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The global Industrial Filtration Market is projected to grow at CAGR of 6.1% from 2016 to 2021 and reach USD 30.78 billion by 2021

Press Release   •   Jan 20, 2017 04:20 EST

The industrial filtration system was initially used for filtering out impurities from raw material to produce high-quality products. However, given the growing concerns regarding global warming, scarcity of drinking water, and soil degradation, the governments of various countries have imposed regulations to reduce the amount of harmful effluents being released into the environment by industries. This measure has led to the increasing installation of filtration systems across industries.

Browse 60 market data Tables and 51 Figures spread through 154 Pages and in-depth TOC on "Industrial Filtration Market by Type (Air & Liquid), Technology, Product, Industry (Manufacturing, Power Generation, Metals & Mining, Oil & Gas, Healthcare & Pharmaceuticals, and Process) and by Region - Global Trends & Forecast to 2021" http://www.rnrmarketresearch.com/industrial-filtration-market-by-type-air-liquid-technology-product-industry-manufacturing-power-generation-metals-mining-oil-gas-healthcare-pharmaceuticals-and-process-and-by-region-global-tren-st-to-2021-market-report.html

“Global industrial filtration market projected to grow at a CAGR of 6.1% during the forecast period”

The industrial filtration market is projected to reach a market size of USD 30.78 billion by 2021, growing at a CAGR of 6.1% from 2016 to 2021. Stringent government regulations to reduce greenhouse gas emissions and soil and water pollution are the key driver of the market. The growth of manufacturing industries, especially in the Asia-Pacific and Middle East & African regions, is also expected to boost the industrial filtration market. This growth can be attributed to stringent government emission regulations and the growth of the global power generation and manufacturing industries.

“Manufacturing industry to hold the largest share in the industrial filtration market from 2016 to 2021”

The manufacturing industry is estimated to constitute the largest segment of the industrial filtration market, by industry. New manufacturing facilities are being constructed at a rapid rate in emerging economies such as China, India, Indonesia, South Africa, Brazil, and Mexico to meet growing consumer demand. Moreover, emission regulations in developed countries such as the U.S., Canada, the U.K., and Germany are being upgraded to include more rigid emission targets and tackle global warming. These countries are likely to be high-growth markets for industrial filtration during the forecast period.

“Asia-Pacific to dominate the industrial filtration market by 2021”

Asia-Pacific is witnessing significant investments in the construction of new power plants, primarily in China, India, Indonesia, and Thailand. China has always been an attractive destination for manufacturers, due to the easy availability of raw materials, cheap labor, and favorable industry setup regulations; however, India has experienced a tremendous growth in foreign investments in the past two years. The country is also actively changing its policies to attract manufacturers. Most countries in Asia-Pacific are still in the developing stage, and are therefore expected to witness substantial growth in the industrial sector. This will likely drive the demand for filtration systems.

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The report also provides an in-depth analysis of the competitive landscape, along with profiles of leading Industrial Filtration Market players such as Mann + Hummel GmbH (Germany), Donaldson Company, Inc. (U.S.), Alfa Laval (Sweden), Clarcor Inc. (U.S.), and Parker Hannifin Corporation (U.S.). Key players are trying to penetrate emerging markets, and are adopting various strategies such as contracts & agreements, expansions, mergers & acquisitions, and new product launches to increase their market share.

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