Industrial Air Filtration Market: Rapidly Evolving Industry…… COVID-19….



The global industrial air filtration market size is expected to reach USD 18.0 billion by 2027, growing at a CAGR of 7.3% over the forecast period, according to a study conducted by Grand View Research, Inc. The growing demand for high-performing and energy-efficient products is expected to catapult the demand over the forecast period. Technological advancements have resulted in the manufacturing of a new filter media to meet the demand for energy-efficient products. This, in turn, has instigated the development of innovative raw materials such as small fibers and is further anticipated to provide new avenues for industry growth.
The global construction industry, once thriving with increased investments, has been severely affected by the suspension of the construction activities in the wake of the ongoing pandemic. Shortage of labors coupled with potential supply chain bottlenecks of materials and equipment is expected to cause project delays in the ongoing funded projects and may lead to reduced spending in the upcoming projects. Uncertainty around the actual duration of the prevailing lockdown makes it hard to anticipate how a recovery in the construction industry will unfold. On similar lines, the HVAC industry has been adversely affected by the COVID-19 outbreak due to the shutting down of several component manufacturing facilities across China, European countries, Japan, and the U.S. This has consequently led to a significant slowdown in the production of HVAC equipment. Lockdowns imposed by the governments in the wake of the Covid-19 outbreak has not only affected manufacturing but also pegged back the consumer demand for HVAC equipment. The report will account for Covid19 as a key market contributor.
Soaring electricity consumption has led to the development of new power generation plants, which is expected to be a key factor driving the market for industrial air filtration. Furthermore, implementation of stringent government regulations in order to protect human health by limiting or eliminating airborne pollutant concentrations will further aid in catapulting the market. Enforcement of Occupational Safety and Health Act (OSHA) code is the key factor anticipated to drive the market for industrial air filtration. The OSHA standards prohibit companies from retaliating against employees for exercising their rights under the law.
Companies across the globe are turning towards sustainable alternatives and methodologies such as green manufacturing in order to improve competitive advantage and increase revenues. Similarly, governments across the globe are collaborating with numerous environmental organizations for developing standards to control harmful emissions in the region. These standards have contributed to the expansion of the market for industrial air filtration across regions.
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However, lack of social responsibility and awareness may also pose a challenge to market growth. End use industries often lack their responsibility towards society and refuse to spend extra capital investment for installing an air pollution control devices, which is expected to hamper product demand over the next few years. Equipment purchase decisions are often based on the purchase price of the air filtration equipment, which is further expected to pose as a challenge to the market for industrial air filtration.
Further key findings from the report suggest:
·         The dry scrubbers segment is expected to witness a CAGR exceeding 7.5% over the forecast period. Dry scrubbers generate minimal waste leading to the elimination of complex sanctioning procedure along with plummeting capital and operating costs
·         The demand for air filters in the power segment accounted for over 19% of the global industrial air filtration market in 2020 and the segment is expected to witness a steady growth over the next seven years, as this industry has to comply with several government regulations including Environmental Protection Agency (EPA) and OSHA standards
·         Asia Pacific accounted for over 25% of the overall revenue in 2020 and is expected to witness substantial growth over the forecast period, which is accredited to high penetration of these products across the metal and plastic industry coupled with increased R&D spending in the Asia Pacific food and beverage industry
·         Key players, such as Honeywell International, Inc., MANN+HUMMEL, Daikin Industries, Ltd., Clean TeQ Holdings Limited, 3M, and SPX Corporation, enhanced their market position through mergers and acquisitions in order to expand their geographical reach.
The global industrial air filtration market size was valued at USD 10.4 billion in 2020 and is expected to register a CAGR of 7.3% from 2020 to 2027. The need to control industrial air quality across a range of end use industries is a key factor anticipated to drive market growth over the forecast period. Air filtration provides an effective way to control contaminants by reducing their concentration to an acceptable level, subsequently improving the indoor air quality. Additionally, the rising need to reduce energy consumption across several industrial applications may elevate demand for an effective industrial air filtration system. Growing concerns regarding environmental health coupled with reducing raw material resources and natural depositories are primarily expected to fuel industry growth over the forecast period.
Furthermore, favorable government regulations pertaining to emission norms coupled with enforcement of workforce health and safety regulations in several regions is anticipated to drive the market over the forecast period. For instance,the Clean Air Act is the U.S. federal law designed to control air pollution on a national level. Growth of industrial and manufacturing units, automotive, and commercial sector in the region led to the implementation of several regulations concerning the industrial air filtration. Further, implementation of the Kyoto Protocol on a global level, is an effort to reduce greenhouse gas emissions that forces industries to adopt the industrial air filtration concept.
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Grand View Research has segmented the global industrial air filtration market based on product, end use:
Industrial Air Filtration Product Outlook (Revenue, USD Million, 2016 - 2027)
·         Dust Collectors
·         Oil Mist Collectors
·         HEPA Filters
·         Cartridge Collectors & Filters (CC&F)
·         Baghouse Filters
·         Welding Fume Extractors
·         Wet Scrubbers
·         Dry Scrubbers
Industrial Air Filtration End-use Outlook (Revenue, USD Million, 2016 - 2027)
·         Cement
·         Food
·         Metals
·         Power
·         Pharmaceutical
·         Agriculture
·         Paper & Pulp and Woodworking
·         Plastic
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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