Prominent players operating in the global filter bags market
accounted for a combined revenue share of over 66.0% in 2015, notes
Transparency Market Research (TMR). Top players include Eaton
Corporation, Clarcor Inc., and BWF Envirotec. The market is fairly
competitive and features the presence of a significant number of small
and large players. In several of the key regions, notably in Asia
Pacific, regional players are putting forth tough competition to global
players with their low-cost products. These regional players are also
entering into alliances with domestic OEMs and vendors, in a move to
gain a strong foothold in the market. International players, therefore,
are focused on consolidating their sales channels and expanding their
operations to tap lucrative opportunities in emerging markets. These
strategic shifts will help them gain a competitive edge in various
regional markets.
The global filter bags market is
projected to expand at a CAGR of 5.6% from 2016 to 2024. The market
stood at US$1,811.7 mn in 2015, is projected to reach a valuation of
US$2,950.1 million by the end of the assessment period.
The various application areas of filter
bags are cement, mining, oil and gas, power plants, automobiles, defense
and marine, aerospace, and water treatment. Of these, the oil and gas
industry accounted for the leading share in the market in 2015 and is
projected to rise at a CAGR of 6.2% from 2016 to 2024. The demand for
filter bags from the industry is expected to surpass all other
application segments.
The various regional markets are North
America, Western Europe, Asia Pacific, Eastern Europe, Australia, the
Middle East & Africa (MEA), and Latin America. Of these, Asia
Pacific is estimated to lead the pack currently. The regional market is
anticipated to be the most attractive market offering abundant promising
opportunities through the forecast period. The growth is attributed
largely to an extensive demand for air filter bags in the region.
Request a PDF Brochure With Future Analysis@ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=14336
Need For Curbing Carbon Emission in Industrialized Nations to Bolster Demand
The substantially growing demand for
filter bags in several end-use industries to reduce emissions and to
ensure a healthy and safe environment for workers in various regions is a
factor driving the market. The growing awareness of curbing carbon
emission in various industrialized nations by reducing industrial
emissions in various developed nations is boosting the market. In
addition, governments in several developing and developed economies
focusing on achieving low-carbon economy and preserving the ecology is a
crucial factor accentuating the growth of the market. A number of
governmental agencies proving tax credits and incentives for enterprises
and companies adopting green processes is contributing to the demand
for filter bags.
0 comments:
Post a Comment