Thermal Treatment Air Filtration Market to grow by USD 1.29 billion from 2022 to 2027; Expanding water and wastewater treatment to drive the growth- Technavio

NEW YORK, Nov. 22, 2023 /PRNewswire/ -- The thermal treatment air filtration market is expected to grow by USD 1.29 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 5.95% during the forecast period. The market is segmented by end-user (oil and gas, chemicals, transportation, pulp and paper, and metalworking and others), type (RTO, thermal oxidizer, catalytic oxidizer, and RCO), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

Expanding water and wastewater treatment is a key factor driving market growth. High-quality drinking water is crucial to business and industry, as well as consumers themselves. New sources of fresh water in the world are under pressure due to rapid urbanization and population growth. Moreover, municipal water treatment infrastructures are now receiving increasing attention in various European countries which already have state-of-the-art industrial water treatment infrastructure.

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Key Highlights:

• The report recognizes the following as some of the key players in the thermal treatment air filtration market: Accurate Thermal Systems LLC, Air Clear LLC, Anguil Environmental Systems Inc., APC Technologies Inc., Catalytic Products International Inc., CECO Environmental Corp., COLT TECHNOLOGIES INC., CTP Chemisch Thermische Prozesstechnik GmbH., Deuring Group GmbH., Durr AG, FIVES SAS, Freudenberg and Co. KG, Glenro Inc., Koch Industries Inc., Taikisha Ltd., Tellkamp Systems Inc., The CMM Group, and Zeeco Inc.
• Thermal Treatment Air Filtration Market is fragmented in nature.
• Market to observe 5.15% YOY growth in 2023.

Market Dynamics:

Major Trend

• The high demand for end-to-end services is a major trend in the market.
• Some of the world's largest suppliers are primarily offering devices or systems, while others have specialization for catalysts and automation solutions in the thermal treatment air filtration market.
• Furthermore, providers that provide complete product and service solutions are preferred by end users with a high investment in installing equipment as well as requiring maintenance due to lack of knowledge.

Significant Challenge 

• The risk of volatility in natural gas prices is a significant challenge restricting market growth.
• Power companies try to ensure that there is a diversified portfolio of feedstocks, to avoid fluctuations in electricity prices.
• As a result of rising demand and the recovery of the global oil markets, excessive dependence on gas threatens to raise energy prices for consumers.

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Keg Segments:

• The oil and gas segment will account for a major share of the market's growth during the forecast period. With increased fluctuations in crude prices, the global oil and gas sector remains ignitable; this leads to an immediate impact on industry demand mainly due to depressed upstream investment under a currently low-price environment. In the oil and gas sector, the current state of the global air thermal filtration market is considered to be quite stagnant.

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Related Reports:

The combined heat and power (CHP) market size is estimated to grow by USD 9.35 billion at a CAGR of 6.29% between 2023 and 2028. 

The industrial energy efficiency services market size is estimated to grow by USD 2,802.24 million at a CAGR of 4.47% between 2023 and 2028. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio