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Industrial Filtration Market Outlook 2024: Exclusive Report By The Business Research Company | Danaher Corporation, Parker Hannifin Corporation, Eaton Corporation plc, Donaldson Company Inc
Industrial Filtration Market Trends
The Business Research Company offers in-depth market insights through Industrial Filtration Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The industrial filtration market size has grown strongly in recent years. It will grow from $31.86 billion in 2023 to $34.06 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to growth in industrialization and manufacturing activities, increased awareness of workplace health and safety, expansion of water treatment and wastewater management, need for process optimization and efficiency in industries, rise in concerns about contaminant removal in industrial processes.
The industrial filtration market size is expected to see strong growth in the next few years. It will grow to $44.56 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to focus on sustainable and eco-friendly filtration solutions, adoption of advanced nanofiber and membrane filtration technologies, demand for high-purity filtration in pharmaceutical and biotechnology industries, research and development in next-generation filtration materials and processes, expansion of filtration solutions in growing healthcare and life sciences sectors. Major trends in the forecast period include advanced membrane filtration for liquid and gas separation, nanofiber technology for enhanced filtration efficiency, iot-enabled filtration systems for condition monitoring, high-efficiency particulate air (hepa) and ultra-low penetration air (ulpa) filtration, filtration in 3d printing and additive manufacturing processes.
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Market Segmentation:
The main types of industrial filtration are liquid, air. Liquid industrial filtration refers to filtration systems used for the process of filtering liquid state components. It filters liquid streams with high solids concentration in a continuous process. Liquid filtration is a fundamental unit operation commonly practiced throughout the chemical process, petroleum, and allied industries. These are of various filters such as activated carbon/charcoal, fiberglass, filter paper, metal, non-woven fabric. Industrial filtration main products are bag filter, filter press, cartridge filter, depth filter, drum filter, electrostatic precipitator, ULPA, HEPA. These are used by food & beverage, chemicals & petrochemicals, power generation, oil & gas, pharmaceuticals, metal & mining, automotive industries.
Major Driver - Safe Working Environments Drive Growth In The Industrial Filtration Market
The necessity of a safe working environment in industrial conveniences is expected to propel the industrial filtration market. The industries are full of pollutant substances such as coarse, liquid dust pollutants, acetylene, benzene, methane, ethane, propane, and hydrogen that might degrade the health condition of employees. Due to this, a safe working environment becomes a necessity to ensure the safety and healthiness of employees and enhance their productivity. The government mandates and regulations regarding occupational health and safety are also the reasons to make a safe working environment a necessity. This necessity for a safe working environment will create a significant demand for industrial filtration as it can enable a safe working environment by eliminating contaminating particles from the air and other gases in industrial conveniences. For instance, in January 2023, according to Health and Safety Executive, a UK-based government agency, in the year 2021/22, the number of workers experiencing work-related ill health, whether new or ongoing, increased by nearly 6%, affecting 1.8 million individuals. Among these cases, the most prevalent issue was work-related stress, depression, or anxiety, accounting for 51% (914,000 cases), followed by musculoskeletal disorders at 27% (477,000 cases). Therefore, the necessity of a safe working environment in industrial conveniences is driving the growth of the industrial filtration market.
Competitive Landscape:
Major companies operating in the industrial filtration market include Danaher Corporation, Parker Hannifin Corporation, Eaton Corporation plc, Donaldson Company Inc., Mann+Hummel International GmbH & Co. KG, Sulzer Ltd., Lenntech B.V., Ahlstrom-Munksjö Oyj, Camfil AB, Nederman Holding AB, BWF Envirotec AG, Ahlada Engineering Pvt. Ltd., Boll & Kirch Filterbau GmbH, Lydall Inc., Porvair Filtration Group, Filtration Group Corporation, Graver Technologies LLC, General Electric Company, GVS Group, Columbus Industries Inc., AAF International, Airex Filter Corporation, Freudenberg Filtration Technologies SE & Co. KG, HYDAC Technology GmbH, Kaydon Filtration Corp., Hollingsworth & Vose Company, Avery Filter Company, Midwesco Filter Resources Inc.
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Top Trend - Technological Advancements Reshaping The Industrial Filtration Market
Technological innovation is a key trend gaining popularity in the industrial filtration market. The market is witnessing the implementation of advanced filtration technologies such as spray booth filters, custom-engineered porous polymer solutions, nanofiber technology, and others to enhance life, and efficiency, reduce costs and minimize the environmental impact of industrial wastes. Major companies operating in the industrial filtration market are focusing on providing technologically advanced filtration systems to strengthen their market position. For instance, in February 2022, Veolia Water Technologies, a France-based water treatment solutions company launched he Filtraflo FCP-P, a multimedia pressure filter designed for depth filtration with high dirt-holding capacity. It is suitable for various applications, including industrial, drinking water, and wastewater treatment. This modular, high-performance system is available in different sizes, offers advanced filtration capabilities, and can be optimized for maintenance and control. Veolia's expertise ensures the filters meet rigorous standards, and they can be integrated with Veolia's digital monitoring solution, Hubgrade, for real-time optimization.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Industrial Filtration Market Characteristics
3. Industrial Filtration Market Trends And Strategies
4. Industrial Filtration Market - Macro Economic Scenario
5. Industrial Filtration Market Size And Growth
…..
27. Industrial Filtration Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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