Portable Filtration Systems Market Revenue to Hit $621.4 Million by 2022; at a CAGR of 3.93% from 2017 to 2022
According to the new market research report “Portable Filtration Systems Market by End-User (Power Generation, Manufacturing, Oil & Gas), Flow Rate (0–10, >10–20, >20–60, >60–100, and Above 100 GPM), Technology (Pressure, Centrifugal, and Vacuum Filtration), and Region – Global Forecast to 2022”, published by MarketsandMarkets™, the The portable filtration systems market is expected to grow at a CAGR of 3.93%, from 2017 to 2022, to reach a market size of USD 621.4 million by 2022. The growth in this market is driven by the growth of the power generation segment and rising manufacturing activities, majorly in the Asia Pacific region together with stringent environmental regulations.
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The portable filtration systems market is dominated by a few major players that have a wide regional presence and are established brand names. Leading players in the portable filtration systems market, such as Parker-Hannifin (US), Pall (US), Bosch Rexroth (Germany), Eaton (Ireland), and Donaldson Company (US), have been focusing on the organic growth strategy which includes developing new products to bolster their product portfolio and to enhance their global reach.
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With regard to the technology segment, the pressure filtration systems market is expected to be the fastest growing market from 2017 to 2022. Further, in terms of market size, the pressure filtration segment would dominate the portable filtration systems market. The pressure filtration systems are preferred over centrifugal and vacuum filtration systems as these systems have low initial and operating costs.
The report segments the portable filtration systems market, based on flow rate, into 0 to 10, >10 to 20, >20 to 60, >60 to 100, and above 100 GPM segments. The less cost of systems with low rates and high viscosity is driving the market for the 0 to 10 GPM segment, as it is the most common flow rate and has applications in all most all industrial processes.
The portable filtration systems market has been segmented on the basis of end-user into manufacturing, power generation, oil & gas, paper and pulp, petrochemicals, and others. The power generation segment is the major end-user market for portable filtration systems, and is the major driver for the portable filtration systems market. Moreover, growth in manufacturing activities around the world, specifically in emerging economies, such as India and China is further fueling the growth in the portable filtration systems market.
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The market in Asia Pacific is estimated to be the fastest growing portable filtration systems market from 2017 to 2022. Investments in power generation capacities and growing manufacturing activities in countries such, as China, India, and Japan are likely to be the major drivers for the portable filtration systems market in Asia Pacific.
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