Marine Filters Market: Overview
- 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 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.
- Cleaning and maintenance of marine filter is carried out based on filter type
- 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 its 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 by 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
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- On October 08, 2019, Boll & Kirch Filterbau GmbH held groundbreaking ceremony for its new plant II in Kerpen, Rhein-Erft district in North Rhine-Westphalia. The new plant in Kerpen is expected to house several business units, including spare parts logistics with over 17,000 different spare parts for industrial and marine filters. The plant would include two-story building with research & development department with the BOLL & KIRCH pilot plant, where test runs for test filters would be carried out and prototypes would be developed.
Asia Pacific to Hold Major Share of Global Marine Filters Market
- Based on region, the global marine filters market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominated the global marine filters market in 2018. The trend is projected to continue during the forecast period. China and India are among the principal countries for marine filters in the region.
- Expansion in the shipbuilding and maintenance industry in Asia Pacific is anticipated to boost the demand for marine filters in the region. Expansion in the coal industry and mining activities in Asia is also boosting the market in the region.
- Europe is anticipated to account for major 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 anticipated to drive the marine filters market in the region.
- The market in Latin America is projected to expand at a sluggish pace during the forecast period
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Key Players Operating in the Marine Filters Market:
Leading companies operating in the marine filters market include:
- Boll & Kirch Filterbau GmbH
- PARKER HANNIFIN CORP
- Donaldson Company, Inc.
- SeaStar Solutions
- Solé Diesel
- Triple R Europe
- WIX Filters
- Pall Corporation
Global Marine Filters Market: Research Scope
Global Marine Filters Market, by Filter 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
Global Marine Filters Market, by Vessel Type
- Cargo Carriers
- Passenger Vessels
- Other Vessels
Global Marine Filters Market, by Sales Channel
Global Marine Filters Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
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