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.