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Report
Air Filters - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029
Market Report I 2024-02-17 I 125 Pages I Mordor Intelligence
The air filters market size is estimated at USD 16.28 billion in 2024 and is expected to reach USD 22.01 billion by 2029, registering a CAGR of 2.5% during the forecast period.
Key Highlights
-Over a short span, factors like increasing numbers of automobiles, especially in developing countries, and government policies regarding pollution emission control parameters are expected to drive the market in the forecast period.
-On the other hand, the technological limitations of air filters are expected to restrain the air filter market during the forecast period.
-Nevertheless, people are improving their living standards in developing countries like China, India, etc, and shifting their mindset towards health consciousness. Supportive government policies for a fresh and dust-free environment in underdeveloped and developing countries are expected to create market opportunities for the air filter market.
-Asia-Pacific is expected to dominate the market in the forecast period owing to the use of air filters in developing countries.
Air Filters Market Trends
HEPA filters are Expected to Witness Significant Demand
- HEPA filters are high-efficiency particulate air filters. They can theoretically remove at least 99.97% of dust, pollen, mold, bacteria, and any airborne particles with a size of 0.3 microns (m). The diameter specification of 0.3 microns corresponds to the worst case, the most penetrating particle size (MPPS).
- There are various advantages to using HEPA filters. HEPA filters are the standard filtration system in medical settings, such as hospitals and clinics. This is mainly because air filters with higher efficiency remove inorganic dust suspended in the air and microscopic organisms that may cause serious harm. Some examples are airborne viruses, bacteria, dust mites, mold spores, and pollen.
- As of 2022, there were a total number of 1066.6 thousand healthcare sites across the world. As the population increases, people are concerned about a better respiratory environment and air filter adoption is expected to increase, especially in all medical sites.
- Pollution levels across the globe have increased dramatically in recent years. Hence, companies operating in the industry have focused on developing and introducing innovative products. For instance, in December 2022, the Camfil group announced the launch of its latest range of V-bank HEPA filters, which are expected to have a longer lifespan and reduced maintenance costs.
- Therefore, owing to the above points, high-efficiency particulate air (HEPA) technology is expected to dominate the market during the forecast period.
Asia-Pacific is Expected to Dominate the Market
- Asia-Pacific has been a catalyst for demand in the air filters market. In developing nations such as India, Singapore, Indonesia, and China, industrial growth is at its peak. It is expected to drive demand in the air purifier market during the forecast period.
- Indonesia is set to build more coal-fired power plants in Jakarta, which may lead to more air pollution and increase the adoption of air purifiers. For instance, in December 2022, LG Electronics Indonesia announced the launch of a series of indoor air treatment products for residential and commercial end users.
- On the other hand, in India, the market for air purifiers is mainly confined to metropolises. However, it is expected to grow during the forecast period. Additionally, with technological improvements in air filters, the market is expected to grow in the forecast period.
- For instance, in December 2022, IISc Banglore developed a germ-destroying air filter that can inactivate germs using ingredients like polyphenols and polycationic polymers commonly found in green tea. The novel antimicrobial air filters were tested at a NABL-accredited laboratory and were found to be 99.24% effective against SARS-CoV-2 (delta variant).
- Therefore, owing to the above points, the Asia-Pacific region is expected to dominate the air filter market during the forecast period.
Air Filters Industry Overview
- The air filter market is fragmented. Some of the major players in the market (in no particular order) include Cummins Inc., Daikin Industries Ltd, IQAir, MANN+HUMMEL Group, Whirlpool Corporation.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Scope of Study
1.2 Market Definition
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2028
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Increasing Number of Automobiles
4.5.1.2 The Government Policy Regarding Pollution Emission Control Parameters
4.5.2 Restraints
4.5.2.1 The Technological Limitations of Air Filters
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Cartridge Filters
5.1.2 Dust Collectors
5.1.3 HEPA Filters
5.1.4 Baghouse Filters
5.1.5 Others
5.2 End-User
5.2.1 Residential
5.2.2 Commercial
5.2.3 Industrial
5.3 Geography
5.3.1 North America
5.3.1.1 United States of America
5.3.1.2 Canada
5.3.1.3 Rest of the North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 France
5.3.2.3 Italy
5.3.2.4 Germany
5.3.2.5 Rest of the Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 South Korea
5.3.3.5 Rest of the Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of the South America
5.3.5 Middle-East & Africa
5.3.5.1 United Arab Emirates
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of the Middle-East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Cummins, Inc.
6.3.2 Daikin Industries, Ltd.
6.3.3 IQAir
6.3.4 MANN+HUMMEL Group
6.3.5 Whirlpool Corporation
6.3.6 Panasonic Corporation
6.3.7 Donaldson Company, Inc.
6.3.8 Air Filters, Inc.
6.3.9 Sharp Electronics Corporation
6.3.10 K&N Engineering, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Developing a Supportive Government Policy for a Fresh and Dust-Free Environment
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