Press release
Industrial Filtration Market is to grow at a 4.2 % CAGR, with the United States leading the market through 2030
Industrial Filtration Market
The Industrial Filtration Market was USD 42.74 Bn in 2023 and is expected to expand at a CAGR of 4.2 % from 2023 to 2030, reaching USD 57.1 Bn by 2030. The need for filtration systems in industries, manufacturing facilities, and urban infrastructure is increasing due to the fast rate of industrialization and urbanization in rising economies, especially in Asia-Pacific and Latin America. Industrial filtration systems are becoming more effective, affordable, and adaptable due to technological advancements. Improvements in filtration performance are being driven by innovations including membrane filtration, electrostatic precipitation, and nanotechnology. In 2024, the industrial filtration market in the United States was estimated to be worth USD 29.8 billion.
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Industrial Filtration Market Segmentation
By Type: In many industrial applications, such as the production of chemicals, food processing, oil and gas, power generation, and the automotive sector, air filtering is an essential component. Liquid filtration is the process of removing solid impurities from liquids, including water, chemicals, oils, and drinks.
By End User: Industrial filtration systems are widely used in the manufacturing sector. Industrial filtration systems are necessary for the power generating industry to filter air, water, and gas, particularly in nuclear, natural gas, and coal-fired power plants. Industrial filtration is crucial to the oil and gas sector's upstream and downstream operations.
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Industrial Filtration Market Regional Analysis
In the United States, the industrial filtration industry was estimated to be worth USD 29.8 billion. The Environmental Protection Agency (EPA) and other regulatory agencies require that particle emissions and water pollution be reduced. 3M Company, and Donaldson Company, Inc. are the major key players that dominate the US market.
The UK, industrial filtration market brought in around USD 219.7 million in 2023. The market is expected to develop at a CAGR of 6.3% from 2024 to 2030, reaching USD 336.8 million. Pall Corporation, Camfil, Eaton Corporation, and Filtration Group Corporation are the leading suppliers of air filtration systems in the UK.
The Chinese industrial filtration market was estimated to be worth USD 9.2 billion in 2023. The market is expected to expand at a CAGR of about 5.8% from 2024 to 2030. China has put strict environmental laws into place to guarantee that industrial effluent is treated and to lessen air pollution. Stricter standards for water treatment and air quality are enforced by regulatory agencies like the Ministry of Ecology and Environment (MEE).
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Industrial Filtration Market Competitive Landscape
3M Company: Aearo Technologies was acquired by 3M. Ceradyne Inc., a supplier of cutting-edge ceramics with uses in electronics, medical, automotive, and military, was acquired by 3M. 3M purchased Capital Safety, a world leader in fall prevention gear for USD 2.5 billion.
Donaldson Company, Inc.: Donaldson acquired Clarcor Inc., a manufacturer of industrial filtration devices for USD 4.8 billion. Donaldson acquired Camfil Farr's air pollution control (APC) business.
Conclusion
Businesses who are innovative and provide sustainable, energy-efficient, and personalized filtration solutions will be in a strong position to benefit from the expanding market for industrial filtration products in a variety of industries.
Leading companies include Ahlstrom-Munksjö, Parker Hannifin, 3M, Donaldson Company, and Camfil.
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