Industrial Air Filtration Global Market Opportunities and Strategies to 2033

This report describes and explains the industrial air filtration market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global industrial air filtration market reached a value of nearly $14 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4.1% since 2018. The market is expected to grow from $14 billion in 2023 to $20 billion in 2028 at a rate of 7.4%. The market is then expected to grow at a CAGR of 7.8% from 2028 and reach $29.2 billion in 2033.

Growth in the historic period resulted from the rising industrialization, increasing focus on workplace safety, favorable government emission norms and energy efficiency concerns. Factors that negatively affected growth in the historic period were high costs associated with filtration systems and high operational cost.

Going forward, rise in air pollution levels, increasing demand for clean energy, increasing adoption of internet of things (IoT) and smart technologies and growing environmental awareness will drive the growth. Factor that could hinder the growth of the industrial air filtration market in the future include longer lifespan of air filtration systems and growing cost of energy.

The industrial air filtration market is segmented by product into dust collectors, wet scrubbers, mist collectors, fume collectors, HEPA filters, cartridge collectors and filters, baghouse filters and other products. The wet scrubbers market was the largest segment of the industrial air filtration market segmented by product, accounting for 42.8% or $6 billion of the total in 2023. Going forward, the mist collectors segment is expected to be the fastest growing segment in the industrial air filtration market segmented by product, at a CAGR of 8.7% during 2023-2028.

The industrial air filtration market is segmented by application into new system and replacements. The replacements market was the largest segment of the industrial air filtration market segmented by application, accounting for 69.2% or $8.8 billion of the total in 2023. Going forward, it is expected to be the fastest growing segment in the industrial air filtration market segmented by application, at a CAGR of 7.8 % during 2023-2028.

The industrial air filtration market is segmented by end-user into cement, food and beverages, metal, power, pharmaceutical, chemical and petrochemical, agriculture and other end users. The food and beverages market was the largest segment of the industrial air filtration market segmented by end-user, accounting for 20.3% or $2.8 billion of the total in 2023. Going forward, it is expected to be the fastest growing segment in the industrial air filtration market segmented by end-user, at a CAGR of 9% during 2023-2028.

Asia Pacific was the largest region in the industrial air filtration market, accounting for 37.4% or $5.2 billion of the total in 2023. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the industrial air filtration market will be Asia Pacific and South America where growth will be at CAGRs of 9.1% and 7.8% respectively. These will be followed by North America and Western Europe where the markets are expected to grow at CAGRs of 7.2% and 6.1% respectively.

The global industrial air filtration market is fairly concentrated, with a few large players operating in the market. The top ten competitors in the market made up to 31.6% of the total market in 2022. The market concentration can be attributed to the presence of large number of players in different geographies. Prominent players are acquiring the products and entering into partnerships with the other companies to consolidate their market positions across the globe, while others are distributing products. Nederman was the largest competitor with a 8.5% share of the market, followed by Camfil Svenska AB with 5.4%, Donaldson Company with 4.6%, Parker Hannifin Corporation with 4.4%, American Air Filter Company Inc. (AAF International) with 3.2%, Freudenberg Filtration Technology with 2.7%, MANN+HUMMEL GmbH. with 1.5%, Daikin Industries Ltd with 0.6%, Midwesco Filter Resources Inc. with 0.3% and SPX Corporation with 0.3%.

The top opportunities in the industrial air filtration market segmented by product will arise in the wet scrubbers segment, which will gain $3.1 billion of global annual sales by 2028. The top opportunities in the industrial air filtration market segmented by application will arise in the replacements segment, which will gain $4 billion of global annual sales by 2028. The top opportunities in the industrial air filtration market segmented by end-user will arise in the food and beverages segment, which will gain $1.5 billion of global annual sales by 2028. The industrial air filtration market size will gain the most in China at $1.7 billion.

Market-trend-based strategies for the industrial air filtration market include focus towards enhanced versatility and efficiency, innovative, advanced air purification systems to enhance indoor air quality and increased focus on sustainable air filtration solutions to reduce environmental impacts.

Player-adopted strategies in the industrial air filtration market include expanding business through new product developments, focusing on strategic partnerships to develop their business expertise and enhancing business capabilities through the strategic acquisitions.

To take advantage of the opportunities, the analyst recommends industrial air filtration companies to focus on innovation for market growth, focus on innovative air filtration solutions, focus on sustainable air filtration solutions, focus on mist collectors and wet scrubbers segments, expand in emerging markets, continue to focus on developed markets, focus on diversifying distribution channels for market expansion, provide competitively priced offerings, focus on value-based pricing for competitive advantage, continue to use B2B promotions, leverage digital marketing channels for enhanced visibility, invest in content marketing to demonstrate expertise, focus on replacements segment and focus on food and beverages and pharmaceutical segments.