The global bag filter market is expected to grow from an estimated USD 7.8 billion in 2018 to USD 10.2 billion by 2023, at a CAGR of 5.54%. The growth of this market is driven by the increase in the growth of the cement and mining industry, requirement of a safe working environment in industries, and environment and safety regulations set by different governments to reduce air pollution.
The global bag filter market is dominated by 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 major strategies adopted by the players include new product launches, investments & expansions, mergers & acquisitions, contracts & agreements, partnerships, and collaboration. Mergers & acquisitions was the most commonly adopted strategy from August 2015 to November 2018. These industry players also adopted contracts & agreements and new product launches as major strategies during that period.
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Babcock & Wilcox (B&W) is one of the leading companies that provide energy and environmental technologies and services to power and industrial markets, globally. The company operates its business through 3 segments, namely, power, industrial, and renewable. It provides bag filters under its industrial segment. The industrial segment generated 25.4% of the total revenue in 2017. In June 2014, Babcock & Wilcox Power Generation Group, one of the subsidiaries of Babcock & Wilcox, acquired Megtec, one of the leading suppliers of innovative environmental control technologies worldwide. Through Megtec, B&W provide environmental products and services to various industries. The company offers its products and services in over 90 countries. Some of its subsidiaries include Allen-Sherman-Hoff ash and material handling, Babcock & Wilcox steam generation and environmental system, and B&W Vølund renewable energy systems.
Eaton is a power management company that offers a wide range of products related to fuel-efficient systems and power chain management tools. The company operates through 5 business segments, namely, electrical products, electrical systems and services, vehicle, hydraulics, and aerospace. The company provides bag filters under its hydraulics business segment. The principal markets for these products are renewable energy, marine, agriculture, oil and gas, construction, mining, forestry, utility, material handling, truck and bus, machine tools, molding, primary metals, and power generation. The hydraulics segment held a 12.1% share of the company’s total revenue in 2017. Eaton has its presence in more than 175 countries. In the past 5 years, the company invested approximately USD 3.1 billion in R&D for developing new products and catering them to its customers. Some of its subsidiaries include Eaton Hydraulic LLC, Eaton Electrical, Inc., Eaton Electrical B.V., Moeller Electric Corp, and Eaton Electric SA.
The Bag Filter Market by Type (Pulse Jet, Shaker, Reverse Air), Media (Woven, Non-Woven), Fluid Type (Air, Liquid), Applications (Power Generation, Cement, Mining, Chemical, and Municipal), and Region - Global Forecast to 2023
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