Filtration and contamination control have become an integral part of the industrial processes and automotive sector, with the continuous need for enhancing the quality of the products and reducing the contamination level in liquids and other fluids. This further helps in reducing the operating cost and eliminating the amount of wastage, thereby increasing the life of the equipment. The market for filtration and contamination control is being majorly driven by the stringent environmental regulations and growing industrialization.
Market overview
The global filtration and contamination control market is expected to reach a value of USD 39.73 Billion by 2022, growing at a CAGR of 5.13% during the forecast period from 2017 to 2022.
On the basis of customer type, the aftermarket customer type held the largest share of the market in 2016, owing to the high rate of deployment of replacement filters across industries like automobiles, chemical & petrochemicals refineries, oil & gas, and process industries. However, the OEM type is expected to grow at the highest CAGR over the forecast period.
Based on filtration type, the liquid filtration accounted for the largest market share and is also expected to witness the highest growth during the forecast period, owing to the growth of the industries in emerging economies such as China, India, Brazil, and Saudi Arabia.
Among applications, the industrial segment is projected to grow at the highest CAGR over the forecast period, with the industrial machinery application expected to be the leading segment in industrial filtration market, owing to the high deployment rate and diffusion of filtration devices across chemical and petrochemical refineries.
Geographical growth scenario of the market
Among regions, the market in North America held the largest share in 2016, followed by Europe and Asia-Pacific, with the U.S. being the major market, followed by Canada and Mexico. The growth of this market can be majorly attributed to the presence of key manufacturers of filtration products in this region. In addition, the rising adoption of cleaner fuels because of strict policies on environmental emissions, huge demand from oil & gas and aerospace industries, and continuous upgradations in the power generation sector are expected to further boost the growth of this market.
Drivers and restraints for the market
The growth of the global market for filtration and contamination control is being primarily influenced by the following factors:
- High demand across on-road and off-road applications
- Increased restrictive environmental regulations
- Need for mechanical equipment and factory processes with higher efficiency and performance
In addition, increasing industrialization in developing countries, continuous upgradations in emission standards, and emerging alternative and renewable energy source are the factors that may create ample growth opportunities for this market.
However, increasing demand for electric vehicles is expected to hamper the growth of this market to a certain extent. Also, the fluctuating cost of raw materials is a key challenge for the players operating in this market.
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Major players and growth strategies adopted
The major companies involved in the worldwide market for filtration and contamination control include MANN+HUMMEL Holding GmbH (Germany), Donaldson Company, Inc. (U.S.), Cummins Inc. (U.S.), Parker-Hannifin Corp. (U.S.), Pall Corporation (U.S.), Clarcor Inc. (U.S.), Filtration Group Corporation (U.S.), Eaton Corporation plc (Ireland), HYDAC International GmbH (Germany), and CECO Environmental Corp. (U.S.).
