Market Size of Turbine Air Filtration Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 3.27 % |
| Fastest Growing Market | South America |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Turbine Air Filtration Market Analysis
The global turbine air filtration market is expected to grow at a CAGR of 3.27%, accounting from USD 1.92 billion in 2020 to USD 2.36 billion in 2027. The market was severely impacted due to the COVID-19 since the prime consumers of the market, such as the oil & gas industry and power generation industry, also witnessed a decline in the market activities. Factors such as the adoption of natural gas-fired power plants, due to increasing focus on clean power generation, are expected to experience robust growth in the coming years, and this, in turn, is expected to drive the turbine air filtration market due to its vast application in the power sector. However, The rising adoption of renewable energy, such as solar and wind energy, is likely to hinder the market growth during the study period.
- The power generation segment is expected to be the largest segment for the turbine air filter market, with gas turbine power generation has evolved to be one of the most viable and environmentally-friendly methods of power production.
- The governments of China, India, and other developing economies have been preferring low-polluting gas-based power stations. This, in turn, is expected to create opportunities for the regional turbine air filtration systems market in the near future.
- Asia-Pacific is expected to dominate the market's growth, with the majority of the demand coming from countries such as China and India.
Turbine Air Filtration Industry Segmentation
The turbine air filtration market report includes:
| Application | |
| Power Generation | |
| Oil and Gas | |
| Others |
| Face Velocity | |
| Low Velocity | |
| Medium Velocity | |
| High Velocity |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Turbine Air Filtration Market Size Summary
The turbine air filtration market is poised for growth, driven by the increasing adoption of natural gas-fired power plants as part of the global shift towards cleaner energy sources. This transition is particularly evident in the power generation sector, where gas turbine power generation is becoming a preferred method due to its environmental benefits. The market's expansion is supported by the need for efficient air filtration systems to ensure the reliability and efficiency of turbines, which are critical components in these power plants. Despite the positive outlook, the market faces challenges from the rising adoption of renewable energy sources like solar and wind, which could potentially hinder growth during the forecast period.
Asia-Pacific is expected to lead the market's growth, with significant demand emerging from countries such as China and India. The region's dominance is attributed to its rapid industrialization, urbanization, and infrastructural developments, which are driving the need for gas-fired power generation to meet increasing electricity demands. The presence of numerous chemical industries and favorable labor costs further bolster the manufacturing sector, contributing to the market's expansion. Key players in the industry are focusing on strategic expansions and innovations to cater to the region's growing needs, with China and India being pivotal markets due to their investments in refining, petrochemicals, and gas-fired power plants.
Turbine Air Filtration Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Application
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2.1.1 Power Generation
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2.1.2 Oil and Gas
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2.1.3 Others
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2.2 Face Velocity
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2.2.1 Low Velocity
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2.2.2 Medium Velocity
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2.2.3 High Velocity
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2.3 Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 South America
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2.3.5 Middle-East and Africa
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Turbine Air Filtration Market Size FAQs
What is the current Turbine Air Filtration Market size?
The Turbine Air Filtration Market is projected to register a CAGR of 3.27% during the forecast period (2024-2029)
Who are the key players in Turbine Air Filtration Market?
Camfil AB, Donaldson Company Inc., Nordic Air Filtration A/S, MANN+ HUMMEL GmbH and Graver Technologies LLC are the major companies operating in the Turbine Air Filtration Market.
