Industrial Air Filtration Market To Grow At Nearly 6% CAGR Till 2024 | Hexa Research
Projected to grow at a CAGR of almost 6% from 2016 to 2024, industrial air filtration market is expected to grow significantly over the forecast period owing to growing environmental concerns and rapid urbanization
The Industrial Air Filtration Market should grow at nearly 6 percent CAGR during 2016 to 2024 (forecast period). This indicates decent market expansion in the near future. Eco-concerns and urbanization are predicted to be the key drivers of the market. Ecological policies regarding gas emissions will also propel market sales.
Safety policies and occupational regulations across different sectors can positively affect the market. Dust, fumes, & vapor across the industry of metal processing require effective filtering. They abide by the emission standards, protect workers, and enhance production quality.
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Innovative technology has led to air filters bettering themselves in terms of quality & performance. It has lowered energy consumption without negotiating on filtration demands. This factor has also driven the market. Moreover, advanced feedstock (small fibers, etc.) coupled with non-woven enhancements may propel market demand.
Regulatory initiatives in light of weather changes & GHG emissions have called for improvements in filter design & media technology. The same, in turn, will drive market revenues till 2024. However, huge investments for operating these air filters are likely to impede market flow.
Research & developments across the fields of nanotechnology and small fibers offer market prospects. The industrial air filtration market is trifurcated into applications, products, and regions. Applications comprise metal, cement, food, pharmaceutical, and power. Power reigned over the market in the past.
Food may expand noticeably over the forecast period. Stern policies & norms with respect to food processing cause manufacturers to lay stress on the distribution of quality filtered air. This is expected to drive market sales. Products include baghouse filters, cartridge filters & collectors, mist collectors, HEPA filters, and dust collectors.
HEPA filters are projected to witness robust growth in the coming eight years. Their droplet-removal and high efficiency qualities make them popular among customers. Air filtration even adopts low-efficiency filters (in terms of pre-filters) to capture impurities, thus enhancing product life.
Regions in the industrial air filtration market comprise Europe, Asia Pacific, North America, and rest of the world. Asia Pacific is reported to grow strong in the eight years ahead. Regional urbanization will contribute to the same. Europe may undergo decent expansion.
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