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Air Filters Market Worth USD 22.15 Billion at 7.1% CAGR by 2028 Backed by Increasing Demand for Advanced Filtration Systems in North America

·8 min read

List of the Companies Profiled in the Market: Daikin Industries, Ltd. (Osaka, Japan), Camfil (Stockholm, Sweden), Mann+Hummel (Ludwigsburg, Germany), PARKER HANNIFIN CORP (CLEVELAND, United States), American Air Filter Company, Inc. (Kentucky, United States), Be Cummins, Inc. (Columbus, United States), Donaldson Company, Inc. (Bloomington, United States), Wetzel Technologies (Weinheim, Germany), SPX Corporation (Charlotte, United States), MayAir Group (Semenyih, Malaysia), Airventfil Pty (Ltd) (Alberton, South Africa), Absolent Group AB (publ) (Lidköping, Sweden), Lydall Gutsche GmbH & Co. Kg (Fulda, Germany), Purafil, Inc. (Doraville, United States)

Pune, India, June 15, 2021 (GLOBE NEWSWIRE) -- The global air filters market size is expected to showcase exponential growth by reaching USD 22.15 billion by 2028 while exhibiting a CAGR of 7.1% between 2021 and 2028. Fortune Business Insights in its report, titled Air Filters Market Size, Share & COVID-19 Impact Analysis, By Type (Cartridge Filters, Dust Collectors, HEPA Filters, Baghouse Filters, and Others), By End-User (Residential, Commercial and Industrial), and Regional Forecast, 2021-2028.”, mentions that the market stood at USD 12.89 billion in 2020. Factors such as the rising automotive sector and the growing demand for Heating, Ventilation, and Air-Conditioning (HVAC) systems globally will boost the adoption of the product. This presents a lucrative opportunity for the adoption of advanced filtration systems during the forecast period.

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Market to Exhibit 6.6% Growth Rate; High Demand for Advanced Air Filtration Systems amid COVID-19

According to the Japan Electrical Manufacturers Association, in 2020, domestic home appliances shipments hit their all-time highest level in 24 years. This is owing to the robust demand for advanced air filtration systems. Similarly, the demand for air filtration systems in the wake of the widespread effects of the novel coronavirus is expected to positively affect the growth of the market. The market exhibited a growth rate of 6.6% in 2020.

Market Segmentation:

On the basis of type, the market is segmented into cartridge filters, dust collectors, HEPA filters, baghouse filters, and others.

  • Based on type, the HEPA filters segment held a global air filters market share of about 24.8% in 2020. The segment is likely to dominate backed by the greater efficiency of these filters to remove airborne particles and keep the air pure. This has further led to high demand from several industrial applications such as commercial & residential buildings, healthcare, and healthcare.

Based on the end-user, the market is segregated into residential, commercial, and industrial. Lastly, on the basis of region, the market is divided into North America, Latin America, Europe, Asia –Pacific, and the Middle East and Africa.

What does the Report Include?

The global market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth during the forecast period.

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DRIVING FACTORS

Growing Demand from Automotive Sector to Augment Growth

According to the data by the International Energy Agency (IEA), in 2020, the U.S. auto industry witnessed sales of around 3.4 million cars. The rising auto sector after a brief lull due to the global pandemic COVID-19 is proving to be a positive factor for the adoption of the product. Air filtration system plays a pivotal role in automobiles. These systems help to clean the internal combustion engines and prevent the entry of harmful particles. They further help in improving the operation of life of several engine components. Owing to such beneficial factors, they are extensively equipped in vehicles. Therefore, the rising automotive sector is expected to favor the global air filters market growth in the forthcoming years.

REGIONAL INSIGHTS

North America – The region stood at USD 4.34 billion in 2020 and is expected to hold the highest position in the market during the forecast period. This is attributable to the increasing demand for advanced air filters to control pollution emitted by several manufacturing industries in the region.

Asia-Pacific – The market in the region is expected to experience considerable growth backed by the supportive government initiatives that propels the adoption of the product between 2021 and 2028. For instance, in January 2018, China introduced the biggest air purifier that garnered positive feedback from the adjacent commercial and residential sectors.

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COMPETITIVE LANDSCAPE

Prominent Companies Focus on Partnerships to Brighten Their Market Prospects

The market is experiencing healthy competition among key players that are focusing on partnering with other companies to expand their air filters portfolio and further boost sales revenues. Additionally, the other major companies are striving to maintain their presence by adopting strategies such as merger and acquisition, facility expansion, and collaboration that will bode well for the growth of the market in the forthcoming years.

Industry Development:

  • October 2020 – CTT SYSTEM AB signed a Memorandum of Understanding (MOU) with Camfil. As per the MOU, CTT will utilize Camfil’s air filtration system for the aircraft and aviation industry to improve air quality in the cabin.

List of the Companies Profiled in the Market:

  • Daikin Industries, Ltd. (Osaka, Japan)

  • Camfil (Stockholm, Sweden)

  • Mann+Hummel (Ludwigsburg, Germany)

  • PARKER HANNIFIN CORP (CLEVELAND, United States)

  • American Air Filter Company, Inc. (Kentucky, United States)

  • Be Cummins, Inc. (Columbus, United States)

  • Donaldson Company, Inc. (Bloomington, United States)

  • Wetzel Technologies (Weinheim, Germany)

  • SPX Corporation (Charlotte, United States)

  • MayAir Group (Semenyih, Malaysia)

  • Airventfil Pty (Ltd) (Alberton, South Africa)

  • Absolent Group AB (publ) (Lidköping, Sweden)

  • Lydall Gutsche GmbH & Co. Kg (Fulda, Germany)

  • Purafil, Inc. (Doraville, United States)

  • Freudenberg Filtration Technologies SE & Co. KG (Weinheim, Germany)

  • V&T Group BV (Numansdorp, Nederland)

  • HEPA Corporation (Anaheim, United States)

  • DuPont (Wilmington, United States)

  • Fildex Filters Canada (Vancouver, Canada)

  • Excellect Filter Factory (Riyadh, Saudi Arabia)

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Table of Content:

  • Introduction

    • Definition, By Segment

    • Research Methodology/Approach

    • Data Sources

  • Executive Summary

  • Market Dynamics

    • Macro and Micro Economic Indicators

    • Drivers, Restraints, Opportunities and Trends

    • Impact of COVID-19 on Air Filters Market

      • Short-term Impact

      • Long-term Impact

  • Competition Landscape

    • Business Strategies Adopted by Key Players

    • Consolidated SWOT Analysis of Key Players

    • Porter’s Five Forces Analysis

    • Global Air Filters Market Share Analysis and Matrix, 2020

  • Key Market Insights

  • Profiles of Key Players (Would be provided for 10 players only)

6.1. Overview

      • Key Management

      • Headquarters etc.

    • Offerings/Business Segments

    • Key Details (Key details are subjected to data availability in public domain and/or on paid databases)

      • Employee Size

      • Past and Current Revenue

      • Geographical Share

      • Business Segment Share

    • Recent Developments

  • Primary Interview Responses

  • Annexure / Appendix

    • Global Air Filters Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028

      • By Type (Value)

        • Cartridge Filters

        • Dust Collector

        • HEPA Filters

        • Baghouse Filters

        • Others (Mist Filters, and others.)

      • By End-Users (Value)

        • Residential

        • Commercial

        • Industrial

          • Automotive

          • Chemical

          • Gas Turbines

          • Semiconductors

          • Pharmaceuticals

          • Healthcare

          • Others (Food & Beverage, and others.)

      • By Geography (Value)

        • North America

        • Europe

        • Asia Pacific

        • Middle East and Africa

        • Latin America

TOC Continued.

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