Market Size of Turbine Air Filtration Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 3.27 % |
| Fastest Growing Market | South America |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Turbine Air Filtration Market Analysis
The global turbine air filtration market is expected to grow at a CAGR of 3.27%, accounting from USD 1.92 billion in 2020 to USD 2.36 billion in 2027. The market was severely impacted due to the COVID-19 since the prime consumers of the market, such as the oil & gas industry and power generation industry, also witnessed a decline in the market activities. Factors such as the adoption of natural gas-fired power plants, due to increasing focus on clean power generation, are expected to experience 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. However, The rising adoption of renewable energy, such as solar and wind energy, is likely to hinder the market growth during the study period.
- The power generation segment is expected to be the largest segment for the turbine air filter market, with gas turbine power generation has evolved to be one of the most viable and environmentally-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 dominate the market's growth, with the majority of the demand coming from countries such as China and India.
