The industrial filters global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Industrial Filters Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The industrial filters market size has grown strongly in recent years. It will grow from <b>$3.22 billion in 2023 to $3.4 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. </b> The growth in the historic period can be attributed to stringent environmental regulations, rapid industrialization, awareness and concerns for clean energy, focus on occupational safety, globalization of supply chains.
The industrial filters market size is expected to see strong growth in the next few years. It will grow to <b>$4.25 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. </b> The growth in the forecast period can be attributed to growing awareness of air and water quality,industry 4.0 and smart manufacturing,focus on sustainable practices,increasing healthcare concerns,economic and industrial growth in emerging markets. Major trends in the forecast period include advancements in nanotechnology, growing importance of air quality monitoring, rapid growth in biopharmaceuticals, focus on digitalization and data analytics.
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Scope Of Industrial Filters Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Industrial Filters Market Overview
Market Drivers –
Rapid industrialization and urbanization are expected to propel the growth of the industrial filter market going forward. Industrialization refers to the development of manufacturing industries whereas urbanization refers to the growth of urban areas in population. Industrial oils, gases, and lubricants are filtered or separated using industrial filters during operations. Rapid industrialization and urbanization, and the growing population in emerging countries are rapidly increasing the need for consumer products. This is consequently surging the industrial development level in those countries and increasing the demand for filtration products. For instance, in 2021, according to World Bank, a US-based international financial institution, the total global urban population reached 57% for the year 2021, which increased gradually from 55% and 56% in 2019 and 2020. Therefore, rapid urbanization and industrialization are driving the growth of the industrial filter market.
Market Trends –
Technological advancement is a key trend gaining popularity in the industrial filter market. Major companies operating in the industrial filter market are focused on developing new technological solutions to strengthen their position in the market. For instance, in September 2021, Eaton Corporation, an Ireland-based power management company, introduced a new zero-leak Compact Combo Valve that safely vents harmful evaporative fuel vapors in the tank. This valve is a combination of a Fill Limit Vent Valve (FLVV) and a new Zero-Leak Grade Vent Valve (GVV) stacked together. The FLVV prevents overfilling of the tank during a refueling event. Once the fuel tank has reached its maximum fill level, the FLVV shuts off, preventing further fuel entry. The GVV allows fuel tanks to vent properly when the vehicle is parked on a grade, with various shut-off heights and features.
The industrial filters market covered in this report is segmented –
1) By Type: Liquid Filtration, Air Filtration
2) By Filter Media: Activated Carbon/Charcoal, Fiber Glass, Filter Paper, Metal, Non-Woven Fabric, Other Filter Media
3) By Industry: Food and Beverage, Chemicals & Petrochemicals, Power Generation, Oil and Gas, Pharmaceuticals, Metal and Mining, Automotive, Other Industry
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Regional Insights –
Asia-Pacific was the largest region in the industrial filters market share in 2023. The regions covered in the industrial filters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the industrial filters market report are Cadwell Industries Inc., Compumedics Limited, DeVilbiss Healthcare Pvt. Ltd., Merck & Co. Inc., Natus Medical Incorporated, Novartis AG, Pfizer Inc., Sanofi SA, Sinovac Biotech Ltd., Sleepmed Inc., Acelity L.P. Inc., Eisai Co. Ltd., ResMed Inc., Fisher & Paykel Healthcare Corporation Limited, Braebon Medical Corporation, Löwenstein Medical GmbH & Co. KG, Takeda Pharmaceutical Company Limited, Koninklijke Philips N.V., AstraZeneca plc, Biodiem Ltd., Apnea Sciences Corp., Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Vanda Pharmaceuticals Inc., Cadila Healthcare Limited, Johnson & Johnson Services Inc., Mylan N.V., BMC Medical Co. Ltd., Cleveland Medical Devices Inc., Serta Simmons Bedding LLC, Tempur Sealy International Inc., Sleep Number Corporation, Casper Sleep Inc., Purple Innovation Inc., Leesa Sleep LLC
Table of Contents
1. Executive Summary
2. Industrial Filters Market Report Structure
3. Industrial Filters Market Trends And Strategies
4. Industrial Filters Market – Macro Economic Scenario
5. Global Industrial Filters Market Size and Growth
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31. Global Industrial Filters Market Competitive Benchmarking
32. Global Industrial Filters Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Industrial Filters Market
34. Industrial Filters Market Future Outlook and Potential Analysis
35. Appendix
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