The air treatment market is expected to be worth USD 17.39 billion by 2018 and USD 25.56 billion by 2023, growing at a CAGR of 8.00%
NEW YORK, Oct. 3, 2018 /PRNewswire/ -- Air treatment market to grow at significant CAGR between 2018 and 2023
The air treatment market is expected to be worth USD 17.39 billion by 2018 and USD 25.56 billion by 2023, growing at a CAGR of 8.00% during the forecast period. Factors driving the growth of the air treatment market include increasing industrialization and urbanization, stringent regulations governing emissions and treatment of industrial effluents, and the need for achieving high efficiency with mechanical equipment and factory processes. Increasing demand of electric vehicles and alternative sources of renewable energy may act as major restrain for this market.
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HEPA filters technology to hold largest share of air treatment market by 2023
HEPA filters are expected to hold the largest share of the air treatment market based on technology by 2023. The demand for HEPA filters is driven by growing concerns of environmental sustainability, stringent regulations regarding industrial emissions, and health issues related to airborne diseases.
Market for automotive vertical expected to grow at highest CAGR during forecast period
Tightening of emission control regulations and air quality monitoring standards worldwide are likely to act as major drivers for the adoption of air treatment systems in the automotive vertical.Air treatment systems in the automotive industry are required in manufacturing units of vehicles, and components, exhaust emission systems, and in-vehicle cabin air quality applications.
The air treatment market for the automotive vertical is expected to grow at the highest CAGR during the forecast period.
APAC to grow at highest CAGR during forecast period
The market in APAC is expected to grow at the highest CAGR during the forecast period.Increasing population, rapidly growing economies (developed as well as developing), and government initiatives to promote industrial growth have made APAC an ideal manufacturing destination for various sectors—including semiconductors, electronics, and automotive.
Advancements in terms of economic growth, infrastructural developments, and construction of power plants are expected to boost the growth of the air treatment market in APAC in the coming years.
Breakdown of profile of primary participants:
• By Company Type: Tier 1 = 40%, Tier 2 = 25%, and Tier 3 = 35%
• By Designation: C-level Executives = 56%, Directors= 40% and Others=4%
• By Region: North America = 24%, Europe = 21%, APAC = 46%, and RoW = 9%
Freudenberg Filtration Technologies (Freudenberg) (Germany), Donaldson Company Inc (Donaldson) (US), Parker Hannifin Corp. (Parker Hannifin) (US), Ahlstrom-Munksjö (Finland), Mann+Hummel (Germany), Cummins Inc. (US), Camfil Group (Sweden), and Atlas Copco AB (Sweden) are a few key players in the air treatment market.
Research Coverage
The air treatment market has been segmented based on technology, application, product, and geography.By technology, the market has been segmented into HEPA Filters, electrostatic precipitators, activated carbon, UV filters, ionic filters, and conventional filters.
Based on products the market has been segmented into dust collectors, fume/smoke collectors, mist eliminators, engine exhaust systems, fire and emergency exhaust systems, and others.Based on application, the market has been segmented into exhaust air and compressed air applications.
The market based on vertical has been segmented into manufacturing, automotive, power generation, oil & gas, pulp & paper, commercial, and residential. The report also forecasts the market, in terms of value, across 4 regions—North America, Europe, APAC, and RoW.
The report would help leaders/new entrants in this market in the following ways.
1. This report segments the air treatment market comprehensively and provides the closest approximations for the overall market size as well as for the subsegment markets across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them the information on key growth drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their positions in the business. The competitive landscape section includes competitor ecosystem, product launches, partnerships, and mergers and acquisitions carried out in the air treatment market.
Read the full report: https://www.reportlinker.com/p05581103
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