May 27, 2020 3:57 PM ET
iCrowd Newswire – May 27, 2020
The Global Filtration & Separation Market is estimated to grow at a CAGR of 3.3% during the forecast period 2019-2026. As per the detailed market study, the global market was valued at $89,072 million in the year 2018 and is estimated to reach $116,123 million by the end of the year 2026.
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Filtration & separation refers to the elevation and removal of waterborne and airborne particles and pollutants. The industrial across the world produces, dust, chemicals, minute particles and other allergens that are responsible for polluting water and air. Hence, there is an increasing demand for filtration & separation system to filter out the pollutants.
The global filtration & separation market is driven by various growth factors such as increasing focus towards methods to curb air pollution, increasing focus of governments in the form of strict regulations for clean water and increasing awareness towards air pollution.
Segmentation Overview of the Global Filtration & Separation Market
The global filtration & separation market is segmented on the basis of type and end-user segment. These market segments are further categorized into various sub-segments to study the market in detail.
Air segment to witness high growth as compared to gas and liquid segment in the global filtration & separation market. The segment growth is attributed to increasing awareness related to water and air pollution worldwide coupled with technological advancements in products that are used to handle air pollution.
The end-user segment is categorized into transportation, water and wastewater, life sciences, HVAC and industrial process. Among these, water and wastewater segment dominated the global marketplace in terms of revenue share in the year 2018. The segment dominance is attributed to rapid growth in projects related to wastewater treatment across Brazil, China, India and other developing nations.
Geographical Overview of the Global Filtration & Separation Market
The global filtration & separation market is segmented on the basis of various geographical regions, such as:
- North America (Canada and U.S.)
- Europe (Germany, France, UK, Italy, Spain, The Netherlands and Rest of Europe)
- Asia Pacific (Japan, China, Australia and Rest of Asia Pacific)
- LAMEA (Latin America, Middle East and Africa)
As per the regional study, the North America filtration & separation industry contributed the maximum market share as compared to other regions in terms of market revenue. The regional dominance is attributed to technological advancements in water and air filter media and strict rules and regulations of regional government to limit the pollution level in countries.
Market Competition Insights
Porvair Plc, Parker Hannifin Corporation, Pall Corporation, Mann+Hummel, Lydall, Inc., Freudenberg, Eaton, Donaldson, Alfa Laval and Ahlstrom-Munksjo are some major key players included in the market research report of the global filtration and separation market. The market players profiled in the research study have adopted key strategies such as business expansion, product launches, mergers and acquisitions and partnerships among others to sustain the stiff market competition and strengthen their market reach. For instance, in October 2018, Donaldson Company acquired BOFA International Ltd. with 88% ownership stake. Similarly, in November 2017, Ahlstrom-Munksjo Oyj announced the product launch of Trinitex Advance W3000 filtration media which is specifically designed for pulse jet gas applications.
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Keywords: Filtration & Separation Market