According to TMR, the global fabric filters market is estimated to expand at a CAGR of 6.3% over the forecast period from 2019 to 2027 to attain a value of US$ 18.8 Bn by 2027-end. The market stood at US$ 10.8 Bn in the year 2018.
Segmental Outlook: Global Fabric Filters Market
Based on the type, the pulse jet segment dominated the overall market in 2018 by accounting for 55% share and is expected to remain dominant over the forecast period. Based on the application, the pharmaceutical segment dominated global fabric filters market and is likely to be the dominant segment by the end of forecast period. Based on the region, the Asia Pacific is predicted to be the prominent region in the coming years, growing at a rapid CAGR over the forecast period from 2019 to 2027.
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Growing Environmental Concern to Boost Adoption of Fabric Filter and Benefit Market Growth
Fabric filters are of incredible preferred when high productivity of molecule is required. Fabric filter system isolates strong from gasses or fluids in which the fluid or gas goes through a permeable fabric medium that holds the solids. Fabric filtration process works in a bunch or with interims with occasional expulsion of stored solids. It comprises of at least one compartments that contain lines of fabric pack. Widening application is raising growth of the fabric filter market, as the need to expel mercury use is resulting to adoption and demand for the fabric filter systems. This is a key factor driving growth of the global fabric filters market.
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Additionally, the utilization of fabric filter systems is relies upon the few application factors including particulate material being gathered, fiery remains resistivity and fine particulate outflow prerequisites.
Expanding awareness about the effect of air contamination, expanding concerns over safeguarding ecology coupled with developing industrialization, which is leading to increase Earth-wide temperature and boosting growth of the global fabric filters market. Additionally, inborn high gathering effectiveness of particulates and metals offered by the fabric filter is another central point that is relied upon to drive the demand for fabric filter system. This is also boosting growth of the global fabric filters market.
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Growing Exploration of Alternative to Restrain Growth of the Market
However, the growing demand for substitutes including particulate control systems such as electrostatic precipitators might lead to hamper the growth of the fabric filter market. Additionally, expensive manufacturing increases the initial investment, which is posing as a challenge to the new entrants, and established players are facing the challenge during maintaining the profit ratios. This is a major challenge for key players.
Nonetheless, rapidly changing technology and higher adoption of advanced technologies is expected to boost sales of fabric filters in the coming years. Additionally, growing adoption of fabric filter from pharmaceutical industries is expected to offer lucrative opportunities for growth over the forecast period.
Global Fabric Filters Market Competitive Landscape
The global market includes prominent players such as Parker-Hannifen, Corporation, Cummins, Hamon Corporation, Affinia group, Pall Corporation, Siemens AG, and Nederman Corpo are some of the prominent players accounting for a leading share in the fabric filters market.