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Industrial Filtration Market Drivers Application of Strict Regulations
HYDERABAD, TELANGANA, INDIA, October 28, 2022 // — IndustryARC in its latest report predicts the size was valued at $24.2 billion in 2020, and is expected to grow at a CAGR of 4.5% during the period 2021-2026. The growth is mainly attributed to increased investments to reduce pollution and improve process efficiency for the need for better indoor quality in industrial premises. Strict government standards on industrial waste emission and treatment will further boost the adoption of electrostatic precipitator which acts as a filtration system in industries, thereby boosting the industrial filtration market during the forecast period. Adoption of bag filters and filter press technologies to improve centrifugal filtration of liquids will be a major driver of market growth. Increased preference for charcoal/activated carbon based filters due to improved capabilities will also drive the market growth. The report offers a comprehensive analysis of the market, its main segments, growth factors, trends, drivers and challengers, key players and more.
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Key points to remember:
1. APAC dominated the industrial filtration market in 2020 owing to rapid industrialization and high investment in the adoption of filtration equipment.
The increasing adoption of bag filters for large-scale industrial applications to remove suspended solids from liquids is expected to drive the industrial filtration market.
2. Strict regulations to minimize air and water pollution from ozone gas emissions, industrial waste also propel the industrial filtration industry.
3. The adoption of activated carbon filters in the water treatment industry to remove chlorine and other effluents has been driving the industrial filtration market.
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Segmental analysis:
1. Liquid filtration held the leading market share of 56.3% in 2020. Strict government regulations in order to filter discharged water from industries and high investments for the adoption of these filters have boosted the market for industrial filtration.
2. Oil & Gas is the leading end-user in the industrial filtration market and is expected to grow at a CAGR of 1.0%. The adoption of filtration systems in the oil and gas industry for upstream, midstream and downstream applications is poised to drive the market as it helps reduce operating costs and improve efficiency process.
3. APAC led the industrial filtration market in 2020 with a market share of 35.3%, followed by North America and Europe. High adoption of industrial filters in APAC countries such as China, Japan, India and other countries is expected to boost the industrial filtration industry as they have more industries, especially in China as it is the manufacturing center of various industries.
Competitive Landscape:
Top 5 Industrial Filtration Industry Players are –
1.Alfa Laval
2. MANN+HUMMEL
3. Parker Hannifin Corp.
4. Donaldson
5. Ahlstrom-Munksjo
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Related reports:
A. Self-cleaning filters market
B. Air Filtration Market
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