Product Code: 54919
The global turbine air filtration market is expected to grow at a CAGR of more than 7.3% over the period of 2020-2025. Factors such as the adoption of natural gas-fired power plants, due to increasing focus on clean power generation, are expected to experience a 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. Moreover, rising number of petroleum refineries in the across the world is promulgating the demand for air filters. However, the high installation and maintenance cost associated with turbine air filter in energy intensive industries is expected to hinder the growth of the market studied.
- Power generation segment is expected to be the largest segment for turbine air filter market, with gas turbine power generation having evolved to be one of the most viable and environmental-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 register the highest growth rate for the turbine air filtration systems market, with majority of the demand coming from the countries such as India, and China.
Key Market Trends
Power Generation Segment to Dominate the Market
- Owing to its clean nature, natural gas is quickly becoming very popular fuel for electricity. Natural gas-fired electricity is expected to account for 80% of all further electricity generation capacity, by 2035.
- Furthermore, some of the factors driving the demand for gas turbine are - multiple fuel capabilities (renewable and synthesis fuels, short construction lead time, and modular construction), low power generation operational cost, low installed cost, reduced emissions, and very high efficiency. Hence, the booming gas turbine industry is expected to boost the demand for the air filtration systems during the forecast period.
- In 2017, the gas-fired power generation in the European Union grew by over 10%, due to low gas prices and slow growth in renewable power generation. In China, the gas-fired power generation grew by over 17%, while in India, the growth was about 13.3%. The growth was the result of the healthy demand for electricity in the Asian countries and a shift from coal-fired to gas-fired power generation due to concerns regarding air pollution. Hence, with increased gas-fired power generation, turbine air filter market is expected to be driven.
- Moreover, the investments in the gas-fired power generation also grew significantly in 2018 (almost 40%) compared to that in 2016, led by the United States and the Middle East region. Therefore, with increasing demand for air filters from natural gas fired power plants is a major factor driving the turbine filters demand, worldwide.
Asia-Pacific to Dominate the Market
- The factors driving the market in Asia-Pacific are - rapid industrialization and urbanization, rising demand for power from a large population, and low labor wages, resulting in a growing manufacturing sector. Additionally, the rapidly increasing construction activities in the region have contributed to a considerable increase in pollution levels.
- To act on these, the governments of China, India, and other developing economies have been preferring low-polluting gas-based stations and these moves are expected to boost the demand for the Asia-Pacific turbine air filtration systems market.
- In China, the gas-fired power generation grew by over 17%, while in India, the growth was about 13.3%. The growth was the result of the healthy demand for electricity in the Asian countries and a shift from coal-fired to gas-fired power generation due to concerns regarding air pollution.
- Asian countries, such as India, are also expected to aggressively bid for the expansion of their refining capacity, in order to meet their growing energy needs. The Indian government plans to expand its domestic refining capacity by 77% to 439 million metric ton (equivalent to about 8.8 million barrels per day) (bpd) by 2030. Hence, more investments in the refining sector is expected to propel the deployment of turbines and its air filters in the coming years.
The turbine air filtration market is moderately fragmented. Some of the key players are Capstone Turbine Co., Camfil AB, American Air Filter Company Inc., Donaldson Company Inc., and Nordic Air Filtration A/S.
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Table of Contents
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD billion, till 2025
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
- 4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
- 4.7 Porter's Five Forces Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitutes Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Application
- 5.1.1 Power Generation
- 5.1.2 Oil and Gas
- 5.1.3 Others
- 5.2 Face Velocity
- 5.2.1 Low Velocity
- 5.2.2 Medium Velocity
- 5.2.3 High Velocity
- 5.3 Geography
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Asia-Pacific
- 5.3.4 South America
- 5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
- 6.3 Company Profiles
- 6.3.1 American Air Filter Company Inc.
- 6.3.2 Camfil AB
- 6.3.3 Capstone Turbine Corporation
- 6.3.4 Clarcor Inc.
- 6.3.5 Donaldson Company Inc.
- 6.3.6 FlaktGroup Holding GmbH
- 6.3.7 Koch Filter Corporation
- 6.3.8 Mueller Environmental Designs Inc.
- 6.3.9 Nordic Air Filtration A/S
- 6.3.10 Shinwa Co Ltd
- 6.3.11 W. L. Gore & Associates Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS