According to the new market research report „Air Treatment Market by Technology (HEPA Filters, Activated Carbon), Product (Dust Collector, Engine exhaust systems), Application (Exhaust air and Compressed air), Vertical (Manufacturing, Automotive), and Geography – Global Forecast to 2023“, the air treatment market, the market is expected to be worth USD 17.39 billion by 2018 and USD 25.56 billion by 2023, growing at a CAGR of 8.00% during the forecast period.
The growth of the air treatment market is driven by factors such as increasing industrialization and urbanization, stringent regulations governing emissions and treatment of industrial effluents, and the need for achieving high efficiency with mechanical equipment and factory processes.
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Dust collectors to hold largest share of air treatment market by product till 2018
Dust collectors are expected to hold the largest share of the air treatment market by 2018. Dust collector systems are widely used in industries such as automotive, oil & gas, energy & power, and manufacturing to prevent emission of dust and particulate matter into the atmosphere. Factors such as wide range of application in various end-use industries and stringent emission laws are to drive the market for dust collectors in 2018.
Manufacturing to hold largest share of air treatment market by vertical till 2018
Rapid expansion of production capacity and industrialization supporting growth of manufacturing industries (specially in emerging economies like China and India), stringent environment laws and regulations governing industrial emissions, and economic growth in developing countries have led to increasing demand for air treatment systems in the manufacturing vertical.
Air treatment market in APAC to hold the largest share during forecast period
The air treatment market in APAC is expected to hold the largest share during the forecast period. Increasing population, rapidly growing economies, and government initiatives to promote industrial growth have made APAC an ideal destination for production units for verticals such as semiconductor fabrication, consumer electronics, and automobiles. Advancements in terms of economic growth, infrastructural developments, and construction of power plants are expected to boost the growth of the air treatment market in APAC in the coming years.
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Freudenberg Filtration Technologies (Freudenberg) (Germany), Donaldson Company Inc (Donaldson) (US), Parker Hannifin Corp. (Parker Hannifin) (US), Ahlstrom-Munksjö (Finland), Mann+Hummel (Germany), Cummins Inc. (US), Camfil Group (Sweden), and Atlas Copco AB (Sweden) are a few key players in the air treatment market.