Exactitude Consultancy Press release: Global industrial filtration market

The global Industrial filtration market is growing increasingly because of increasing global population and urbanization.

The Industrial Filtration Market is expected to grow at 6.00% CAGR from 2022 to 2029. It is expected to reach above USD 50.37 Billion by 2029 from USD 29.50 Billion in 2020.

Filtration Process is a separation technique used in many industries such as chemical and petrochemicals, metals and mining, and pharmaceuticals where impurities present in air and fluid are removed. These impurities are removed by adding a barrier layer between airflow and fluid flow. As the global population is increasing along with significant urbanization the need for clean energy, pure water, safe food supplies and advanced medical services for all mankind is increasing.

Advance in healthcare industry creating demand for sophisticated industrial filtration system.

Revolutionary advances in the pharmaceutical and life sciences industries have extended human lifespans and provided a healthy and productive lifestyle. As a result, fields such as diagnostics and medical research that use these filtration technologies use these filtration technologies such as microfiltration and ultrafiltration instead of chemical technologies to maintain product safety and health. Things are increasing. Therefore, growth in the healthcare sector is expected to drive market growth.

Millennials are increasingly concerned with their health and well-being. According to a Thompson Reuters survey, about 58% of consumers would prefer organic food over conventional products when given the choice. This factor has led the food processing industry to include organic raw materials in manufactured foods. The contents of these food products require purity with low residue levels achieved by reducing contamination levels through secondary processing, including these filtration processes. In addition, these food manufacturers will also have to comply with wastewater treatment regulations, which will further grow the market.

Explore 188 market data Tables spread through nearly 125 Pages and in-depth analysis on “Industrial Filtration Market by Type (Air and Liquid), by Product (Filter Press, Bag, Drum, Depth, Cartridge, HEPA, ULPA), by Filter Media (Activated Charcoal, Fiberglass, Filter Paper, Metal, Nonwoven Fabric) and Region, Global trends and forecast from 2022 to 2029” With Table of Contents

High usage of energy during industrial filtration process impeding market growth.

A key challenge affecting the growth of the market is the significant energy use in Industrial Filtration. Processes such as ultrafiltration and centrifugal filtration represent a significant amount of energy used in the process industry. With energy costs on the rise worldwide, this factor severely affects the profit potential of manufacturers, thus creating opportunities for other processes than filtration. This is expected to reduce the growth potential of the market.

The increasing adoption of Industry 4.0 is furthering the growth of digitization in industrial filtration.

The digitization of filter products is an important growth opportunity as it contributes to real-time monitoring of industrial filters. The filters are installed with sensors that register the charge status of the air purifier and transmit maintenance information to the plant operator. This process contributes to optimal maintenance planning by avoiding unplanned downtime. Filters connected to sensor technology can be replaced at a specific time. It also eliminates the risk of using filters that are too old, ensuring the longest machine life.

The increasing adoption of Industry 4.0 is furthering the growth of digitization in industrial filtration, which has helped manufacturers effectively monitor operational performance and collect data over time real time. As a result, the data collected helps analyse system performance, predict maintenance needs and downtime, gather system overview information, automate workflows, help track and easier analysis.

North America region is expected to show higher market growth in the forecast period.

During the projected period North America is the largest shareholder in the global industrial Filtration Market and is expected to grow at a CAGR of 5.2% during the forecast period. The largest part has to do with increased investment in the manufacturing sector to control hazardous particulate emissions and stringent regulations to control air pollution that are driving the market in the region. The United States has one of the world’s dirtiest energy industries, with coal used for 26.86% of total electricity production. Thus, this factor will provide enough opportunities for the industrial filtration market in the region during the projected period.

COVID-19 pandemic had a significant impact on the Industrial filtration market.

COVID-19 has not only impacted the healthcare sector, but has also had a major impact on the global economy. It has had a significant economic impact on various financial and industrial sectors, such as tourism and travel, manufacturing and aviation. It is also assumed that the global economy will enter a recession, causing billions of dollars in losses. With more and more countries imposing and extending lockdown measures, economic activities are expected to continue to decline, which in turn will impact the global economy.

Industrial Filtration Market Players

The Industrial Filtration Market key players include MANN + HUMMEL, Danaher, Parker-Hannifin, 3M, EATON, DONALDSON, Alfa Laval, Camfil, HYDAC, Lenntech, W.L. Gore, Sharplex.

Key Industry Developments:

• August 2019 – Mann + Hummel announced the acquisition of Hardy Filtration, a Canada-based air filtration company. The acquisition will help Mann Hummer expand the global footprint and manufacturing capacity of its subsidiary, Tri-Dim Filter Corporation.
• December 2018 – Donaldson Company, Inc. started the expansion of its production facility in Wuxi, China. This expansion will add additional production capacity with the site covering a total area of 60,000 sq.m. The expansion is with the view to support the growth in Asia Pacific by expanding air filter manufacturing capacity and adding the company’s first Chinese-based liquid filtration manufacturing capability to the region.

Key Market Segments: Industrial Filtration Market

Industrial Filtration Market By Type, 2020-2029, (Usd Billion), (Thousand Units).

• Air
• Liquid

Industrial Filtration Market By Product, 2020-2029, (Usd Billion), (Thousand Units).

• Filter Press
• Bag
• Drum
• Depth
• Cartridge
• Hepa
• Ulpa

Industrial Filtration Market By Filter Media, 2020-2029, (Usd Billion), (Thousand Units).

• Activated Charcoal
• Fiberglass
• Filter Paper
• Metal
• Nonwoven Fabric

Industrial Filtraton Market By Region, 2020-2029, (Usd Billion), (Thousand Units).

• North America
• Asia Pacific
• Europe
• South America
• Middle East and Africa

Important Countries in All Regions Are Covered.

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