Industrial Filtration Market size was valued at $24.56 billion in 2019, and it is estimated to grow at a CAGR of 4.88% during 2020-2025. The growth is mainly attributed to increasing investments for decreasing pollution and to improve the process efficiency for the need of better indoor quality in industrial premises. Stringent government norms pertaining to emission and treatment of industrial waste will further enhance the adoption of electrostatic precipitator which acts as a filtration system in industries, thereby driving the industrial filtration market during the forecast period.
- APAC dominated the Industrial Filtration market in 2019 owing to rapid industrialization and high investments in adopting the filtration equipment.
- Increasing adoption of bag filters for large scale industries applications to remove suspended solids from liquids is set to boost the industrial filtration market.
- Stringent regulations to minimize air and water pollutions due to emission of ozone gases, industrial waste are also propelling the industrial filtration industry.
- Adoption of activated carbon filters in water treatment industry for removing chlorine, and other effluents has been driving the industrial filtration market.
Technology - Segment Analysis
Liquid filtration held the major market share of 51.36% in 2019. Stringent government regulations in order to filter the water that is discharged from industries and high investments for adoption of this filters has been driving the industrial filtration market. Growing demand for liquid filtration systems for zero emission and zero discharge from manufacturing and other industries. Additionally, the adoption of advanced equipment in water and waste water treatment industry is likely to push the liquid filtrations systems thereby driving the market.
End User - Segment Analysis
Oil & Gas is the key end user in Industrial Filtration market and estimated to grow at a CAGR of 1.28%. Adoption of filtration systems in oil and gas industry for upstream, middle stream, and downstream applications is poised to drive the market as it assists in reducing operating costs and improving process efficiency. As separation of oil, gas, water and the removal of solids contaminants is essential, there is high requirement of filtrations systems. Development of advanced equipment and replacement with new equipment set to create opportunities for the industrial filtration industry.
Geography- Segment Analysis
APAC dominated the Industrial Filtration market in 2019 with a market share of 32.20%, followed by North America and Europe. High adoption of industrial filters in APAC countries such as China, Japan, India and others countries is set to drive the industrial filtration industry as they have more number of industries, especially in China as it is the manufacturing hub for various industries. Additionally various government initiatives have been pushing the industrial filtrations systems industry. For instance, in Indian Government has taken some initiatives such as green skill development program to curb the pollution from industries which set to drive the industrial filtration systems.
Drivers –Industrial Filtration Market
- Enforcement of strict regulations
Implementation of strict regulations due to rising environmental concerns compel industries to install air and liquid filtration equipment. Stringent government regulations regarding limitation of the emissions levels that are supporting the use of industrial filtration systems have been driving the market across global level. For instance, in April 2018, Canada had introduced regulations for cutting of the methane emissions up to 40-45% by 2025 with the baseline of 2012. In addition, the measures by various countries governments for addressing venting and flaring that comes from the upstream oil and gas operations which further drives the air filtration market growth.
- Rapid Industrialization and Increasing funding activities
Increasing industrialization activities and increasing funding for industrial filtration startups and development of new products with advanced technologies. For instance, in 2019, Nanoclean Global Pvt Ltd, a nanotechnology startup which develops industrial filtration devices, had raised $600,000 funding. During the same year, Volz Filters, the U.K. manufacturers of industrial filters had secured a funding of $650k for development of new products and strengthen its business. In addition to these, many research and development activities are going on development of industrial filters with advanced features.
Challenges – Industrial Filtration Market
- Heavy equipment and high costs
One of the major challenge in heavy size and its high cost. In addition to this, the maintenance of industrial filtration systems is difficult as they can’t handle continuous work when the system is not self-cleaned and blocked by waste particles. High capital and maintenance cost hampers the growth of the industrial filtration market. However replacement of traditional filters with advanced featured filters set to provide opportunities for industrial filtration market during forecast period.
Product Launches, acquisitions and R&D activities are key strategies adopted by players in the Industrial Filtration market. Industrial Filtration top 10 companies include Alfa Laval, MANN+HUMMEL, Parker Hannifin Corp, Donaldson, Ahlstrom-Munksjo, Freudenberg, Pall Corporation, Eaton, 3M, Sharp Corporation, and others.
- In October 2019, Parker Hannifin Corp had launched Pro Tura SB which is a nano cartridge filter. It can be used for filtering industrial gases with high efficiency and greater energy savings. It also has greater resistance to moisture in the air stream. The introduction of new industrial filters with various features set to increase the industrial filtration market share.
- In August 2019, Mann+Hummel had acquired Hardy Filtration, a Canadian air filtration company. This acquisition is anticipated to expand the company's global footprint and manufacturing capabilities of the Tri-Dim Filter Corporation, which was acquired by Mann+Hummel in 2018.
1. Industrial Filtration - Market Overview
2. Executive Summary
3. Industrial Filtration – Market Landscape
3.1. Market Share Analysis
3.2. Comparative Analysis
3.3. Product Benchmarking
3.4. End user profiling
3.5. Top 5 Financials Analysis
4. Industrial Filtration – Market Forces
4.1. Market Drivers
4.2. Market Constraints
4.3. Market Challenges
4.4. Attractiveness of the Industry
4.4.1. Power of Suppliers
4.4.2. Power of Customers
4.4.3. Threat of New entrants
4.4.4. Threat of Substitution
4.4.5. Degree of Competition
5. Industrial Filtration - Market Strategic Analysis
5.1. Value Chain Analysis
5.2. Pricing Analysis
5.3. Market Trends and Opportunities Analysis
5.4. Product/Market Life Cycle Analysis
5.5. Regulations and Legislations
5.6. Infrastructure Investments
5.7. Economic Factors Analysis
6. Industrial Filtration – By Technology
6.1. Liquid Filtration
6.1.1. Pressure Filtration
6.1.2. Centrifugal Filtration
6.1.3. Gravity Filtration
6.1.4. Vacuum Filtration
6.2. Air Filtration
6.2.3. Gas Phase
7. Industrial Filtration – By Type
7.1. Liquid Filtration
7.1.1. Filter Press
7.1.2. Cartridge Filters
7.1.4. Bag Filters
7.1.5. Drum Filter
7.1.6. Depth Filter
7.2. Air Filtration
7.2.3. PTFE Membrane
7.2.4. Bag Filters
7.2.5. Electrostatic Precipitator
8. Industrial Filtration – By Filter Type
8.1. Activated Carbon/Charcoal
8.2. Fiber Glass
8.3. Filter Paper
8.5. Non-Woven Fabric
9. Industrial Filtration – By End User
9.2. Power Generation
9.3. Oil & Gas
9.6. Metal & Mining
9.7. Food & Beverage
10. Industrial Filtration – By Region
10.1.1. North Americas
10.1.2. South America
10.1.2.3. Rest of Americas
10.1.3.7. Rest of Europe
10.1.4. Asia-Pacific (APAC)
10.1.4.4. South Korea
10.1.4.5. Australia & New Zealand
10.1.4.6. Rest of APAC
10.1.5.1. Middle East
11. Market Entropy
11.1. New Product Launches
11.2. M&As, Collaborations, JVs and Partnerships
12. Company Profiles (Overview, Financials, SWOT Analysis, Developments, Product Portfolio)
12.1. Company 1
12.2. Company 2
12.3. Company 3
12.4. Company 4
12.5. Company 5
12.6. Company 6
12.7. Company 7
12.8. Company 8
12.9. Company 9
12.10. Company 10
13.3. Research Methodology
13.5. Compilation of Expert Insights