“Industrial Filtration Market expected to grow from an estimated value of USD 29.5 billion in 2020 to USD 41.1 billion by 2025, at a CAGR of 6.9% from 2020 to 2025. The growth of this market is driven by strict government regulations to eliminate air and water pollution. The demand for the treatment of industrial waste and the requirement of a safe working environment in industrial facilities also expected to increase the demand for industrial filtration.
Some of the prominent key players are; Alfa Laval(Sweden),Donaldson(US),Danaher(US),Parker Hannifin(US),Eaton(Ireland),Ahlstrom-Munksjö(Finland)
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The Filter Press segment is expected to be the fastest-growing market of the industrial filtration market, by product, during the forecast period; Filter Press are used for filtering liquid using pressurized air. This segment is expected to hold a significant share in 2020 owing to the increasing need for liquid filtration for various industries. Filter Press is used to remove impurities from solid-liquid slurry in the chemical industry to make chemical reusable, which in turn drives the market of filter press in industrial filtration. North America is expected to be the largest market during the forecast period due to the advanced technologies used in this region.
Pharmaceuticals is expected to be the fastest-growing market, by industry, during the forecast period; Pharmaceuticals are expected to grow at the highest CAGR during the forecast period. This industry uses filtration for the removal of suspended particles and to reduce bacteria in-process components. Filtration helps in protecting process solutions from contamination when stored in tanks. Removal of suspended particles and bacteria from water and air is expected to drive the pharmaceutical industry.
North America is expected to dominate the global industrial market.; North America is the largest market for industrial filtration. The region has been segmented by country into the US, Canada, and Mexico. The demand for industrial filtration in this region is driven mostly by the manufacturing, oil & gas, power generation, pharmaceutical, metal & mining and process industries. It is the largest market for industrial filtration during the forecast as it is the second-largest producer of crude oil which generates waste, which is needed to be treated. Manufacturing is the largest sector globally as they increase the operational life of machines and equipment. Moreover, this region also houses some of the major manufacturers who continuously focus on R&D to innovate new technologies.