Industrial Filtration Market size was valued at $24.2 billion in 2020. The global industrial filtration market size is anticipated to reach USD 48.52 Billion by 2026 on account of the rapid urbanization and the increasing need for clean energy and pure water.
The market is driven by various important factors including environmental regulations and policies enacted by the government, requirement for safe working environments in industrial facilities, rising need for equipment dependability and lifespan extension, and development of industry in developing countries.
Not only has COVID-19 affected the healthcare sector, but it has also had a major impact on the global economy as well. It has had a significant economic impact on various financial as well as industrial sectors, such as travel & tourism, manufacturing, and aviation. It is also predicted that the world economy will go into recession, with a loss of trillions of dollars. With an increasing number of countries imposing and extending lockdowns, economic activities are likely to drop further, which will, in turn, impact the global economy.
Environmental protection laws and mandates are gaining importance globally to reduce the impact of industrial emissions. These standards focus on promoting the use of non-toxic substances, modifying production processes, and implementing conservation techniques. They also promote the reuse of materials rather than putting them into the waste stream, which helps in eliminating pollution. North America and Europe are a few of the early adopters of environmental protection laws across the world. In the US, pollution control regulations are controlled by the Environmental Protection Agency (EPA). A few of the significant regulations and laws in the country include the Pollution Prevention Act, the Clean Air Act, the Clean Water Act, and the National Environmental Policy Act.
The Clean Air Act focuses on regulating air emissions from stationary and mobile sources to protect public health and regulate emissions of hazardous air pollutants. The Clean Water Act aims at regulating the discharge of pollutants into the water bodies.
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