The global Thermal Air Filtration Market is estimated to be valued at US$15.00 Bn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Thermal air filtration systems helps in removing particulate matter and other airborne contaminants from industrial exhaust streams and flue gases through collection and oxidation processes. These systems play a vital role in reducing air pollution.
One of the key trends in the thermal air filtration market is growing emphasis on industrial air pollution control. Stringent environmental regulations regarding emission control across various industries such as power generation, metals and mining etc. are driving the demand for thermal air filtration systems. Rapid industrialization and urbanization in developing regions of Asia Pacific and Latin America are expected to generate significant opportunities in the coming years.
Market key trends:
The thermal air filtration market has been witnessing considerable growth owing to the stringent air pollution control regulations imposed by regulatory bodies across the globe. The regulations such as National Emission Standards for Hazardous Air Pollutants (NESHAP) in the U.S. have mandated the deployment of highly efficient air filtration systems at industrial facilities to curb the emissions of particulate matter and toxic gases. This has significantly driven the demand for thermal air filtration systems in end-use industries like oil & gas, energy & power, manufacturing, chemicals among others over the past few years.
SWOT Analysis
Strength: Thermal air filtration systems offer high filtration efficiencies of up to 99.999% for removal of fine particulates and other air pollutants from industrial exhaust streams. They also withstand harsh operating conditions of high temperatures.
Weakness: High initial capital costs and maintenance expenses of thermal air filtration systems. Require skilled workforce for operation and management.
Opportunity: Rising investments by governments and private players in emission control technologies to meet stringent environmental norms worldwide. Growing industrialization in Asia Pacific creating opportunities.
Threats: Availability of cheaper conventional air filtration alternatives. Economic slowdowns affecting capital expenditures of end-use industries.
Key Takeaways
The global thermal air filtration market is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period 2023 to 2030, due to increasing investments by governments and private players in advanced pollution control technologies to curb industrial emissions.
The thermal air filtration market size for 2023 is estimated at US$15.00Bn. The oil & gas industry dominates the application segment owing to large-scale deployment at refineries and petrochemical plants for controlling particulate and toxic gas emissions. Asia Pacific dominates currently due to presence of manufacturing and process industry hubs in China, India, Indonesia, and accounts for around 35% of the global market share.
Key players operating in the thermal air filtration market are Fives, Babcock & Wilcox MEGTEC, John Zink Company,Llc, ZEECO,Inc, Eisenmann Corporation, CECO Environmental Corporation, Honeywell International, CTP(Chemisch Thermische Prozesstechnik) GmbH, Anguil Environmental, Process Combustion Corporation, CEC-ricm, Inc, Catalytic Products International (CPI), Bayeco, Inc, The CMM Group, Air Clear, Perceptive Industries, Pollution Systems, Glenro, and APC Technologies.