Filters Industry Growth Predictions 2023-2030
Author : scott Bang | Published On : 31 Oct 2023
Filters Industry Data Book | Forecast 2030
Filters Industry Data Book - Mobil & Engine Filters, Hydraulic & Lube Filters, Process Filters, Industrial Air Filters, Compressed Air Dryers and Filters Market
Grand View Research’s filters sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.
Access the Global Filters Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Mobil & Engine Filters Market Report Highlights
The fuel filters segment dominated the mobile & engine filters market in 2022, with a share of 38.4%. Fuel filters are an essential component for internal combustion engines as they screen the fuel for possible contaminants. The truck companies are investing in increasing their production capacities with an increase in demand, thus leading to increased demand for fuel filters. Furthermore, adoption of MRO services by several trucking and transport agencies for timely maintenance of their truck and bus fleet. Is expected to increase the aftermarket sales for fuel filters.
The engine air filters segment accounted for the second largest share of the mobile & engine filters market in 2022, with a share of 37.5%. This is attributed to the growing maintenance, repair, and overhaul industry for automobiles. The filters need to be periodically to prevent clogging of engine air systems. Innovations by companies toward increasing the service life of filters along with enhancing their strength and filtering capacity are expected to create new growth opportunities in the market.
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Hydraulic & Lube Filters Market Report Highlights
A rise in product demand in various application industries including automotive, power generation, marine, manufacturing, construction, mining, and agriculture is expected to add growth prospects to the market over the forecast period. The performance of every hydraulic filter is measured based on its contamination removal efficiency, thus ensuring reduction or no hydraulic fluid leakage due to clogging in the hydraulic system. The pressure side filters are anticipated to dominate the overall hydraulic & filters market in 2022 followed by the return side filters and the trend is likely to ascend at a positive rate over the forecast period owing to their wide application, especially in the construction application segment.
Pressure side filters help remove particles and contaminants from oil used in a hydraulic system. These filters are placed between the pump and actuators and used for medium to high-pressure hydraulic filtration. The high-pressure filter is the most common type of pressure filter used in the hydraulic system. These filters are stocked with a bypass check valve, which is fitted directly in the back of the pump enabling it to become the main filter for the complete flow of oil that helps to protect all hydraulic components against wear and tear.
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Process Filters Market Report Highlights
Liquid filtration systems dominated the process filters market in 2022, with a revenue share of 68.2%, and is expected to rise at a CAGR of 6.4% over the forecast period. This is attributed to the widespread usage of liquid filtration systems in several industries including food & beverage, wastewater treatment, power generation, mining, chemicals, and pharmaceuticals, for the removal of contaminants from process water, chemicals, and beverages.
Several kinds of process filters such as backflushing filters, bag filters, cartridge filters, and membrane filters are utilized for liquid filtration applications in marine, food & beverages, water & wastewater treatment, power generation, chemicals, pharmaceuticals, mining, microelectronics, and snowmaking industries. They are used for filtering out oils, process water, wine & other beverage items, and chemicals.
Industrial Air Filters Market Report Highlights
The use of industrial air filters in verticals dealing with manufacturing processes is expected to increase the product demand over the forecast period owing to the increasing concern towards reducing the risk of microbiological as well as molecular contamination in industrial premises. Industrial air filter products such as dust collectors, oil mist collectors, HEPA filters, and wet scrubbers are commonly used industrial air filters in various end-use industries to help control the generation of hazardous, toxic, and radioactive gas streams.
Compressed Air Dryers and Compressed Air Filters Market Report Highlights
Extensive use of compressed air dryers and air filters for removing particulate, oil, and mist, which could affect the performance of compression systems used in various end-use industries is expected to increase product utilization over the forecast period. Oil removal application is expected to dominate the market in 2022 based on revenue and the trend is expected to remain the same over the forecast period. This growth in the application segment is attributed to the extensive accumulation of fluid during the operation which gets spilled from the hydraulic system or during refueling activities, especially in the machining, construction, and automotive industries.
Competitive Insights
Key players are notably investing in research and development activities and continuously launching new products and services in the market to enhance customer productivity, thereby attaining business growth in the market. In addition, they are focusing on attracting and developing a qualified workforce and training them to develop their skills for the long-term benefit of the company. Furthermore, key participants are taking efforts to increase market penetration & presence and offer expanded product offerings in the selected market segments.
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