MRRSE has added a new research report on the "Global Market Study on Dust Control: Wet Type Dust Control System to Expand at a High CAGR from 2016 to 2024" to its collection.
Albany, NY -- (SBWIRE) -- 01/12/2017 -- The global dust control market is estimated to account for US$ 17.41 Bn in terms of value by the end of 2024, expanding at a CAGR of 3.6% during the forecast period (2016–2024). Global sales of dust control systems is estimated to be valued at US$ 12.3 Bn by the end of 2016, up 2.9% Y-o-Y. The mining sector is expected to account for bulk of the demand in the dust control market by the end of 2016. Of all the global markets, North America is estimated to account for the largest market share of 28.2% in 2016 and is expected to expand at a value CAGR of 2.3%.
Global demand for dust control systems is fueled by several key factors such as – growth of mineral processing industries in India, infrastructural development activities such as road construction, high rise constructions etc., and national policies and regulations mandating the use of dust control systems at locations vulnerable to fugitive dust. However, lack of strict policies and weak mandates to control dust in some of the developing nations are factors anticipated to adversely hamper growth of the dust control market in certain markets across the globe over the forecast period.
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Companies across the globe are emphasizing on providing customized products as per requirement. With the rise in awareness and responsibility to prevent dust, use of dust control equipment has increased manifold across many industries and activities and there is an increase in the demand for dust control equipment with customized specifications.
Segmentation-wise market forecast
The global dust control market is segmented on the basis of System Type (Dry Type Dust Control System, Wet Type Dust Control System); and on the basis of Application Type (Chemical & Processing, Construction, Mining, Power & Utilities, Oil & Gas, Pharmaceuticals, Others (Food, Metal & Finishing)).
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In terms of value, the Wet Type dust control system segment is expected to expand at a relatively high CAGR over the forecast period, attributed to increasing use of wet type dust control systems in energy and power industries. The Wet Type dust control segment is estimated to be valued at US$ 12.05 Bn in 2016 and is expected to witness increase in Y-o Y growth rates ranging from 2.9% to 4.3% over the forecast period, registering a CAGR of 4.5%. The Dry Type dust control system segment is estimated to be valued at US$ 223.1 Mn by 2016, expanding at a CAGR of 4.1% over the forecast period. The Construction segment is estimated to account for a revenue share of 25.0% in 2016 (estimated to be valued at US$ 2.1 Bn in 2016) and is expected to expand at a CAGR of 4.9% in terms of value over the forecast period. The Mining segment is projected to witness Y-o-Y growth rates ranging from 2.9% to 4.2% over the forecast period and is slated to exhibit a CAGR of 4.4%.
The global dust control market is segmented on the basis of Region into Asia Pacific Excluding Japan (APEJ), North America, Western Europe, Latin America, Eastern Europe, Middle East & Africa, and Japan. In terms of value, the APEJ market is estimated to account for 23.5% revenue share by 2016. The dust control market in APEJ is expected to witness Y-o-Y growth rates ranging from 2.6% to 4.4%, registering a CAGR of 4.5% in terms of value over the forecast period. The Western Europe dust control market is projected to expand at a CAGR of 4.6% over the forecast period.
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Top market players
Some of the leading companies operating in the global dust control market are Global Road Technology, Quaker Chemical Corporation, Donaldson Company, Inc., Nederman Holding AB, Camfil, JKF Industri A/S, Beltran Technologies, Inc., and Sly Environmental Technology Ltd.
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