(MENAFNEditorial) LONDON, Nov. 20, 2017 /PRNewswire/ -- "The portable filtration systems market is projected to grow at a CAGR of 3.93%, from 2017 to 2022"
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The portable filtration systems market is projected to reach USD 621.4 million by 2022, at a CAGR of 3.93%, from 2017 to 2022. Stringent government and environmental regulations, addition in power generation capacity, rapid industrialization, and growth in manufacturing activities are the major drivers of the portable filtration systems market.
Factors, such as availability of cheaper alternatives and emerging renewable energy sources along with lack of product information can hinder the growth in the portable filtration systems market.
"The power generation end-user segment, is expected to grow at the highest CAGR, from 2017 to 2022"
The power generation, is likely to grow at the highest CAGR, during 2017 to 2022. It led the portable filtration systems market in 2016 and is projected to dominate the market during the forecast period.
This particular market is expected to grow in the future as a result of the rapid expansion in the power generation capacities of countries, such as India and China have led to a high demand for portable filtration systems. Moreover, the North American power generation industry is mature and old thermal power generation facilities are being replaced with advanced eco-friendly power generation facilities, which is further expected to drive the demand for portable filtration systems in North America.
"The 0–10 GPM flow rate segment is expected to hold the largest share of the portable filtration systems market during the forecast period"
The 0–10 GPM segment is expected to lead the portable filtration systems market, by flow rate from 2017 to 2022. The segment finds application in most industrial processes where fluid filtration is required due to comparatively less cost of small portable filtration systems with low flow rates and a high to medium viscosity range.
"Asia Pacific: The largest market for portable filtration systems"
The market in Asia Pacific is currently the largest market for portable filtration systems, followed by North America. The market in Asia Pacific is primarily driven by China and India. Asia Pacific is the largest consumer of portable filtration systems in the world owing to large number of power generation plants and refineries in the region. Moreover, China has also established itself as an industrial country with its industrial zone contributing more than 45% to the country's GDP. Growing industrial investments and developments in the region have enormously amplified power generation and consumption, making it one of the most productive markets for portable filtration system manufacturers.
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- 47%, Tier 2- 34%, and Tier 3- 19%
- By Designation: C-Level- 42%, Manager Level- 39%, and D-Level- 19%
- By Region: North America- 35%, Asia Pacific- 30%, Europe- 20%, Middle East-10%, and RoW- 5%
Notes: The tier for companies has been defined on the basis of their total revenue, as of 2016: Tier 1=>USD 5 billion, Tier 2=from USD 1 billion to USD 5 billion, and Tier 3=
Leading players in the portable filtration systems market include Parker-Hannifin (US), Pall (US), Bosch Rexroth (Germany), Eaton (Ireland), Donaldson Company (US), HYDAC International (Germany), Walter Stauffenberg (Germany), and Y2K Fluid Power (US).
Research Coverage:
The report defines, describes, and forecasts the global portable filtration systems market by technology, flow rate, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of major market drivers, restraints, opportunities, challenges, and key issues. It also covers various important aspects of the market.
Why buy this report?
The report identifies and addresses key technology providers for portable filtration systems which would help service providers, review the growth in the demand for services.
The report helps system providers understand the pulse of the market and provide insights into drivers, restraints, and challenges.
The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.
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