Industrial Filtration Market Summary
As per Market Research Future Analysis, the Global Industrial Filtration Market was valued at USD 34.93 Billion in 2023 and is projected to grow to USD 63.39 Billion by 2032, with a CAGR of 6.12% from 2024 to 2032. The growth is driven by increasing demand from end-use industries such as food and beverage, chemicals, and power generation, particularly in emerging Asia-Pacific markets. Innovations in filtration technology and rising industrialization are further propelling market expansion.
Key Market Trends & Highlights
Key trends influencing the Industrial Filtration Market include:
- Liquid filtration segment held ~65-68% market share in 2022.
- Asia-Pacific market accounted for USD 9,633.4 million in 2022, expected to grow at 6.2% CAGR.
- Battery materials & chemicals segment dominated in 2022 due to rising demand from electric vehicles.
- Government regulations in North America are driving filtration demand, particularly under the Clean Air Act.
Market Size & Forecast
2023 Market Size | USD 34.93 Billion |
2024 Market Size | USD 37.16 Billion |
2032 Market Size | USD 63.39 Billion |
CAGR (2024-2032) | 6.12% |
Major Players
Key companies include METSO (Finland), ANDRITZ Group (Austria), FLSmidth (Denmark), BHS-Sonthofen GmbH (US), and Tsukishima Holdings Co. Ltd. (Japan).