Press release
Industrial Filters Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region
Industrial Filters Market
The Business Research Company offers in-depth market insights through Industrial Filters 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 filters market size has grown strongly in recent years. It will grow from $3.22 billion in 2023 to $3.4 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to stringent environmental regulations, rapid industrialization, awareness and concerns for clean energy, focus on occupational safety, globalization of supply chains..
The industrial filters market size is expected to see strong growth in the next few years. It will grow to $4.25 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to growing awareness of air and water quality,industry 4.0 and smart manufacturing,focus on sustainable practices,increasing healthcare concerns,economic and industrial growth in emerging markets.. Major trends in the forecast period include advancements in nanotechnology, growing importance of air quality monitoring, rapid growth in biopharmaceuticals, focus on digitalization and data analytics..
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Market Segmentation:
The industrial filters market covered in this report is segmented -
1) By Type: Liquid Filtration, Air Filtration
2) By Filter Media: Activated Carbon/Charcoal, Fiber Glass, Filter Paper, Metal, Non-Woven Fabric, Other Filter Media
3) By Industry: Food and Beverage, Chemicals & Petrochemicals, Power Generation, Oil and Gas, Pharmaceuticals, Metal and Mining, Automotive, Other Industry
Major Driver - Surge In Industrialization And Urbanization
Rapid industrialization and urbanization are expected to propel the growth of the industrial filter market going forward. Industrialization refers to the development of manufacturing industries whereas urbanization refers to the growth of urban areas in population. Industrial oils, gases, and lubricants are filtered or separated using industrial filters during operations. Rapid industrialization and urbanization, and the growing population in emerging countries are rapidly increasing the need for consumer products. This is consequently surging the industrial development level in those countries and increasing the demand for filtration products. For instance, in 2021, according to World Bank, a US-based international financial institution, the total global urban population reached 57% for the year 2021, which increased gradually from 55% and 56% in 2019 and 2020. Therefore, rapid urbanization and industrialization are driving the growth of the industrial filter market.
Competitive Landscape:
Major companies operating in the industrial filters market report are Cadwell Industries Inc., Compumedics Limited, DeVilbiss Healthcare Pvt. Ltd., Merck & Co. Inc., Natus Medical Incorporated, Novartis AG, Pfizer Inc., Sanofi SA, Sinovac Biotech Ltd., Sleepmed Inc., Acelity L.P. Inc., Eisai Co. Ltd., ResMed Inc., Fisher & Paykel Healthcare Corporation Limited, Braebon Medical Corporation, Löwenstein Medical GmbH & Co. KG, Takeda Pharmaceutical Company Limited, Koninklijke Philips N.V., AstraZeneca plc, Biodiem Ltd., Apnea Sciences Corp., Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Vanda Pharmaceuticals Inc., Cadila Healthcare Limited, Johnson & Johnson Services Inc., Mylan N.V., BMC Medical Co. Ltd., Cleveland Medical Devices Inc., Serta Simmons Bedding LLC, Tempur Sealy International Inc., Sleep Number Corporation, Casper Sleep Inc., Purple Innovation Inc., Leesa Sleep LLC
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Top Trend - Introduction Of Technologically Advanced Products
Technological advancement is a key trend gaining popularity in the industrial filter market. Major companies operating in the industrial filter market are focused on developing new technological solutions to strengthen their position in the market. For instance, in September 2021, Eaton Corporation, an Ireland-based power management company, introduced a new zero-leak Compact Combo Valve that safely vents harmful evaporative fuel vapors in the tank. This valve is a combination of a Fill Limit Vent Valve (FLVV) and a new Zero-Leak Grade Vent Valve (GVV) stacked together. The FLVV prevents overfilling of the tank during a refueling event. Once the fuel tank has reached its maximum fill level, the FLVV shuts off, preventing further fuel entry. The GVV allows fuel tanks to vent properly when the vehicle is parked on a grade, with various shut-off heights and features.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Industrial Filters Market Characteristics
3. Industrial Filters Market Trends And Strategies
4. Industrial Filters Market - Macro Economic Scenario
5. Industrial Filters Market Size And Growth
…..
27. Industrial Filters Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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