3M (US) and Parker - Hannifin (US) are the Leading Players in the Industrial Filtration Market
The global industrial filtration market is projected to reach USD 45.2 billion by 2027 from an estimated market size of USD 33.5 billion in 2022, at a CAGR of 6.2% during the forecast period. The key drivers for the growth of the industrial filtration market include government mandates and policies for environmental protection, the need for safe working environments in industrial facilities, increased demand for equipment reliability and extended lifecycle, and industrial development in developing countries.
The North America region is estimated to be the largest market for the Industrial filtration, followed by Europe. The North American region is expected to lead the industrial filtration market during the forecast period. The increasing investments in the manufacturing industry to control harmful particulate emissions and the rising stringent air pollution control norms are driving the industrial filtration market in the region.
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The industrial filtration market is served by a mix of large international players with operational presence across the globe and local players commanding a strong supply network in the domestic market. The leading players in the global industrial filtration market MANN + HUMMEL (Germany), Danaher (US), Parker - Hannifin (US), 3M (US), and Cummins (US).
3M is one of the leading manufacturers of industrial and mechanical products. The company has a diversified portfolio that caters to the demand of various markets such as electronics, telecommunications, industrial, consumer and office, healthcare, safety, and other markets. 3M operates its business through four business segments, namely, Safety and Industrial, Healthcare, Transportation and Electronics, and Consumer. The Safety and Industrial business segment offers industrial filtration, which accounted for 34.30% of the total sales generated by the company in 2020. The Safety and Industrial business segment offers a wide range of products, which include tapes, coated, nonwoven, and bonded abrasives, adhesives, ceramics, sealants, specialty materials, separation and purification products, closure systems for personal hygiene products, acoustic systems, and others. These products serve across various industries such as automotive, electronics, appliances, paper and printing, packaging, and food & beverages. The separation and purification products offer industrial filtration and gas management solutions, biopharmaceutical purification, medical & industrial membranes, and polymer additive. The company has a strong global presence. It operates 64 manufacturing facilities in 29 states of the US and 97 manufacturing and converting facilities in other 35 countries outside the US
Parker-Hannifin is an American corporation specializing in motion and control technologies. It operates through two business segments, namely, diversified industrial and aerospace systems. The company offers industrial filtration through the diversified industrial segment, which accounted for 83.40% of the total net sales in 2021. The diversified industrial business segment is further classified into five business subsegments, namely, engineered material group, filtration group, fluid connectors group, instrumentation group, and motion systems group. The filtration group business subsegment offers filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases. The company offers industrial filtration solutions to various end-use industries, which include food & beverages, metals & mining, bioprocessing, pharmaceuticals, and industrial. Parker Hannifin has a strong regional presence by operating in 45 countries. Its manufacturing, service, sales, distribution, and administrative facilities are in 39 states within the US and 44 other countries.
Related Reports:
Industrial Filtration Market by Type (Air & Liquid), Product (Filter Press, Bag, Drum, Depth, Cartridge, HEPA, ULPA), Filter Media (Activated Charcoal, Fiberglass, Filter Paper, Metal, Nonwoven Fabric), Industry and Region - Global forecast to 2027
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