Ceramic water filters market to generate substantial revenue over 2016-2023, escalating demand from residential applications to augment the industry growth
Ceramic Filters Market is expected to carve out a lucrative roadmap over the years ahead, subject to highly stringent rules enforced by regulatory bodies such as ASTM, REACH, EPA, and NSF. These organizations have set up strict norms that monitor drinking water filtration systems, thereby propelling the usage of water filters, which will fuel ceramic filters industry share. These organizations are also renowned to undertake supportive initiatives that govern water filtration across industrial and residential arenas. These filters control the BOD (biological oxygen demand) of sewage and waste water before it is disposed into fresh water bodies. In addition, they eliminate harmful pollutant emissions before they are discharged into the environment. This will provide a positive impetus to global ceramic filters market, which is expected to grow at a CAGR of 15.5% over 2016-2023, with a base valuation of USD 900 million.
U.S. Ceramic Filters Market size, by application, 2012 – 2023 (USD Million)
Global ceramic filters industry is fiercely competitive and includes the presence of many leading manufacturers. The rising carbon emissions and the subsequent regulatory pressure will bring in lucrative opportunities for companies to enhance their business position. Key participants of global ceramic filters market include Tri-Mer Corporation, Haldor Topsøe, Anguil Environmental Systems, Inc., Pall Corporation, Clear Edge Filtration India Pvt. Ltd., Glosfume Ltd., 3M, Unifrax, and Doulton. The product value chain is characterized by backward and forward integration.
Air filters are heavily deployed across residential and industrial sectors subject to regulatory mandates to monitor the emissions of carbon and other toxic pollutants. Air ceramic filters market size was worth USD 400 million in 2015 and is anticipated to increase substantially over the next few years. These filters are used in the industrial sector for hot gas filtration, bio filtration, and fluid filtration. Ceramic filters industry size from industrial applications was worth more than USD 300 million in 2015 and is expected to increase at a CAGR of 15.5% over 2016-2023.
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Asia Pacific held more than 33% of global ceramic filters market revenue, thereby accounting for the largest share in 2015. With India and China as key contributors, APAC ceramic filters industry size, with an initial valuation of USD 300 million in 2015, is expected to register lucrative gains over the next six years. This growth can be primarily attributed to the rapid industrialization in the region coupled with strict government norms regarding pollutant emissions.
Water ceramic filters market was valued for slightly lesser than USD 500 million in 2015. These products will be heavily used across the industrial and residential sectors for water filtration and air purification. Regulatory norms regarding air and water quality will propel water ceramic filters industry over the next few years.
Residential applications accounted for more than 40% of global ceramic filters market in 2015 and are anticipated to be the key application segment over the next six years. Huge demand for ceramic filters in residential complexes will spur the product demand, leading to ceramic filters industry growth from residential applications, especially, across the African countries.
Subject to the huge number of petrochemical industries and the rising economic growth, Middle East and Africa ceramic filters market is anticipated to grow at a profitable CAGR of 17.5% over 2016-2023. The population across this region has also experienced an increasing awareness regarding the importance of clean, purified water and high air quality, which will augment MEA ceramic filters industry size, slated to cross USD 150 million by 2023.
Ceramic filters are highly corrosion resistant and are inert to most chemicals. In addition, they possess excellent mechanical properties, which will augment product demand. However, volatile raw materials such as zirconium oxide, titanium oxide, and aluminum oxide are vulnerable to periodic price fluctuations. Furthermore, the availability of these materials is also fairly inconsistent, which may result in expensive manufacturing. This poses a major restraint to global ceramic filters market. However, market players have been striving to eliminate these constraints and make the manufacturing process a little less capital intensive.
Author Name :Saipriya Iyer
North America automotive aftermarket to accumulate substantial proceeds, global industry valuation to cross a humongous USD 1,420 billion by 2024
The changing preferences of consumers toward the comfort, appearance, & performance of vehicles has fueled automotive aftermarket to quite an admirable extent. As customers focus toward leading a luxurious lifestyle, complete with personalized vehicles for commuting in style, courtesy – increasing disposable incomes, automotive aftermarket is likely to witness lucrative gains in the years to come.
The subsequent wear and tear of existing automobiles will quite overtly lead to car owners wanting to replace old parts, enhance the vehicle’s appearance, and replace the car’s internal components for improved efficiency and safety. Eventually, this would propel the demand for state-of-the-art aftermarket parts, augmenting the commercialization landscape of automotive aftermarket.
U.S. Automotive Aftermarket, By Sales Outlet, 2017 & 2024, (USD Billion)
The ever expanding automotive sector is one of the most crucial drivers of the global automotive aftermarket. Over the last couple of decades, the demand for automobiles has only skyrocketed across the developed and developing economies. According to estimates by OICA, LCVs and passenger cars accounted for a sales figure of close to 86 million units in the year 2017 – apparently an upsurge of 2.4% when compared to the previous year. As the sales of commutable vehicles continue to increase and the demand for afterparts experiences an uptick, the remuneration portfolio of automotive aftermarket will undergo a significant change, as per experts.
Another trend that has lately made its presence felt in automotive aftermarket is the rising deployment of eco-friendly techniques in automotive manufacturing. Driven by a stringent regulatory landscape pertaining to environmental safety and the concerns stemming from rising carbon emissions, the demand for sustainable, alternative automobile parts has considerably increased, thereby driving the global automotive aftermarket share.
Unveiling North America automotive aftermarket trends over 2018-2024
North America, primarily driven by the United States and Canada, has been one of the most significant growth grounds for the global automotive aftermarket, which principally can be attributed to the expanding automotive industry in the region. The continent has been a witness to an upsurge in the production of new vehicles and the enhancement of older ones. Furthermore, the region is a powerhouse of technological advancements in automobile production and upgradation, which is likely to generate novel opportunities for aftermarket companies in the years to come.
North America is also remnant of a consumer base that demands increasing vehicle personalization, Bluetooth connection, digitization, and other interesting automotive electronics. The incorporation of advanced accessories is thus likely to drive North America automotive aftermarket. Incidentally, the region accounted for 30% of the overall automotive aftermarket share in the year 2017.
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Another pivotal factor likely to drive North America automotive aftermarket over the forecast period is the improved fuel economy that would quite overtly, augment the average miles that the customer drives, which would lead to increased wear and tear in vehicle parts. This would eventually fuel the requirement for aftermarket spare parts in the continent, stimulating North America automotive aftermarket industry trends.
Technological advancements have indeed had a major impact on the overall automotive aftermarket in the last half a decade. The surging demand for electrification and installation of software has been touted to generate novel avenues for aftermarket workshops and suppliers. The popularity of ADAS, infotainment systems, and telematics will also serve to augment the demand for technologically developed parts, that would help stimulate automotive aftermarket industry growth in the years to come.
Some of the most noteworthy players in automotive aftermarket fall along the likes of the 3M Company, Akebono Brake Corporation, Delphi, Denso, Continental AG, Robert Bosch GmbH, ACDelco, ASIMCO Technologies ltd., Federal-Mogul, Magneti Marelli, and more. In a bid to expand their reach across myriad geographies, these leading contenders have been rather proactive in adopting business growth tactics such as strategic collaborations. Citing an instance of the same, nearly a couple of years back, industry player Faurecia inked its third JV with its partners in Iran with an intention to consolidate its presence in the regional automotive aftermarket.
Author Name :Saipriya Iyer
Compressed air treatment equipment market to witness remarkable gains from food and beverage applications, APAC to drive the regional landscape
The profitability landscape of compressed air treatment equipment market is forecast to be positively high, given the extensive deployment of these products in today’s automated production units. Compressed air, rightly dubbed as 4th utility, is used as a safe and reliable power source in approximately 90% of the food companies in some aspect or the other. It is therefore of sheer importance that the quality of the air is maintained, subject to the fact that untreated air contains harmful contaminant, which if not properly processed, might as well lead to health hazards. In response to this alarming call, tech giants are continuously bringing up innovative treatment techniques, which by extension is spurring compressed air treatment equipment industry share.
U.S. Compressed Air Treatment Equipment Market Size, by Product, 2013 – 2024 (USD Million)
Thriving on the foundation of the unavoidable requirement of maintaining food safety, a strong regulatory framework has much to contribute in enhancing the compressed air treatment equipment outlook. Despite the fact that majority of food manufacturing processes are powered by compressed air, a substantially large fraction of these hygiene regulations is often overlooked in the air treatment, primarily due to dearth of proper technical knowhow. However, considering the increasing number of governmental efforts undertaken with regards to food safety regulations, it is expected that the situation may witness a turnaround in the coming years, which may have a considerable impact on compressed air treatment equipment industry share. Say for instance, the European Council and Parliament, under the regulation EC 852/2004, has chalked out certain standards on food hygiene that food manufacturers need to comply with. With other regional governments likely to take cue from the aforementioned precedence, compressed air treatment equipment market outlook may soon witness a transformative change of sorts.
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Speaking along the similar lines, food manufacturers need to initiate written food safety management system (FSMS) based on HACCP principles to maintain these hygiene legislations. The fact that compressed air supply is closely linked to food sector, it stands out to be a vital aspect taken into consideration by the compressed air treatment equipment market players. As per estimates, overall compressed treatment equipment industry share from food and beverage application is expected to witness 6.5% CAGR over 2017-2024. In parallel to this, many companies are implementing ISO standard ISO22000:2005 to fully promote principles of HACCP system. The continuous development in food standardization is certain to influence compressed air treatment equipment industry dynamics in terms of profitability and ROI.
Compressed air treatment equipment market is one of those burgeoning business spaces where strategic collaborations quite prudently outline the sustainability quotient of the market giants. Atlas Copco, the Swedish giant, that is claimed to constitute almost one tenth of the competitive spectrum of compressed air treatment equipment market, has undertaken a plethora of acquisitions over the recent years, to expand its geographical reach and product enhancement. The latest acquisition where the Swedish conglomerate has acquired the compressor business of Glauber Equipment Corporation, has been reported to be the most fruitful deal for the organization in terms of ROI and profitability. Allegedly, through this deal, Atlas Copco got direct access to Glauber Equipment Corporation’s extensive consumer reach in compressed air treatment equipment industry. Few of the other names contending a strong portfolio in competitive hierarchy of the industry include Gardner Denver, Ingersoll-Rand, Kaeser Kompressoren, Van Air, Parker Hannifin, and Donaldson Company.
Incessant product innovations by renowned giants along with a strict regulatory groundwork is certain to bring out a positive change in compressed air treatment equipment market. In addition, rapid industrialization across major economies, especially under APAC belt is expected to complement the business growth. Primarily backed by the strong pipeline of constructional projects spanning across nations like Indonesia, China, Japan, the demand for compressed air treatment equipment market in APAC belt is expected to upsurge in the coming years, leaving a subsequent impact on the overall industry share, which is forecast to exceed USD 11 billion by the end of 2024.
Author Name : Satarupa De