Today, countries around the world are witnessing a rapid surge in industrial activities. According to the Food and Agriculture Organization, industrial water is the fastest growing sector of the global water market. The market for industrial water treatment technologies, as per a GWI report, is expected to be worth more than USD11 billion in 2020. On the basis of technology, the industrial filtration market is projected to grow from an estimated USD22.91 billion in 2016 to USD30.78 billion by 2021, registering a CAGR of 6.1 percent from 2016 to 2021, according to a report by MarketsandMarkets. Liquid filtration is estimated to hold a large market share, as it is being widely used for the treatment of supply water in water & wastewater treatment facilities, especially in emerging economies.
Stringent government emission regulations, rising demand for high-quality products, and growing environmental concerns are expected to boost the growth of the industrial filtration market during the forecast period. Liquid filtration is estimated to account for over 76 percent of the market share from 2016 to 2021, adds MarketsandMarkets’ report. Moreover, the growth of industries that are dependent on water, such as chemicals, oil & gas, power generation, pharmaceuticals, and food & beverage, is also expected to fuel the demand for this kind of filtration. It is worth mentioning that coal is one of the most water-intensive methods of generating electricity. According to the International Energy Agency, coal will account for 50 percent of the growth in global water consumption for power generation over the next 20 years. Globally, 8,359 existing coal power plant units already consume enough water to meet the basic water needs of 1 billion people, according to a new Greenpeace International report. The top countries with proposed additional coal plant capacity are China (237 GW), India (52 GW) and Turkey (7 GW). Greenpeace research shows that if the proposed coal plants come online, their consumption of water will increase by 90 percent.
In like manner, water is also extremely important for the manufacturing sector. As a matter of fact, the MarketsandMarkets report states that the manufacturing industry is the largest contributor to the industrial filtration market, and also acts as a key driver of the market. Furthermore, the demand for high-quality products from consumers has boosted the demand for advanced filtration equipment in several manufacturing and process industries.
“Liquid filtration is estimated to account for over 76 percent of the market share from 2016 to 2021”
According to the report, the Asia-Pacific region is expected to witness high growth in the power generation, manufacturing, process, healthcare, and oil & gas industries from 2016 to 2021. Moreover, new policies to control environmental pollution will likely fuel the growth of the industrial filtration market in this region. Key players in the industrial filtration market, according to the report, are trying to penetrate emerging markets, and are adopting various strategies such as contracts & agreements, expansions, mergers & acquisitions, and new product launches to increase their market share. Some of the leading industrial filtration market players are Mann + Hummel GmbH (Germany), Donaldson Company, Inc. (U.S.), Alfa Laval (Sweden), Clarcor Inc. (U.S.), and Parker Hannifin Corporation (U.S.).
Senior Content Editor & Researcher
CPH World Media