World News: 14:00 GMT Thursday 6th December 2018. [Technavio Research via Businesswire via SPi World News]
Technavio analysts forecast the global air pollution control market to grow at a CAGR of over 5% during the forecast period, according to their latest market research report.
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Technavio has released a new market research report on the global air pollution control market for the period 2019-2023. (Graphic: Business Wire)
The development of high-efficiency filters is one of the major trends being witnessed in the global air pollution control market 2019-2023. The selection of appropriate filters coupled with the system parameters is critical for efficient operations of an air pollution control system. Extended filtration cycles and cleaning intervals of the filter elements have a significant impact on the operator’s decision. For instance, Freudenberg Filtration Technologies offer filter products to achieve a long service life and save additional space and money based on a particular application. Therefore, the development of such advanced and efficient filters has been boosting the performance of the air pollution control systems. This is likely to propel the growth of the global air pollution control market.
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According to Technavio analysts, one of the key factors contributing to the growth of the global air pollution control market is the growing industrial development.
Global air pollution control market: Growing industrial development
The most common air pollutants released from industries are GHGs owing to the burning of fossil fuels. Factory emissions contribute significantly to the release of CO2, which is the most damaging GHG. Another harmful GHG is SO2 that results in the formation of acid rain. Likewise, the growing industrial development is creating a dangerous situation for the environment. Therefore, several authorities are introducing stringent emission control regulations, which is, in turn, fueling the growth of the air pollution control market.
According to a senior analyst at Technavio for research on water and waste management, “Apart from the growing industrial development, factors such as the increase in electricity demand, and the growing adoption of IoT in air pollution control will drive the growth of the global air pollution control market.”
Global air pollution control market: Segmentation analysis
The global air pollution control market research report provides market segmentation by end-user (power and industries), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The APAC held the largest share of the market in 2018, accounting for over 52% share, followed by the Americas and EMEA respectively. The APAC region is expected to continue to dominate the market during the forecast period with the highest incremental growth owing to the stringent government regulations to promote air pollution control.
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Business Wire: 14:00 GMT Thursday 6th December 2018
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