The global industrial filtration market size is projected to reach USD 41.1 billion by 2025, from an estimated value of USD 29.5 billion in 2020, growing at a CAGR of 6.9 % during the forecast period.
Northbrook, IL -- (SBWIRE) -- 09/28/2021 -- The global industrial filtration market size is expected to grow from an estimated revenue of USD 29.5 billion in 2020 to USD 41.1 billion by 2025, at a CAGR of 6.9% during the forecast period. An upsurge in the investments in the digitization of filtration technologies is expected to drive the industrial filtration industry growth during the forecast period. Effective monitoring of operational performance and collection of real-time data for avoiding unplanned machine downtimes, increases the efficiency and operational life of the machines. This boosts the industrial filtration market as well.
North America is expected to be the largest industrial filtration market
The most significant industrial filtration market, globally, during the forecast period is North America. The growth of this region is driven by increasing demand for industrial filtration to provide a safe working environment for indoor facilities. The manufacturing industry are the largest sector in the region as they grow the operational life for machines and equipments. Moreover, this region also houses some of the major manufacturers who continuously focus on R&D to innovate new technologies.
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By industry, the industrial filtration market is segmented into manufacturing, power generation, oil & gas, pharmaceuticals, metal & mining, and process industry. The manufacturing industry is expected to be the largest market from 2020 to 2025. It includes machinery & equipment, chemical, electrical & electronics (includes semiconductors), and pulp & paper industries. The machinery & equipment manufacturing industry uses industrial filtration for adsorption of corrosive gases, dust protection, treatment of cooling and process water, and for filtration of cooling lubricants and washing fluids. In chemical industry, use of industrial filtration helps in catalyst support, pollution control, wastewater filtration, and for filtration of a wide variety of chemicals. This is likely to drive the demand for industrial filtration market.
The Filter Press segment is expected to be the fastest-growing market of the industrial filtration market
The industrial filtration market, based on the filter media, is segmented to metal, activated carbon/charcoal, fiberglass, filter paper, non-woven fabric, and others. The non-woven fabric segment is expected to grow at the highest CAGR during the forecast period. The strength and reliability of the fabric to remove microorganisms from liquids spurs the growth of this segment. The softness, strength, absorbency, resilience, and elasticity of non-woven fabrics make them appropriate for use in various industries such as pharmaceuticals, mineral processing, and others.
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A few major players that have a strong presence and dominate the industrial filtration market market. The leading players in the Industrial Filtration Market include Danaher (US), Alfa Laval (Sweden), Eaton (Ireland), Ahlstrom Munksjö (Finland), Donaldson (US), Parker Hannifin (US).
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