Pune, Nov. 21, 2019 (GLOBE NEWSWIRE) -- The global air filters market is projected to witness remarkable growth because of various initiatives taken by market players such as testing by researchers, high investment in research and development, company collaborations, mergers and acquisitions, product launches, others. Fortune Business Insights in their report titled, “Air Filters Market Size, Share & Industry Analysis, By Type (Cartridge Filters, Dust Collectors HEPA Filters, Baghouse Filters, and Others), By End-users (Residential, Commercial and Industrial) and Regional Forecast, 2019 - 2026,” estimates such strategies to bode well for the market in the forecast duration.
The report offers an in-depth analysis of the air filters market, primarily emphasizing factors boosting and repelling the market. The information presented in the report is extracted with the help of primary and secondary research methodologies. The report is available for sale on the company website of Fortune Business Insights.
According to the report, the air filters market is anticipated to rise from USD 5.05 Billion to USD 8.83 Billion. The forecast period is set from 2019 to 2026 and the market is likely to grow at a CAGR of 7.3%. As per current air filters market trends, the market is projected to attract the highest CAGR from the HEPA filters segment. The HEPA filters segment held a higher growth rate in the air filters market share in 2018. As per the report, the segment covered a share of 24.3% in 2018. This is attributable to the increasing demand for air filtration devices from all commercial, residential, and industrial sectors.
Browse Complete Report details with Table of Content and Figures:
Rising Awareness About Sustainable Environment to Drive Market
The demand for automotive air filters is high because of the prevalent trends in automobile production such as blockchain technology, 3D printing, electric vehicles, autonomous driving, and others. Besides this, the change in lifestyle of people has also boosted the quality of the commodities they use. Air filters for cars, air filters for homes, and air filters in AC are all the indicators of social standards of people and thus are also helping to drive the market during the forecast period. People around the world are increasingly becoming aware of the sustainable environment, which is driving the market at a rapid rate.
Another factor estimated to promote the air filters market share includes the rise in incidences of indoor air pollution. In addition, there is an increasing need to develop a healthy and sustainable environment, therefore the use of air filters is necessary. Hence governments of various organizations are imposing stringent regulations to control the emission of gases into the atmosphere. This is further anticipated to drive the air filters market. Furthermore, with rapidly improving infrastructure and development sector worldwide, the installation of air purifiers for homes and for commercial settings is further anticipated to create lucrative growth opportunities for the market in the long run.
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Rise in Infrastructure Development Activities to Help Asia Pacific Emerge as Fastest Growing Region
The global air purifier market is segmented geographically into Asia Pacific, Latin America, North America, the Middle East, and Africa, and Europe. Among these, Fortune Business Insights foresees North America to dominate the market on account of the rapidly accelerating automobile industry. In 2018, the market in North America generated a revenue of USD 1.65 Billion because of the stringent regulations taken by the American government to overcome the challenges posed by air pollution from manufacturing companies.
Moreover, the rapid rate of industrialization and urbanization in Asia Pacific is projected to help the region witness the fastest growth rate in the air filters market. Countries such as India, China, and others are witnessing rapid progress in terms of the introduction of smart technology such as smart homes, smart spaces, and others. Proper infrastructure is an integral part of the development and this is further anticipated to help the regional market gain traction in the coming years.
As per Fortune Business Insights records, there are a number of significant players in the market for air filtration. These include:
- Daikin Industries, Ltd.
- Absolent Group
- Donaldson Co.
- American Air Filter Company, Inc.
- SPX Corporation
- Be Cummins, Inc.
- Purafil, Inc.
- Freudenberg & Co. Kg.
- Camfil Group
Table of Content:
- Definition, By Segment
- Research Approach
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Air Filters Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Type (Value)
- Cartridge Filters
- Dust Collector
- HEPA Filters
- Baghouse Filters
- Others (Mist Filters, etc.)
- By End-users (Value)
- Gas Turbines
- Others (Food & Beverage, etc.)
- By Region (Value)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
- By Type (Value)
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