According to the report, the global filtration and separation industry generated $93.2 billion in 2020, and is anticipated to generate $141.2 billion by 2030, witnessing a CAGR of 4.1% from 2021 to 2030.
Prime determinants of growth
High focus on curbing water and air pollution is expected to boost the demand for filters, which in turn drives the filtration & separation market growth. However, higher purchasing and running cost of the filtration system is restraining the market growth. Nevertheless, the growing adoption of nanotechnology is expected to offer lucrative opportunities for the market.
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Covid-19 Scenario
- The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global filtration and separation market, owing to temporary halt of the production facilities.
- Construction and transportation activities, along with their supply chains, were hampered on a global level, which led to decline the demand for filtration & separation in the market, thereby restraining the growth of the market.
- However, the market is going to recover soon in 2022.
The gas & liquid segment to maintain its leadership status throughout the forecast period
Based on type, the gas & liquid segment held the highest market share in 2020, accounting for 94% of the global filtration and separation market, and is estimated to maintain its leadership status throughout the forecast period, owing to large scale application of filtration & separation of liquids and gases in industrial and municipal sector. Moreover, the air segment is projected to manifest the highest CAGR of 4.5% from 2021 to 2030, owing to increase in awareness about health for breathing pure air.
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The water & wastewater segment to maintain its lead position during the forecast period
Based on end user, the water & wastewater segment accounted for the largest share in 2020, contributing to more than one-third of the global filtration and separation market, and is projected to maintain its lead position during the forecast period. This is owing to use of filtration & separation of industrial and sewage application. However, the life sciences segment is expected to portray the largest CAGR of 5.0% from 2021 to 2030, owing to rapid rise in healthcare facilities and awareness for living a healthy life style.
North America to maintain its dominance by 2030
Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global filtration and separation market, owing to large scale application of filtration & separation plants in the region for municipal, industrial and life science end users. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 5.0% during the forecast period, owing to rapid development of countries such as China and India.
Leading Market Players
- Porvair Plc
- Ahlstrom-Munksjö
- Alfa Laval
- Danaher (Pall Corporation)
- Donaldson Company, Inc.
- Eaton Corporation
- Freudenberg Filtration Technologies SE & Co. KG
- Lydall, Inc.
- MANN+HUMMEL
- PARKER HANNIFIN CORP
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