The portable filtration systems market is expected to grow from an estimated $512.6-million in 2017 to $621.4-million by 2022, registering a compound yearly growth rate of 3.93 over this time.
Market research company MarketsandMarkets explains that stringent government regulations, growth in power generation and rising manufacturing activities are driving the portable filtration systems market globally.
The power generation industry will hold the largest share in the portable filtration systems market between 2017 and 2022. The company points out that the power generation end-user segment accounted for a major share in the portable filtration systems market, with the rise in power generation capacity, especially in the Asia Pacific region, driving demand in the global portable filtration systems market.
According to UK energy company EDF Energy, about 75% of electricity in China is generated by coal-fired power plants and the trend is expected to continue in the future. The pressure filtration segment is expected to hold the largest share of the portable filtration systems market during the forecast period, MarketsandMarkets says.
Further, the company highlights that the pressure filtration segment led the portable filtration systems market in 2016 and is projected to dominate the market during the forecast period. The pressure filtration segment is also expected to grow at the fastest rate during this time. The low initial cost and operating cost compared with centrifugal and vacuum filtration systems is contributing to the segments growth and a large market share.
The MarketsandMarkets report states that the Asia Pacific region is the leading market for portable filtration systems. The report states that the portable filtration systems market in five regions has been analysed, namely North America, Europe, Asia Pacific, Middle East and Africa, and South America. The portable filtration systems market is expanding in developing countries, owing to the growth in power generation capacity and rapid industrialisation in those countries.
The market in Asia Pacific is expected to dominate the global portable filtration systems market, with the highest share. The region is expected to maintain its dominance in the portable filtration systems market during the forecast period. To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the portable filtration systems market.
MarketsandMarkets explains that the players include manufacturer Parker Hannifin, filtration, separations and purification products supplier Pall, engineering firm Bosch Rexroth, filter manufacturer Eaton and filtration manufacturer Donaldson Company.
“The leading players are trying to understand the markets in developing economies and are adopting various strategies to increase their market share,” the company says.
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