The bulk filtration industry is expected to grow from an estimated in USD 13.63 billion in 2024 to USD 18.76 billion by 2030, at a CAGR of 5.5% during the forecast period. Factors such as growing industrialization, advances in filtration technology, demand from various end use sectors are expected to propel the growth of bulk filtration market.
Key Market Players
Prominent players in the bulk filtration industry, such as Parker Hannifin Corp (US), Donaldson Company, Inc. (US), Filtration Group (US), MANN+HUMMEL (US), Eaton (Ireland) among others that offer various products for use by different end users. These players not only have a comprehensive and diverse product portfolio but also have a strong geographic presence. These players can focus on developing innovative bulk filtration offerings owing to the emergence of new application areas.
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Stakeholders
- Bulk filtration equipment manufacturers
- Utilities (generation, transmission, & distribution)
- Companies in the railway & metro industry
- Government and research organizations
- Investment banks
- Third party testing companies
- Bulk filtration manufacturers, dealers, and suppliers
- Organizations, forums, alliances, and associations
- State and national regulatory authorities
- Venture capital firms
The bulk filtration market is categorized by Fuel Type into fuels, lubricants, and hydraulic fluids. During the forecast period, the share of total bulk filtration market likely to be dominated by fuels. Emphasis on cleaner fuel standards has emerged as one of the key drivers, with growing demand for advanced filtration technologies. These systems are critical for protecting the inlets of engines and machinery from dirt, water, and particulates. The key benefit is that this will ensure smoother operating performance with less wear. In addition to overall better operating performance, filtration increases equipment life and reduces costs by minimizing downtime and maintenance.
By Filtration System, the bag filter segment is expected to grow at a high CAGR during the forecast period. Such a growth in this segment occurs because of being an efficient industrial filtration solution through fabric bags that filter off impurities from liquids and gases. Porous in nature, such bags trap solid particles while letting clean fluid or air pass. Their flexibility gives them a chance to be used at any point – in water treatment, wastewater management, and in controlling air pollution. In a bag filter, suspended solids get trapped, keeping the water quality even better. In air filtration, like in water or any liquid filtration, they remove dust, among the other pollutant matters causing harmful effects, and thus help make industrial emissions cleaner.
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The bulk filtration market in North America to grow at the highest CAGR during the forecast period. Filtration technologies in the US have undergone tremendous advancements in membrane filtration and advanced media systems. Fast growth of industries in the U.S. also creates a significant market for bulk filtration systems. The chemicals industry uses very complex processes and involves many raw materials, which requires effective filtration solutions to manage process streams and maintain product quality. The growth in industry, both in general and on the part of companies competing in markets, drives demand for filtration systems and underwrites continued investment and advances in filtration technologies.
