Global Industrial Filtration Market 2017-2021
About Industrial Filtration
Filtration is the process of removing suspended solid particles from a fluid or gas. This separation process is performed with the help of a medium called a filter. The filtration process is employed in many industries such as chemical and petrochemical, automotive, metals and mining, healthcare and pharmaceutical, power generation, plastics, woodworking, paper and pulp, water and wastewater treatment, oil and gas, and food and beverage.
Technavio’s analysts forecast the global industrial filtration market to grow at a CAGR of 5.03% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial filtration market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Filtration Market 2017-2021
Technavio recognizes the following companies as the key players in the global industrial filtration market: Cummins Filtration, Eaton, Freudenberg Filtration Technologies, MANN+HUMMEL, and Parker Hannifin.
Other Prominent Vendors in the market are: 3M, Ahlstrom-Munksjö, Alfa Laval, Donaldson, Entegris, Filtration Group, General Electric, Lenntech, Nordic Air Filtration, Pall, Pentair, and Schenck Process.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is innovations in filtering media. 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.”
According to the report, one driver in the market is growth in water and wastewater treatment sector. The water and wastewater industry involves processes such as water treatment, sewage treatment, effluent treatment, and water recycling. The industry also includes technologies such as disinfection, filtration, distillation, and testing. Filtration is one of the primary procedures in the water and wastewater treatment industry. Industrial filters are used to filter the primary source of water to remove slit, pipe scale, sand, and algae. Many countries are involved in the recycling and treatment of their water resources.
Further, the report states that one challenge in the market is intense market competition. The global industrial filtration market is a highly fragmented market with the presence of 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.
Cummins Filtration, Eaton, Freudenberg Filtration Technologies, MANN+HUMMEL, Parker Hannifin, 3M, Ahlstrom-Munksjö, Alfa Laval, Donaldson, Entegris, Filtration Group, General Electric, Lenntech, Nordic Air Filtration, Pall, Pentair, and Schenck Process.
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