-2021-300312012.html