The global industrial dust collectors market is expected to grow at a CAGR of 5.2% during the period 2017-2021.
The report, Global Industrial Dust Collectors Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
According to the report, one of the major drivers for this market is the increasing global economic activity. Economic growth plays a vital role in the prosperity of a nation. The growth in the economic activity of any country brings with it challenges, such as acidic emissions and pollution. Greater economic activity is supported by increased industrial manufacturing and infrastructure development, which also result in the emission of dust and other gases, such as SO2, NOx, and NH3.
Rising population, coupled with rapid economic growth globally, is expected to increase the demand for energy. As per EIA, global primary energy consumption in 2015 recorded an increase of just 1%, which was significantly less than the 10-year average of 1.9%. Emerging economies accounted for 97% of the global growth in demand for electricity. Despite its decreased consumption, China recorded the largest increase in primary energy consumption worldwide. The growth in electricity demand will result in increasing number of coal power plants, thus adding to the demand for industrial dust collectors.
Further, the report states that one of the major factors hindering the growth of this market is contracting mining industry. The slow growth in the Chinese economy is a major reason for the contracting mining industry. China, on an average, consumes 50% of the total world commodities. Hence, the country's economic slowdown led to an oversupply of commodities, such as iron ore and core. However, the production costs of energy, labor, and equipment remained high. This has resulted in reduced revenues and profits, thus increasing the debt level of mining companies. This is a major challenge for the growth of the industrial dust collectors market as it results in the decrease in mining activities.