openPR Logo
Press release

Global Filter Bags Market is expected to exhibit a CAGR of 5.6% over the period between 2016 and 2024.

09-22-2017 07:30 AM CET | IT, New Media & Software

Press release from: TMR

The global filter bags market is divided among a vast number of large and small players, observes Transparency Market Research (TMR) in a new report. However, the market features dominance of some prominent vendors that include BWF Environtech, Clarcor Inc., and Eaton Corporation which collectively accounted for close to two-third revenue share of the market in 2015.

A notable trend observed in regional markets such as Asia Pacific is the significant hold of local vendors who are giving tough competition to international players with low-cost products and alliances with domestic OEMs. Large players thus need to strengthen existing sales channels and expand operations in small markets as an effective strategy to accomplish business objectives in these markets.

Request Sample : https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=14336

As per estimations by TMR, the global filter bags market is expected to rise at a CAGR of 5.6% between 2016 and 2024. Progressing at this pace, the market which was evaluated at US$1,811.7 mn in 2015, is expected to become worth US$2,950.1 mn by the end of 2024.

In terms of product type, air filter bags find enormous use in applications in dust collection and control of industrial emissions. Expanding at a CAGR of 5.6% between 2016 and 2024, the segment is expected to outdo liquid filter bags in the upcoming years.

Among the key application segments of the global filter bags market, the oil and gas industry stood as the leading revenue contributor in 2015. The industry is anticipated to outdo other application segments in terms of demand, expanding at a CAGR of 6.2% between 2016 and 2024.

Download TOC : https://www.transparencymarketresearch.com/report-toc/14336

Asia Pacific is presently the leading regional market for filter bags; the region is expected to be the most promising in terms of growth rate over the forecast period. The growth of the region is primarily driven by the high demand for air filter bags.

Statutes for Reduced Emissions and Safe Work Environment in the Industrial Sector to Drive Market

In recent years, several countries have implemented strict regulations to curb carbon emissions and to prevent degradation of the environment. Government agencies are providing incentives and tax rebates for companies that are adopting green technologies and are undertaking proactive measures to reduce carbon footprint in their overall operations. As a result, industries are increasingly using barriers such as filter bags for effective control of industrial effluents and discharges.

In the industrial sector, implementation of workplace safety statutes has compelled employers to meet required standards of safety and efficiency of the work environment. This has boosted the adoption of filter bags for blocking harmful emissions to mix in the ambient air. This has particularly bolstered the use of filter bags in cement and mining industries and in power plants.

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

US Office

90 State Street, Suite 700

Albany, NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: https://www.transparencymarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Global Filter Bags Market is expected to exhibit a CAGR of 5.6% over the period between 2016 and 2024. here

News-ID: 733150 • Views:

More Releases from TMR

Emerging Opportunities in Logistics Market with Current Trends Analysis
Emerging Opportunities in Logistics Market with Current Trends Analysis
The global Logistics market is estimated to attain a valuation of US$ 15,273.21 Bn by the end of 2027, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 4.5% during the forecast period, 2019-2027. The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders of the
Energy Measurement IC Market is expected to reach US$ 8.39 Bn by the end of 2031
According to a Transparency Market Research (TMR) research report, the global energy measurement ic market is likely to expand at a CAGR of 7.4% during the forecast period, 2022 to 2031. This suggests that the market is expected to reach US$ 8.39 Bn by the end of 2031. The study on the energy measurement ic market adopts rigorous and systematic research approaches to understand the growth dynamic of the market. The
STATCOM UPS Market to Register Double Digit Growth Rate of 16% CAGR by 2024
Over the last decade, rising number of industries and utilities are opting for static synchronous compensator or STATCOM UPS instead of static VAR compensator or SVC UPS. Low harmonic emission coupled with high speed of response is accentuating the expansion of India STATCOM UPS market now and in times to come. Playing a crucial role in voltage control and compensation of reactive power, STATCOM UPS is likely to keep its
Thin Wafer Processing and Dicing Equipment Market US$692.5 mn by 2024 - TMR
Transparency Market Research (TMR) estimates that the global thin wafer processing and dicing equipment market has a highly consolidative landscape. Disco Corp. accounted for largest share of 56.4% in 2015 and likely to be dominant in the coming years. This is creating monopoly in the thin wafer processing and dicing equipment market in terms of competitive presence. The other key players such as EV Group, Plasma-Therm LLC, Lam Research Corp,

All 5 Releases


More Releases for CAGR

Cat Litter Box Market | CAGR of 9.1% | Revenue & CAGR of 9.1%
Cat Litter Box Market Report provides precise data about the market size, commercialization aspects and revenue forecast of the industry. The global Cat Litter Box market offers a historical factsheet relevant to the strategic mergers, acquirements, joint venture activities, and partnerships spread in the Cat Litter Box market. The most advanced data has been presented in the study on the revenue numbers, product details, and sales of the major firms.
Predictive Analytics Market Growing at Strong CAGR of CAGR of 25.31% 2019
Predictive analytics helps to extract information from the existing data. It helps in understanding the pattern and predict the trend or future for the organization. It uses what-if scenarios to predict possible risks involved in the future. Predictive analytics also helps in the optimization of the marketing campaigns and understanding of the customer behaviour for increasing the end-user response and to reduce the churn. Predictive analytics is segmented into: Risk management:
Global Absorption Chillers Market Reflecting a CAGR of 7.6% CAGR through 2025
The demand for thermally-driven chillers in multiple industrial verticals is poised to grow in the immediate future. Considering the rising demand for electrical chillers in commercial, residential as well as industrial settings, the adoption of absorption chillers will gain traction at considerable rate. By consuming lesser energy than conventional electrical chillers, absorption chillers will also garner surplus demand for not using ozone-depleting chlorofluorocarbons (CFC) for chilling purposes. Persistence Market Research’s
Aircraft Sensors Market Growing at a CAGR of 6.4% CAGR By 2022
The global aircraft sensors market is forecasted to receive a strong push in its growth momentum on the back of advancements in technologies, massive investments forwarded by private equity groups, and the elevation in the demand for aircraft. Adherence to the requirements and regulations of authorities such as local aircraft regulatory bodies and the Federal Aviation Administration (FAA) could pamper the growth of the market. Nonetheless, there could be more
China Baby Diapers Market Reflecting a CAGR of 19.1% CAGR 2012-2017
The increasing birth rate in China has proven to be a boon for the country’s baby diaper’s market. To provide a comprehensive analysis of the growth trajectory exhibited by the China baby diapers market and study the impact of the dynamic regulatory policies on the market, Transparency Market Research (TMR) has published a report, titled “Baby Diapers Market - China Industry Analysis, Market Size, Share, Growth, Trends And Forecast, 2012
Ecg Device Market Register a CAGR Growth of 4.1% CAGR by 2024
This region holds highest market share over the forecast period (2016-2024) and is expected to exhibit slow growth rate. The Asia Pacific is expected to be the fastest-growing region for ECG devices owing to its increasing incidence rate of cardiovascular diseases and high population. ECG devices are experiencing a paradigm technological shift from resting ECG systems to portable Holter monitoring systems, owing to their advantages of patient mobility, low prices and