The global industrial air filtration market size is expected to reach USD 18.0 billion by 2027, growing at a CAGR of 7.3% over the forecast period, according to a study conducted by Grand View Research, Inc. The growing demand for high-performing and energy-efficient products is expected to catapult the demand over the forecast period. Technological advancements have resulted in the manufacturing of a new filter media to meet the demand for energy-efficient products. This, in turn, has instigated the development of innovative raw materials such as small fibers and is further anticipated to provide new avenues for industry growth.
Soaring electricity consumption has led to the development of new power generation plants, which is expected to be a key factor driving the market for industrial air filtration. Furthermore, implementation of stringent government regulations in order to protect human health by limiting or eliminating airborne pollutant concentrations will further aid in catapulting the market. Enforcement of Occupational Safety and Health Act (OSHA) code is the key factor anticipated to drive the market for industrial air filtration. The OSHA standards prohibit companies from retaliating against employees for exercising their rights under the law.
Companies across the globe are turning towards sustainable alternatives and methodologies such as green manufacturing in order to improve competitive advantage and increase revenues. Similarly, governments across the globe are collaborating with numerous environmental organizations for developing standards to control harmful emissions in the region. These standards have contributed to the expansion of the market for industrial air filtration across regions.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/industrial-air-filtration-market
Further key findings from the study suggest:
· By material, platinum is expected to witness a decline in the forecast period owing to its costliness and increasing consumption of gold and diamond. However, its demand may increase in North America due to highly developed countries and rich lifestyle
· The ring product segment dominated the jewelry market in 2018 due to its increasing consumption in day-to-day routine and introduction of a variety of engagement and wedding jewelry collections by major manufacturers
· The industry is highly competitive in nature due to the presence of many key global players. The local players are expected to give stiff competition owing to their unorganized nature of sales
· As a step towards diamond transparency and consumer loyalty, Tiffany & Co. has begun sharing the provenance of its newly sourced diamonds with the customers.
Grand View Research has segmented the global jewelry market on the basis of product, material type, and region:
Jewelry Product Outlook (Revenue, USD Billion, 2015 - 2025)
· Necklace
· Ring
· Earrings
· Bracelet
· Others