Product ID: SQMIG20I2154
Global Industrial Filtration Market Size, Share, Growth Analysis, By Filtration Type(Air, Gas), By Filter Media(Activated Carbon, Fiberglass), By Application(Food & Beverage, Power Generation) - Industry Forecast 2024-2031
Report ID:
SQMIG20I2154 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
97 |
Figures:
76
Global Industrial Filtration Market Dynamics
Industrial Filtration Market Driver
- Industries are required to install air and liquid filtering equipment as a result of the implementation of rigorous rules brought on by growing environmental concerns. The market has been driven at a global level by strict government rules limiting the emissions levels that encourage the usage of industrial filtration systems.
- Industrial filtration is being increasingly digitalized as a result of Industry 4.0 adoption, which has aided producers in efficiently tracking operational performance and gathering real-time data. The information gathered in this way aids in monitoring and assessing system performance as well as gathering system overview, forecasting maintenance requirements and downtime, and automating procedures.
- Transformative advances in the pharmaceuticals & life sciences industry have led to the extension of human life expectancy along with the provision of a healthy and productive lifestyle. As a result sectors such as diagnostic and medicine research, which utilizes these filtration technologies have increasingly utilized these filtration technologies such as microfiltration, and ultrafiltration rather than chemical technologies to keep products safe and pure. Thus, the growth of the healthcare industry is expected to drive the growth of the market.
Industrial Filtration Market Restraint
- Industrial filtration is one of the most crucial components of an effective industrial process, but it also presents difficulties due to its constrained functions. For instance, despite industrial filters' best efforts, viruses, VOCs (volatile organic compounds), mould, and bacteria smaller than 0.4 microns can still enter homes and businesses and have an adverse impact on the quality of the air inside.
- One of the biggest challenges is its expensive nature and large size. Additionally, industrial filtering systems require complex maintenance since they cannot handle continuous use when the system is not self-cleaning and is clogged with waste particles. The industrial filtration market's expansion is constrained by high capital and operating expenses.
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A critical challenge affecting the growth of the market is the substantial usage of energy during the industrial filtration process. Processes such as ultrafiltration, and centrifugal filtration account for a significant amount of energy used in the processing industry. With the rising cost of energy across the globe, this factor critically affects the profit potential of the manufacturers thus, creating opportunities for other treatment processes over filtration processes. This is anticipated to decrease the growth potential of the market.
Global Industrial Filtration Market Report Snapshots
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