Where and Why Investors Are Betting Big on the US$ 56.1 Billion...

Where and Why Investors Are Betting Big on the US$ 56.1 Billion Industrial Air Filtration Market

Posted 2023-12-27 12:29:42

The Industrial Air Filtration Market is experiencing significant growth as the waste management industry seeks to enhance waste treatment facilities and mitigate environmental impact. With increasing concerns over air pollution and its detrimental effects on the planet, the adoption of industrial air filtration systems has become crucial in removing harmful gases and controlling odors. These filtration solutions play a pivotal role in reducing emissions and improving air quality, making them indispensable tools in promoting eco-friendly surroundings.

The industrial air filtration market is securing a valuation of US$ 32.2 billion in 2023 and is projected to reach US$ 56.1 billion by 2033. The market is registering a CAGR of 5.7% during the forecast period.

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Which Industries are Flourishing the Global Market?

The market is influenced by several end-use industries, including:

v Manufacturing: Several manufacturing industries, such as automotive, heavy machinery, and aerospace, are increasing the adoption of effective air filtration systems. These manufacturing companies are increasing the demand for protective equipment, safe working environments, and maintenance cleaning.

v Waste Management: The waste management industry provides waste treatment facilities by increasing the adoption of industrial air filtration. It removes harmful gases, controls odors, and reduces environmental control. Increasing environmental concerns and promoting eco-friendly surroundings are fueling the global market size.

v Power Generation: The power generation industry increased the adoption of industrial air filtration for conventional energy facilities. They are performing better operations by focusing on environmental regulations. The industry continues to surge the demand for industrial air filtration to remove dust and control emissions.

v Pharmaceuticals and Biotechnology: They are preventing contamination and improve better air quality for their manufacturing processes. These industries maintain proper safety, a clean environment, and a better air filtration system.

v Food & Beverages: Manufacturers in the food & beverages sector are increasing the demand for industrial air filtration for food processing, maintaining hygiene, and preventing cross-contamination. They are providing standard quality food & beverages by ensuring safety.

v Metals and Mining: The metals and mining industries are notably growing the demand for industrial air filtration to control emissions, dust, and hazardous chemicals. These filtration are also useful to protect workers and maintain a sustainable environment.

Key Takeaways:

· The industrial air filtration market is predicted to register a CAGR of 5.7% with a valuation of US$ 56.1 billion in 2033.

· In the historical period, the market secured a valuation of US$ 30.6 billion in 2022.

· The United States is estimated to lead the global market by securing a share of 18.6% by 2033.

· Germany is significantly growing the global market size by capturing a share of 3.7% during the forecast period.

· With a share of 4.1%, Japan is anticipated to drive the global market during the forecast period.

· Australia is projected to capture a share of 1.3% in the global market by 2033.

How Key Players are Advancing the Global Market?

The present prominent vendors in regions highly fragment the market. These vendors are performing key roles in the global market by investing millions in research and development activities. These essential players carry unique ideas to innovate improved products that attract consumers' attention.

The essential vendors are upsurging the global market through their marketing strategies and skills. Their marketing tactics are acquisitions, mergers, product launches, partnerships, collaborations, and acquisitions.

Recent Developments in the Global Market

· In 2021, Alfa Laval announced to expand its LNG product portfolio by investing a huge amount in gas combustion in Gulf countries.

· In 2021, Donaldson Company announced its acquisition of Solaris. To expand its revenue, the company provides better filtration solutions to the food and beverages sector.

· In 2021, Eaton announced its newly launched Zero-leak Compact Combo Valve to limit hazardous pollution and safely evaporate harmful vapors.

Industrial Air Filtration Market by Category

By Product:

· Dust Collectors

· Mist Collectors

· HEPA Filters

· CCF

· Baghouse Filters

By Application:

· Cement

· Food

· Cereal ingredients