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The thermal treatment air filtration market size is estimated to grow at a CAGR of 5.95% between 2022 and 2027. The market size is forecast to increase by USD 1,295.85 million. The growth of the market depends on several factors such as stringent environmental regulations, expanding water and wastewater treatment, and the need for high efficiency. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
This report extensively covers market segmentation by end-user (oil and gas, chemicals, transportation, pulp and paper, and metalworking and others), type (RTO, thermal oxidizer, catalytic oxidizer, and RCO), and eography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges.
Thermal Treatment Air Filtration Market Forecast 2023-2027
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Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
High-quality drinking water is essential for commercial, industrial, and individual consumers. Rapid urbanization and population growth are putting pressure on existing freshwater resources around the world. Although many developed countries have water treatment infrastructure in place, some countries lack adequate water distribution options and water can become contaminated during transportation.
Moreover, various European countries, which already have technologically advanced industrial water treatment infrastructures, are now turning their attention to municipal water treatment infrastructures. However, in developing countries such as India and China, large portions of the population still lack access to potable water and municipal water infrastructure is in an aging state. Thus, expansion in water and waste treatment elements will fuel the growth of the market during the forecast period.
In the global thermal treatment air filtration market, some leading suppliers only offer devices or systems, while others specialize in providing catalysts and automation solutions. However, end users prefer end-to-end solutions that are economical and have a low total cost of ownership. Nevertheless, choosing the wrong thermal oxidizer will dramatically increase fuel and maintenance costs.
In addition, end users who have invested heavily in the installation of equipment and require maintenance work due to lack of knowledge prefer providers who offer complete product and service solutions. provider that can guarantee service support for a certain number of years. Therefore, many market players have started offering end-to-end solutions that improve customer satisfaction. Thus, such factors limit the growth of the market during the forecast period.
One of the main challenges to the growth of the global thermal treatment air filtration market is the over-dependence on gas turbines for electricity generation, which exposes consumers to disproportionately high fluctuations in the price of natural gas. To protect electricity prices from fluctuations, power companies always try to maintain a balanced portfolio of raw materials. However, in the current scenario of a rapid shift from cleaner forms of energy generation to gas turbines and natural gas power generation, dependence on natural gas is steadily increasing.
Currently, the low cost of natural gas seems less harmful to generate excess energy from natural gas. However, according to the historical development of natural gas prices, excessive dependence on natural gas exposes consumers to high natural gas prices due to increased demand and the recovery of the global oil market. Thus, these factors will impede the growth of the market during the forecast period.
The oil and gas segment will account for a major share of the market's growth during the forecast period.? The global oil and gas industry stays ignitable with increased fluctuations in crude oil prices; this is instantly impacting the demand from the industry, mainly through depressed upstream investments in the current scenario of low crude oil prices. The current state of the global air thermal filtration market in the oil and gas industry is considered to be quite stagnant. The main reason for this lull is due to the global oil price scenario.
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The oil and gas segment was valued at USD 806.41 million in 2017. with the pandemic delaying and the resumption of production and manufacturing units, the prices of crude oil started to grow again, which rose to a high of USD116/barrel in June 2021. In 2018, several new refineries came online in countries such as the United States, Saudi Arabia, the United Arab Emirates, India, and China. However, growth in downstream and midstream activities will propel the market growth during the forecast period.
Based on type, the market has been segmented into RTO, thermal oxidizer, catalytic oxidizer, and RCO. The RTO segment will account for the largest share of this segment.?RTO air filtration technology is widely used in the metalworking and chemical industries to remove particles and hydrocarbon compounds from industrial air streams. RTO provides one of the most cost-effective and energy-efficient solutions for reducing odor emissions and VOCs. RTO manufacturers like CMM and Anguil Environmental easily offer turnkey packages and one-stop solutions that maximize productivity, reduce operating costs, and minimize downtime. They also offer advanced configurations such as dual chamber and multi-bed configurations to increase the thermal and filtration efficiency of RTO. Therefore, such factors will fuel the growth of the RTO segment of the market during the forecast period.
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APAC is estimated to contribute 49% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. End users, such as the oil and gas, power, chemical, and electronics industries, are the major revenue contributors to the market growth in the region. Growing demand for electricity has raised the number of new power generation projects in the region. Moreover, the main factors driving the growth of the oil and gas industry are increasing production activity and growing energy demand. Due to the increasing number of offshore and onshore oil and gas activities, the demand for thermal treatment air filtration systems from the APAC oil and gas industry is expected to increase during the forecast period.
The outbreak of COVID-19 in 2020 had a negative impact on the thermal treatment air filtration market in the APAC region. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Moreover, with the rising number of investments in the oil and gas, chemical and petrochemical, and power industries, the demand for thermal treatment air filtration systems is expected to grow significantly in the APAC region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Air Clear LLC, Anguil Environmental Systems Inc., APC Technologies Inc., Catalytic Products International Inc., CECO Environmental Corp., COLT TECHNOLOGIES INC., CTP Chemisch Thermische Prozesstechnik GmbH., Deuring Group GmbH., Durr AG, FIVES SAS, Freudenberg and Co. KG, Glenro Inc., Koch Industries Inc., Taikisha Ltd., Tellkamp Systems Inc., The CMM Group, and Zeeco Inc.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The thermal treatment air filtration market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Thermal Treatment Air Filtration Market Scope |
|
Report Coverage |
Details |
Page number |
178 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.95% |
Market growth 2023-2027 |
USD 1,295.85 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.15 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 49% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accurate Thermal Systems LLC, Air Clear LLC, Anguil Environmental Systems Inc., APC Technologies Inc., Catalytic Products International Inc., CECO Environmental Corp., COLT TECHNOLOGIES INC., CTP Chemisch Thermische Prozesstechnik GmbH., Deuring Group GmbH., Durr AG, FIVES SAS, Freudenberg and Co. KG, Glenro Inc., Koch Industries Inc., Taikisha Ltd., Tellkamp Systems Inc., The CMM Group, and Zeeco Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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