Marine Filters Market

Global Marine Filters Market: Introduction

• Marine filters are specially designed to remove impurities from water, air, and oil in marine vessels or ships. Demand for marine filters is increasing at a rapid pace due to the rise in investments in the shipping industry.
• Marine filters are primarily fixed in pairs as a duplex system; one filter is operational, while the other is kept as a backup if the primary filter fails. Marine filters can be used in low pressure and high pressure discharge systems of marine vessels.
• Absence of marine filters or presence of damaged marine filters can adversely affect the fuel or lube oil system, machinery parts, pistons, bearings, rings, linear, etc. This may result in their inefficient working. Hence, marine filters play a key role in the overall operation of the shipping industry.  

Key Drivers of Global Marine Filters Market

• Rise in global seaborne trade due to expansion in the world economy is anticipated to fuel the global marine filters market. Around 85% to 90% global trade is carried out via sea. This is boosting the demand for containerized ships and shipping vessels. Increase in demand for marine shipping vessels is likely to offer lucrative opportunities to the marine filters market.
• Rise in exploration and new discovery of oil & gas deposits in deep and ultra-deep water is also estimated to propel the marine filters market in the next few years

Global Marine Filters Market: Segmentation

• The global marine filters market can be segmented in terms of type and vessel type
• In terms of type, the global marine filters market can be divided into air filters, water filters, hydraulic filters, and others. Water filter and air filters segments are expected to expand significantly in the near future, as demand for these filters is high among end-users. 
• Based on vessel type, the global marine filters market can be segregated into cargo carriers, passenger vessels, ships/cruises, and others. Passenger vessels and ships/cruises were lucrative segments in 2020. These segments are projected to remain lucrative during the forecast period.    

Global Marine Filters Market: Regional Outlook

• Based on region, the global marine filters market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
• Asia Pacific dominated the global marine filters market in 2020. The trend is projected to continue during the forecast period. China and India are among the major countries of the marine filters market in the region. Expansion of the shipbuilding and maintenance industry in Asia Pacific is anticipated to boost the demand for marine filters in the region. Growth of the coal industry and increase in mining activities in Asia are also likely to propel the market in the region.
• Europe is anticipated to account for key share of the global marine filters market during the forecast period owing to the increase in maritime trade in the region
• The market in North America is estimated to expand at a rapid pace owing to the ongoing offshore exploration activities and growth of the oil & gas industry in the region
• Middle East & Africa has significant oil reserves, both onshore and offshore. Offshore discoveries and development by countries such as Qatar, the UAE, and Saudi Arabia are expected to drive the marine filters market in the region.
• The market in Latin America is anticipated to expand at a sluggish pace during the forecast period

COVID-19 Impact on the Global Marine Filters Market

• The coronavirus outbreak has paralyzed sea tourism and transportation industries. According to the United Nations World Tourism Organization, global international tourist arrivals declined by more than 60% in 2020 compared to that in 2019. The international broader restrictions has led to a decrease in sea trade. Thus, the COVID-19 pandemic is negatively impacting the global marine vessel industry, thereby hampering the marine filters market.

Key Players Operating in Global Market

• Boll & Kirch Filterbau GmbH
• PARKER HANNIFIN CORP
• Donaldson Company, Inc.
• SeaStar Solutions
• Solé Diesel
• Triple R Europe
• Forespar
• WIX Filters
• Pall Corporation

Global Marine Filters Market: Research Scope

Global Marine Filters Market, by Type

• Air Filters
  • Control Air Filters
  • Turbocharger Filters
  • Compressor Filters
• Water Filters
  • Fire Line Suction Filters
  • Fresh Water System Filters
  • Bilge Line Filters
• Hydraulic Filters
  • Magnetic Filters
  • Fuel  Filters
  • Centrifugal Filters
  • Lube Filters
• Others

Global Marine Filters Market, by Vessel Type

• Cargo Carriers
• Passenger Vessels
• Ships/Cruises
• Others

Global Marine Filters Market, by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia & CIS
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa