BANGALORE, India, Feb. 26, 2021 /PRNewswire/ -- The Industrial Filtration Market is Segmented by Type - Air, Liquid, by Application - Manufacturing, Power Generation, Oil & Gas, Pharmaceuticals, Metals and Mining, Process Industry, by Regions & Key players Regional Growth: Global Opportunity Analysis and Industry Forecast, 2021–2026. This report is published on Valuates Reports in the Industrial Material & Equipment Category.
The global Industrial Filtration market size is projected to reach USD 29170 million by 2026, from USD 23870 million in 2020, at a CAGR of 3.4% during 2021-2026.
Major factors driving the growth of Industrial filtration market size are the increasing requirement of a safe working environment in industrial facilities, strict government regulations to curb air pollution, and the rising need to reduce energy consumption across several industrial applications.
This report focuses on Industrial Filtration volume and value at the global level, regional level, and company level. From a global perspective, this report represents the overall Industrial Filtration market size by analyzing historical data and future prospects. Regionally, this report focuses on several key regions: North America, Europe, Japan, China, Southeast Asia, India, etc.
TRENDS INFLUENCING THE GROWTH OF INDUSTRIAL FILTRATION MARKET SIZE
Increasing environmental impact and health issues are expected to drive the growth of the industrial filtration market size during the forecast period.
Favorable government regulations relating to emission standards coupled with the implementation of employee health and safety regulations are expected to increase the growth of industrial filtration market size. The growth in the industrial and manufacturing units, the automotive and commercial sectors has led to the introduction of several regulations relating to industrial air filtration. In addition, the global adoption of the Kyoto Protocol in an attempt to minimize greenhouse gas emissions, by embracing the principle of industrial air filtration is expected to fuel the industrial air filtration market size.
Technological advances in the industrial air filtration system are expected to propel the industrial filtration market size. Modern industrial air filtration products allow designers and plant managers of filtration systems to reduce operating costs and realize energy savings, as well as comply with the necessary quality standards. For example, the use of inhibited oxidation in wet scrubbers offers numerous benefits, such as low reagent expense, and low reagent use. The use of such sophisticated technologies and mechanisms is expected to drive the industrial air filtration market over the forecast period.
Due to the rise in demand for zero discharge & zero-emission from manufacturing and public utilities, the liquid filtration segment is expected to hold the largest industrial filtration market share. Strict government regulations to filter pollutant discharges into water bodies are expected to drive the growth of the liquid type industrial filtration market by investing in wastewater treatment plants. In addition, the market for liquid filtration is likely to be increased by advanced environmental technology installed in wastewater treatment plants to treat industrial water.
Based on the Application, the power generation segment is expected to hold the largest industrial filtration market share during the forecast period. As industrial air filtration systems help control harmful, dangerous, and radioactive gas sources, the market is expected to witness considerable growth. In addition, power generation plants have to mandatorily maintain air and gas flow rates within the environmental limits, resulting in increased use of such purification equipment.
Based on the region, North America is expected to hold the largest industrial filtration market share, this dominance of North America is attributed to the strict emission regulations accompanied by the need for clean indoor air facilities in the region.
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SIMILAR REPORTS :
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