Northbrook, IL 60062 -- (SBWIRE) -- 10/09/2022 -- The report "Water Filters Market by Media Type (Single & Dual Phase, Multimedia, Cartridge), End-Use Industry (Municipal, Industrial (Oil & Gas, Chemicals & Petrochemicals, Food & Beverages, and Pharmaceuticals)), and Region - Global Forecast to 2023" The water filters market is projected to grow from USD 10.8 billion in 2018 to USD 14.7 billion by 2023, at a CAGR of 6.3%. The growth of this market is attributed to the growing oil & gas, chemicals & petrochemicals, food & beverages, and pharmaceuticals end-use industries.

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86 market data Tables
66 Figures
168 Pages

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The single & dual phase media type segment is projected to have the highest share during the forecast period.
Based on media type, the water filters market has been segmented into single & dual phase, multimedia, cartridge, and others (cloth, ceramic, and stainless steel). Single & dual phase is expected to be the largest media type segment of the market during the forecast period. The single & dual phase media is largely used in pre-filtration processes of water and wastewater. Increasing demand for better quality water and the reuse of wastewater are driving the water filters market growth.

Food & beverages end-use industry segment is projected to register the highest CAGR, in terms of value, during the forecast period.

Based on end-use industry, the water filters market has been segmented into municipal and industrial. Industrial includes oil & gas, chemicals & petrochemicals, food & beverages, and pharmaceuticals. The food & beverages industry is projected to be the largest end-use industry segment of the market during the forecast period. The food & beverages industry uses a very high amount of water for processing and other procedures. Another major market for water filters is the chemicals & petrochemicals industry as this industry requires large volumes of water for utilities, process feed, washing, and other applications.

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Asia Pacific is projected to register the highest CAGR, in terms of value, in the water filters market during the forecast period.
The water filters market has been studied for Asia Pacific, North America, Europe, South America, and the Middle East & Africa. The Asia Pacific water filters market is projected to register the highest CAGR, in terms of value, during the forecast period. Urbanization, modernization, and purchasing power parity of the consumers in this region have contributed to the increased use of water filters in the chemicals & petrochemicals, food & beverages, and pharmaceuticals industries. This is expected to create huge opportunities for the market in Asia Pacific.

Eaton Corporation (US), Suez Water Technologies & Solutions (France), Veolia (France), Dow Water & Process Solutions (US), Evoqua Water Technologies (US), Mann-Hummel (Germany), Pall Corporation (US), Pentair PLC (UK), and Lydall Industrial filtration (US) are the key players operating in the water filters market.

Veolia (US) is one of the leading players in the water filters market. The company has been focusing on organic & inorganic strategies to maintain its leading position in the market. For example, it established the world's biggest sludge treatment and retrieval plant in Hong Kong, with a plan to treat wastewater from 11 wastewater sources. This expansion helped the company increase its geographic reach in the Asia Pacific region. In December 2016, Veolia merged its own sub-division Veolia Water Treatment & Solutions. Veolia, by this merger, expanded its business cycle over industrial, healthcare, and scientific sectors.

Eaton Corporation (US) is the other major player in the water filters market. The company adopted the organic growth strategies to establish its foothold, globally. For example, Eaton Corporation expanded its product portfolio by introducing 4 new products in 2017-18, resulting in high profits for the company. In January 2015, Eaton Corporation acquired Oxalis Group Ltd., which enabled it a long-term strategy to continue offering innovative solutions for industrial and commercial communication markets. This acquisition also helped open up a new business line for Eaton Corporation.

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