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The Market size of Industrial Filters is estimated at US$ 2.7 Billion in 2018 and is projected to reach US$ 3.7 Billion by 2023. This report focuses on the Industrial Filters in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East & Africa. This report categorizes the market based on manufacturers, regions, type and application.
“The liquid filter media type to be the larger segment of the industrial filters market.”
Based on type, liquid filter media is estimated to be the larger type of industrial filters during the forecast period. The demand for liquid filter media is comparatively higher owing to the high requirement of solid-liquid separation in all the major end-use industries considered in the study.
“The food & beverage end-use industry is projected to register the higher CAGR during the forecast period.”
Food & beverage is estimated to be the largest and fastest-growing application of industrial filters during the forecast period. The rapidly growing population and urbanization along with changing lifestyle have resulted in the growth of the food & beverage industry, globally. The rising demand for ready-to-eat food, convenience food, and processed & semi-processed food offers growth opportunities for the food & beverage industry, which, in turn, drives the industrial filters market.
“APAC is projected to be the largest industrial filters market during the forecast period.”
The APAC industrial filters market is projected to register the highest CAGR during the forecast period. This growth is attributed to the high demand from the food & beverage, chemical, and metal & mining end-use industries. Moreover, the demand for industrial filters is high in developing economies such as China, India, Brazil, and South Africa. The growing urbanization and industrialization are leading to the increased demand for potable water, which, in turn, is boosting the APAC industrial filters market.
Breakdown of primary participants’ profile:
- By Company Type– Tier1-25%, Tier2-50%, and Tier3-25%
- By Designation- C Level-20%, Director Level-30%, and Others-50%
- By Region-APAC-30%, Europe- 25%, North America-20%, South America-15%, and the Middle East & Africa-10%