Filters Industry Data Book - Mobil & Engine Filters, Hydraulic & Lube Filters, Process Filters, Industrial Air Filters, Compressed Air Dryers and Filters Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030
The global Filters Industry was valued at USD 40.19 billion in 2022 and is anticipated to increase at a significant CAGR of 6.0% from 2023 to 2030.
Grand View Research’s filters sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.
Mobil & Engine Filters Market Insights
The global Mobil & Engine Filters Market size was valued at USD 11.2 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 3.8% from 2023 to 2030. The fuel filters segment dominated the mobile & engine filters market in 2022, with a share of 38.4%. Fuel filters are an essential component for internal combustion engines as they screen the fuel for possible contaminants. The truck companies are investing in increasing their production capacities with an increase in demand, thus leading to increased demand for fuel filters. Furthermore, adoption of MRO services by several trucking and transport agencies for timely maintenance of their truck and bus fleet. Is expected to increase the aftermarket sales for fuel filters.
The engine air filters segment accounted for the second largest share of the mobile & engine filters market in 2022, with a share of 37.5%. This is attributed to the growing maintenance, repair, and overhaul industry for automobiles. The filters need to be periodically to prevent clogging of engine air systems. Innovations by companies toward increasing the service life of filters along with enhancing their strength and filtering capacity are expected to create new growth opportunities in the market.
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Process Filters Market Insights
The global Process Filters Market was valued at USD 15.4 billion in 2022 and is expected to grow at a CAGR of 6.6% over the forecast period from 2023 to 2030. Liquid filtration systems dominated the process filters market in 2022, with a revenue share of 68.2%, and is expected to rise at a CAGR of 6.4% over the forecast period. This is attributed to the widespread usage of liquid filtration systems in several industries including food & beverage, wastewater treatment, power generation, mining, chemicals, and pharmaceuticals, for the removal of contaminants from process water, chemicals, and beverages.
Several kinds of process filters such as backflushing filters, bag filters, cartridge filters, and membrane filters are utilized for liquid filtration applications in marine, food & beverages, water & wastewater treatment, power generation, chemicals, pharmaceuticals, mining, microelectronics, and snowmaking industries. They are used for filtering out oils, process water, wine & other beverage items, and chemicals.
Go through the table of content of Filters Industry Data Book to get a better understanding of the Coverage and scope of the study
Filters Industry Data Book Competitive Landscape
Key players are notably investing in research and development activities and continuously launching new products and services in the market to enhance customer productivity, thereby attaining business growth in the market. In addition, they are focusing on attracting and developing a qualified workforce and training them to develop their skills for the long-term benefit of the company. Furthermore, key participants are taking efforts to increase market penetration & presence and offer expanded product offerings in the selected market segments.
Key players operating in the Filters Industry are:
- 3M
- Parker Hannifin Corporation
- Donaldson Company, Inc.
- Man+Hummel GmbH
- Cummins Inc.
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