(MENAFN- PR Newswire)
NEW YORK, June 10, 2024 /PRNewswire/ -- The global air filter market size is estimated to grow by USD 7.47 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over
6.21%
during the forecast period.
increasing number of data centers
is driving market growth,
with a trend towards
rise in spending on green construction. However,
lack of awareness about need to replace air filters
poses a challenge. Key market players include American Air Filter Co. Inc., Camfil AB, Carrier Global Corp., Cummins Inc., Daikin Industries Ltd., Donaldson Co. Inc., Dyson Group Co., Filtration Group Corp., Honeywell International Inc., IQAir AG, Koninklijke Philips N.V., LG Electronics Inc., MANN HUMMEL International GmbH and Co. KG, Panasonic Holdings Corp., Parker Hannifin Corp., Samsung Electronics Co. Ltd., Sharp Corp., Unilever PLC, United Filter Industries Pvt. Ltd., and Whirlpool Corp..
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Technavio has announced its latest market research report titled Global air filter market 2024-2028
Get a detailed analysis on regions, market segments, customer landscape, and companies-
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| Air Filter Market Scope |
| Report Coverage |
Details |
| Base year |
2023 |
| Historic period |
2018 - 2022 |
| Forecast period |
2024-2028 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 6.21% |
| Market growth 2024-2028 |
USD 7476.4 million |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
5.75 |
| Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
| Performing market contribution |
APAC at 53% |
| Key countries |
China, US, Japan, Germany, and India |
| Key companies profiled |
American Air Filter Co. Inc., Camfil AB, Carrier Global Corp., Cummins Inc., Daikin Industries Ltd., Donaldson Co. Inc., Dyson Group Co., Filtration Group Corp., Honeywell International Inc., IQAir AG, Koninklijke Philips N.V., LG Electronics Inc., MANN HUMMEL International GmbH and Co. KG, Panasonic Holdings Corp., Parker Hannifin Corp., Samsung Electronics Co. Ltd., Sharp Corp., Unilever PLC, United Filter Industries Pvt. Ltd., and Whirlpool Corp. |
Market Driver
The construction industry's shift towards energy efficiency is driving the global air filter market. Companies are investing in green systems to decrease environmental impact, increase efficiency, and save on energy costs. LEED certification and Energy Star designation are incentives for this investment.
Air filters, which help maintain high indoor air quality and reduce carbon emissions, are a crucial component of green buildings. By protecting HVAC equipment and minimizing energy consumption, efficient air filters contribute to both sustainability and meeting green building rating system criteria.
The Air Filter market is experiencing significant growth due to increasing awareness about indoor air quality. Filters for heating, ventilation, and air conditioning systems are in high demand. Companies focus on developing efficient and cost-effective filters to cater to this trend. Filters for residential and commercial applications are popular. Bacterial and viral filters, as well as particulate filters, are gaining traction.
Capacity and filtration efficiency are key considerations for buyers. The market is competitive with players offering various types of filters such as electrostatic, HEPA, and activated carbon filters. The future looks promising for the Air Filter market with continuous innovation and technological advancements.
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Market
Challenges
Air filters are essential components in various systems, including vehicles and HVAC systems. Their replacement or cleaning schedule varies from every three months to yearly or based on mileage. Unfortunately, many end-users lack awareness about this requirement, leading to potential health risks and reduced market demand.
Commercial buildings, particularly those in the healthcare, oil and gas, electronics, and marine sectors, must prioritize regular air filter replacement due to stricter air quality regulations. The aftermarket sales segment is a significant growth driver for the air filter industry, making it crucial to address the awareness gap.
The air filter market faces several challenges in the industry. Regarding materials, finding cost-effective and efficient filters that can capture fine particles and harmful gases is crucial. Consumption patterns also pose a challenge, as the demand for air filters varies based on seasons and regions.
Additionally, the regulatory landscape is constantly evolving, requiring companies to comply with new standards and certifications. Lastly, the increasing use of renewable energy sources and electric vehicles contributes to the need for advanced filtration technologies to manage the emissions. Overall, addressing these challenges will be key to the growth and success of the air filter market.
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Segment Overview
End-user
1.1 Commercial
1.2 Industrial
1.3 Residential
Type
2.1 Dust collectors
2.2 HEPA filters
2.3 Cartridge filters
2.4 Others
Geography
3.1 APAC
3.2 North America
3.3 Europe
3.4 Middle East and Africa
3.5 South America
1.1
Commercial-
The Air Filter Market is experiencing steady growth due to increasing awareness of indoor air quality. Businesses and consumers alike are recognizing the importance of clean air for health and productivity. Air filters are essential for industries such as manufacturing and healthcare, where air quality can significantly impact operations. Additionally, the residential sector is a significant market, with homeowners seeking to improve their indoor environments. Overall, the Air Filter Market is poised for continued expansion as more people prioritize clean air solutions.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) - Download a Sample Report
Research Analysis
The Air Filter Market encompasses various filtration systems designed to improve air quality in both industrial and residential applications. These systems are integral components of HVAC systems, which include air moving devices such as fan coils, air handlers, and terminal units. In industrial settings, dust collectors type air filtration systems are commonly used to minimize the presence of tiny particles and prevent harm to workers.
In urban areas, where health consciousness and standard of living are paramount, air filtration systems are increasingly being adopted to mitigate airborne infections and respiratory illnesses caused by harmful particles and air pollution. Stricter regulations are being implemented to ensure better indoor air quality and reduce premature deaths associated with poor air quality. Air filtration systems play a crucial role in maintaining optimal air quality, particularly in passenger cars and industrial end-users, where the risk of exposure to harmful particles is high.
Market Research Overview
The Air Filter Market encompasses the production, sales, and installation of various types of air filters used in residential, commercial, and industrial applications. These filters help in removing pollutants, allergens, and other contaminants from the air, ensuring better indoor air quality. The market is driven by increasing awareness of health issues related to air pollution and the implementation of stringent regulations.
The market also witnesses significant growth due to the rising demand for energy-efficient and high-performance air filters. The market comprises different types of filters, including HEPA, activated carbon, electrostatic, and others. The market is expected to grow at a steady pace in the coming years due to the increasing demand for cleaner and healthier indoor environments.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
End-user
Commercial
Industrial
Residential
Type
Dust Collectors
HEPA Filters
Cartridge Filters
Others
Geography
APAC
North America
Europe
Middle East And Africa
South America
7
Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:
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SOURCE Technavio
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