Industrial Air Filtration Market Is Anticipated To Grow At A CAGR of 6.7% By 2025

The global industrial air filtration market size is expected to reach USD 18.2 billion by 2025, expanding at a CAGR of 6.7% over the forecast period, according to a study conducted by Grand View Research, Inc. Growing demand for high-performing, energy-efficient products is expected to catapult demand over the forecast period. Technological advancements have resulted in the manufacturing of a new filter media to meet demand for energy-efficient products. This, in turn, has instigated the development of innovative raw materials such as small fibers and is anticipated to provide new avenues for industry growth.

Soaring electricity consumption has led to the development of new power generation plants, which is expected to be a key factor positively affecting market demand for industrial air filtration equipment. Furthermore, implementation of stringent government regulations in order to protect human health by limiting or eliminating airborne pollutant concentrations will further aid in catapulting the market.

Companies across the globe are turning toward sustainable alternatives and methodologies such as green manufacturing in order to improve competitive advantage and increase revenues. Similarly, governments across the globe are collaborating with numerous environmental organizations for developing standards to control harmful emissions. These standards have contributed to the expansion of the industrial air filtration market size across regions.

However, lack of social responsibility and awareness may pose a challenge to market growth. End-use industries often lack responsibility toward society and refuse to spend extra capital investment for installing air pollution control devices, which is expected to hamper product demand over the next few years. Equipment purchase decisions are often based on product purchase price, which is further expected to pose a challenge to market growth.

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Further key findings from the report suggest:

• By product, the dry scrubbers segment is expected to exhibit a CAGR of more than 8.0% over the forecast period. Dry scrubbers generate minimal waste, leading to elimination of complex sanctioning procedures along with plummeting capital and operating costs
• Demand for air filters in the power segment accounted for over 18.0% of the global market in 2018 and the segment is expected to witness steady growth over the next few years. The power sector has to comply with several government regulations, including EPA and OSHA standards
• Asia Pacific accounted for over 25.0% of the overall revenue in 2018 and is expected to witness substantial growth over the forecast period. This is accredited to high penetration of these products across the metal and plastic industry, coupled with increased R&D spending in the Asia Pacific food and beverage industry
• Key players such as Honeywell International, Inc.; MANN+HUMMEL; Daikin Industries, Ltd.; Clean TeQ Holdings Limited; 3M; and SPX Corporation have enhanced their market position through mergers and acquisitions and expanded their geographical reach.

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