Industrial Filtration Market by Product and Geography - Forecast and Analysis 2021-2025

The industrial filtration market share is expected to increase by USD 3.66 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 3.88%.

This industrial filtration market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers industrial filtration market segmentation by product (industrial liquid filtration and industrial air filtration) and geography (APAC, North America, Europe, MEA, and South America). The industrial filtration market report also offers information on several market vendors, including Boll and Kirch Filterbau GmbH, Cleanse Filtration , Danaher Corp., Donaldson Co. Inc., Filtration Group Corp., Graver Technologies LLC, Hengst SE, MANN+HUMMEL International GmbH and Co. KG, RUSSELL FINEX SIEVES AND FILTERS PVT. LTD., and Synder Filtration Inc. among others.

What will the Industrial Filtration Market Size be During the Forecast Period?

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"Well-established pharmaceutical and biopharmaceutical industries will facilitate the tangential flow filtration market growth in APAC over the forecast period."

Industrial Filtration Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increase in the number of refineries is notably driving the industrial filtration market growth, although factors such as intense market competition may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial filtration industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Industrial Filtration Market Driver

An increase in the number of refineries is one of the key factors driving the growth of the global industrial filtration market. Filtration is mandatory in oil refineries as it captures matter such as rust and scale, which can damage the equipment, catalyst beds, and other various refinery process units. Moreover, filtration plays a key role during the process of refining. Growing investments in the expansion or upgrading of refineries are expected to drive the global industrial filtration market. Major investments in various countries are being made in expanding and upgrading refineries. In 2016, Indian Oil Corp (IOC), Bharat Petroleum Corp. Ltd. (BPCL), Engineers India Ltd.(EIL), and Hindustan Petroleum Corp. Ltd. (HPCL) announced plans to build India's biggest petrochemical complex-cum-refinery on the west coast. This complex is expected to be completed by 2021 and will produce diesel, petrol, LPG, ATF, and feedstock for petrochemical plants. However, the installation of refineries is expected to propel the demand for industrial filters, thereby driving the industrial filtration market.

Key Industrial Filtration Market Trend

Innovations in filtering media will fuel the global industrial filtration market growth. Technological advances help manufacturers to improve their product portfolios. Companies make substantial investments in R&D to offer a wide range of products as per the requirement of specific industries and to remain competitive in the market. In May 2021, Eaton Corporation Plc launched the optimized version of the IFPM 33 mobile, offline fluid purifier system. The fully automated, PLC-controlled purifiers effectively remove free, emulsified, and dissolved water, free and dissolved gases, and particulate contamination down to 3 µm from light transformer oils to heavy lubricating oils at a flow rate of 8 gpm (30 l/min). Typical high-moisture applications include hydroelectric power, pulp, and paper, offshore, and marine. In March 2021, Donaldson Company, Inc. announced new capabilities and user experience updates to the company’s iCue connected filtration service, which will enable facility teams to closely track collector performance and respond in real-time to maintenance notifications.

Key Industrial Filtration Market Challenge

Intense market competition is a major challenge for the global industrial filtration market growth. The global industrial filtration market is a highly fragmented market with the presence of a few dominant players in the market. Vendors are also under constant pressure to deal with price fluctuations to remain competitive in the market. Declining profit margins have compelled companies to expand their product base and find more ways to make profits. Most vendors in the market resort to mergers and acquisitions (M&A) to maintain their market strength and presence. This has led to a number of consolidations in the market. For instance, Parker Hannifin is a diversified manufacturer and has been in the filtration business since 1968. The company has grown over the years by acquisition. In 2007, the company added nearly 13 businesses, of which the acquisition of UK-based Domnick Hunter was notable. With this acquisition, Parker Domnick Hunter is a global leader in filtration, purification, and separation of compressed air and gas. Similarly, in 2018, Parker Hannifin announced its plans to acquire CLARCOR, which is a diversified air and liquid filter company. CLARCOR's leading brands include Baldwin, CLARCOR, Fuel Manager, PECOFacet, Airguard, Altair, BHA, and Clark Filter.

This industrial filtration market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes global industrial filtration as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the industrial filtration market during the forecast period.

Who are the Major Industrial Filtration Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Boll and Kirch Filterbau GmbH
• Cleanse Filtration 
• Danaher Corp.
• Donaldson Co. Inc.
• Filtration Group Corp.
• Graver Technologies LLC
• Hengst SE
• MANN+HUMMEL International GmbH and Co. KG
• RUSSELL FINEX SIEVES AND FILTERS PVT. LTD.
• Synder Filtration Inc.

 

This statistical study of the industrial filtration market encompasses successful business strategies deployed by the key vendors. The industrial filtration market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Boll and Kirch Filterbau GmbH - The company offers a wide range of industrial filters such as automatic backwash filters, duplex filters, simplex filters among others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The industrial filtration market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Industrial Filtration Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the industrial filtration market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global industrial machinery market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Industrial Filtration Market?

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62% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the industrial filtration market in APAC. Market growth in this region will be slower than the growth of the market in regions.

An increase in the number of refineries will facilitate the industrial filtration market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of the COVID-19 pandemic in the region negatively impacted the growth of the industrial filtration market in 2020. Several countries, such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines, were under partial or complete lockdown in 2020 to contain the spread of the disease. Owing to the lockdown measures and stringent regulations imposed, most manufacturing industries in the region were highly affected. Their production units had been either closed or halted, which negatively impacted the regional market growth in 2020. However, in 2021, the lifting of lockdown restrictions and the resumption of various industrial operations, such as chemical, had a positive impact on the regional market growth during the forecast period.

What are the Revenue-generating Product Segments in the Industrial Filtration Market?

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The industrial filtration market share growth by the Industrial liquid filtration segment will be significant during the forecast period. Liquid filtration is the process of removing solids from liquids by allowing the contaminated liquid to flow through a filtering media, which allows only the purified form of the liquid. Liquid filters are used for the filtration of coolants and lubricants, oil, fuel, urea, food and beverage, blood plasma, and wastewater.

This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial filtration market size and actionable market insights on post COVID-19 impact on each segment.

 

Industrial Filtration Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 3.88%
Market growth 2021-2025	$ 3.66 billion
Market structure	Fragmented
YoY growth (%)	2.82
Regional analysis	APAC, North America, Europe, MEA, and South America
Performing market contribution	APAC at 62%
Key consumer countries	China, US, Japan, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Boll and Kirch Filterbau GmbH, Cleanse Filtration , Danaher Corp., Donaldson Co. Inc., Filtration Group Corp., Graver Technologies LLC, Hengst SE, MANN+HUMMEL International GmbH and Co. KG, RUSSELL FINEX SIEVES AND FILTERS PVT. LTD., and Synder Filtration 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 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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What are the Key Data Covered in this Industrial Filtration Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive industrial filtration market growth during the next five years
• Precise estimation of the industrial filtration market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the industrial filtration industry across APAC, North America, Europe, MEA, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of industrial filtration market vendors

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