Increasing Demand for Energy-Efficient Filtration Systems to Provide Growth Opportunities for Industrial Air Filter Market During 2021-2028
According to our latest market study on “Industrial Air Filter Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Application, and Geography,” the market is expected to grow from US$ 6.44 billion in 2021 and is projected to reach US$ 10.97 billion by 2028; it is expected to grow at a CAGR of 7.9% from 2021 to 2028.
The demand is mainly driven by an end-user preference for environmentally friendly air filters to reduce industrial workers' health risks. Manufacturers are increasingly creating energy-efficient air filters, such as rigid cellular filters, pleated filters, and pocket filters, that are both efficient and simple to install. Clarcor, for example, is a market participant that produces high-efficiency HVAC filters and antimicrobial filters that work in all climates. Furthermore, the rising desire for better environmental conditions in the residential and commercial sectors may present profitable prospects for the industrial air filter market. Furthermore, Camfil introduced the Absolute V, an energy-efficient HEPA air filter, in February 2020. It saves 20% of the energy used. Moreover, in April 2020, Parker presented an energy-efficient HVAC filter. HVAC systems for food processing, microelectronics production, clean manufacturing facilities, hospitals and healthcare facilities, and industrial manufacturing use Parker QuadSEAL 4 in filters. Thus, the increasing demand for energy-efficient and higher-performing air filtration technologies is expected to propel the industrial air filter market.
The industrial air filter market is segmented on the basis of product and application. Based on product, the industrial air filter market is bifurcated into dust filter, mist filter, baghouse filters, cartridge collectors and filters (CC and F), HEPA filter, wet scrubbers, and dry scrubbers. In 2020, the wet scrubbers segment held a larger market share. Based on application, the industrial air filter market is divided into cement, food and beverages, metals, power generation, pharmaceutical, chemical, oil and gas, and others. In 2020, the power generation segment accounted for the largest market share. Geographically, the industrial air filter market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for a significant share in the global market.
Impact of COVID-19 Pandemic on Global Industrial Air Filter Market
The COVID-19 pandemic has been affecting most of the businesses across the globe. The continuous growth in the count of virus-infected patients compelled respective government authorities to impose respective curbs on movement of humans, goods and commodities with travel restrictions, mass lockdowns, and business shutdowns. Imposition of lockdown has resulted in lesser production of commodities and goods, and also lowered the frequency of service offerings. Manufacturing, automotive semiconductor & electronics, oil & gas, aviation, mining, and other industries have witnessed a notable decline in their revenues due to the temporary shutdown of operations. In the first quarter of 2020, after the imposition of nationwide lockdown in most of the nations, many industrial sectors came to a standstill. Industrial Air filter market is used to improve the air quality in end-use industries; hence, the demand for industrial air filters is closely tied to the functioning of production facilities. However, after the situation comes to normalcy, the industrial air filter market is expected to grow remarkably across the world.
Honeywell International Inc, MANN+HUMMEL International GmbH & Co, Beko Technologies, Sentry Air Systems, Nordic Air Filteration A/S, Donaldson Company, Filtration Group Industrial, Pall Corporation, General Filter Italia, Camfil are among the major companies operating in the industrial air filter market.
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