MayAir Secures Air Filtration Products Contract with BOE Technology
China: The industrial division of
MayAir Group, the leading manufacturer of air filtration equipment and cleaning
air technology, has received a contract from China’s BEO Technology for supplying
fan filtration units and cleaning equipments. The overall value of the contract
was around USD7.1 million and the project is expected to complete by the end of
2016. The company has also secured another contract worth USD10.6 million majorities
of whose revenues is anticipated to be a part of FY2017. In the past two
months, the company has secured contracts worth USD33.4 million in the
industrial and commercial division with further addition of the contract
secured from China’s BOE Technology.
TechSci Research depicts that
the contract secured by MayAir’s industrial division would further contribute
to the growth in the revenues of the company which would thus enable it to
accomplish its targets. The new project will provide MayAir a strong platform
for growth in the coming years. This would further help the company to cater
with their air cleaning solutions globally and thus proliferate the sales of
the filtration products in the country and globally.
According to the recent
report published by TechSci Research,
“Global Air Filters Market Forecast and Opportunities, 2020”, global market for air filters
is projected to surpass USD19 billion through 2020. HVAC, automotive and bag
house air filters are the dominant segments in the market, followed by
cleanroom air filters and gas turbine air filters. Although air filters
penetration remained highest across Americas during the initial years of their development,
over the last few years, Asia-Pacific has emerged as the most prominent market
for air filters across the globe.