Boston, MA -- (SBWIRE) -- 05/19/2017 -- Filtration and Contamination Control Market by Filtration Type (Liquid, Air), Customer Type (Aftermarket, OEM), Application (Engine, Industrial Machinery, Oil and Gas, Aerospace, Gas Turbine, Power Generation), and Geography - Global Forecast to 2022
"Global filtration and contamination control market expected to grow at a significant rate during the forecast period"
The global filtration and contamination control market is expected to grow at a CAGR of 5.13% between 2017 and 2022 to reach USD 39.73 billion by 2022. Increasingly restrictive environmental regulations by governments, promoting the use of cleaner fuels; steady demand for filtration across on-road and off-road applications; growth of the power generation sector; and requirement of higher efficiency performance among mechanical equipment and factory processes are the key factors driving the growth of the filtration and contamination control market. However, the increase in demand for electric vehicles is a key restraint for the growth of the said market.
Get More Details on this Report and a Full Table of Contents at Filtration and Contamination Control Market - Global Forecast to 2022
"Liquid filtration held the largest market share in 2016"
Liquid filtration is used in almost every industry for the purification of solid-liquid and liquid-liquid raw materials to improve the quality of products. It is also used for removing harmful impurities from the waste before disposal. The dependency of vast end-user application areas on liquid filtration systems is the prime reason for the largest market share of the liquid filtration segment.
"Filtration and contamination control market for industrial filtration expected to grow at the highest rate during the forecast period"
The industrial application segment is currently analyzed as the largest consumer of filtration devices, and related engineering products and services. Across this segment, the industrial machinery application is estimated to lead the industrial filtration market owing to the high rate of deployment and diffusion of filtration devices, especially across chemical and petrochemical refineries and metal manufacturing industries.
"North America expected to hold a major share of the market during the forecast period"
The North American region is expected to hold a major market share as this region is home to some of the key manufacturers of filtration devices and related engineering technologies-Donaldson Company, Inc. (U.S.), Pall Corporation (U.S.), Cummins Inc. (U.S.), and Clarcor Inc. (U.S.), among others. The market in APAC is expected to grow at the highest rate during the forecast period. China, India, Japan, Thailand, Singapore, Malaysia, and other countries play a significant role in the filtration and contamination control market. High industrialization and urbanization in developed and developing countries and construction of new thermal and nuclear power plants are expected to further drive the growth of the filtration and contamination control market across this region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key experts in the filtration and contamination control marketspace. The breakup of the profiles of primary participants is given below:
-By Company Type: Tier 1-50%, Tier 2-35%, and Tier 3-15%
-By Designation: C-Level Executives-35%, Directors-45%, and Others-20%
-By Region: North America-40%, Europe-35%, APAC-20%, and RoW-5%
The report profiles the key players in the filtration and contamination control market with their respective market ranking analysis. The prominent players profiled in this report are MANN+HUMMEL Holding GmbH (Germany), Donaldson Company, Inc. (U.S.), Cummins Inc. (U.S.), Parker-Hannifin Corp. (U.S.), Pall Corporation (U.S.), Clarcor Inc. (U.S.), Filtration Group Corporation (U.S.), Eaton Corporation plc (Ireland), HYDAC International GmbH (Germany), and CECO Environmental Corp. (U.S.).
This research report categorizes the global filtration and contamination control market on the basis of filtration type, customer type, application, and region. The report describes the market dynamics that include key drivers, restraints, challenges, and opportunities with respect to the filtration and contamination control market and forecasts the same till 2022. Porter's five forces analysis has also been included in the report with the description of each of the forces, along with their respective impact on the filtration and contamination control market.
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