“The global bag filter market is projected to grow at a CAGR of 5.54%, from 2018 to 2023.”
The global bag filter market is projected to reach USD 10.2 billion by 2023 from an estimated USD 7.80 billion in 2018, at a CAGR of 5.54%. This growth can be attributed to factors such as environment and safety regulations set by different governments to reduce air pollution, growth in the cement and mining industry, and requirement of a safe working environment in industries. However, slow implementation of pollution control reforms and unfavorable economic conditions could act as restraints for the market.
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“The Pulse Jet segment is expected to be the fastest growing market from 2018 to 2023.”
The pulse jet segment is expected to hold the largest market share in 2018 and is estimated to be the fastest growing segment during the forecast period. Pulse jet bag filters are increasingly used in industries because of their easy and dependable operation for high-volume dust collection applications. Furthermore, pulse jet bag filters also reduce maintenance and downtime costs. Highly polluting industries such as the chemical industry, mining, and power generation increasingly rely on pulse jet bag filters to meet their emission norms.
“The air bag filter segment by fluid type is expected to be the largest market from 2018 to 2023.”
The air bag filter segment is expected to hold the largest market share during the forecast period because of their increasing demand in highly polluting industries such as power generation, mining operation, chemical, and cement industries. The Asia Pacific market is expected to hold the largest market for air fluid type bag filter with rapid adoption in countries such as China and India. Rapid urbanization and growing demand for clean air are driving the market for air type bag filters in this region.
“Rapid expansion of cement plants to meet the growing infrastructure requirements is expected to drive the cement segment market between 2018 and 2023.”
The cement segment, by application, held the largest market share in 2017 and is estimated to be the fastest growing segment during the forecast period because the cement industry is one of the most pollution causing industries in the world and the rapid expansion of cement plants to meet the growing infrastructure requirements can act as a driver for bag filters in the cement industry. The Asia Pacific region is expected to hold the largest market share for the cement segment between 2018 and 2023 because China and India are among the top 2 cement producers in the world.
“North America: The second fastest growing market for bag filters.”
The North American region is expected to be the 2nd fastest growing market for bag filters by 2023. The bag filter market in this region is mainly driven by stringent environmental laws and the US being one of the top polluters in the North American region as well as in the world. Countries such as the US and Canada are among the top global polluters of particulate emissions and there are strict penalties and emission norms for highly polluting industries such as cement and power which is driving the bag filter market in this region.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.
The distribution of primary interviews is as follows:
- By Company Type: Tier 1- 60%, Tier 2- 23%, and Tier 3- 17%
- By Designation: C-Level- 35%, Director Level- 25%, and Others- 40%
- By Region: Asia Pacific- 29%, Europe- 22%, North America- 18%, Middle East- 14%, Latin America- 12%, and Africa-5%
Note: Others includes sales managers, marketing managers, product managers, and product engineers.
The tier of the companies is defined on the basis of their total revenue as of 2017. Tier 1: USD 1 billion, Tier 2: From USD 1 billion to USD 500 million, and Tier 3:
The global bag filter market is dominated by a few major players that have a wide regional presence. The leading players in bag filter market are Babcock & Wilcox (US), Eaton (Republic of Ireland), Donaldson (US), Camfil Farr (Sweden), and Parker Hannifin (US).
- The report defines, describes, and forecasts the global bag filters, by type, media, fluid type, application, and region. It also offers a detailed qualitative and quantitative analysis of the market.
- The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market.
- These include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the bag filter market.
Why buy this report?
- The report identifies and addresses key markets for bag filters, which would help manufacturers review the growth in demand.
The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges. The report will help key players understand the strategies of their competitors better and help then in making better strategic decisions.