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The air cleaner filters market size is estimated to grow at a CAGR of 6.97% between 2023 and 2028. The market size is forecast to increase by USD 9.50 billion. The growth of the market depends on several factors such as the recovery in the automotive industry and the development of next-generation engines, the growing emissions owing to increasing economic activities, and the stringent norms and regulations on emissions
The report offers extensive research analysis on the Air Cleaner Filters Market Report, with a categorization based on End-User, including HVAC, industrial, automotive, and others. It further segments the market by Distribution Channel , encompassing Offline and Online . Additionally, the report provides Geographical segmentation, covering APAC, Europe, North America, Middle East and Africa, and South America. Market size, historical data (2017-2021), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing emissions owing to increasing economic activities is the key factor driving market growth. Economic growth plays an important role in a nation's prosperity. Growth in economic activities in any country brings with it challenges such as acidic emissions and pollution. More economic activities are supported by an increase in industrial manufacturing and infrastructure development, which also result in the emissions of pollutants such as Sulfur dioxide.
Furthermore, with the growth in the global economy and population, more energy will be required to fuel the increased level of activity. The raised demand for electricity will fuel the demand for coal, resulting in higher GHG emissions. As a result, it is expected that the power generation industry will continue to drive the industrial demand for air cleaner filters, thereby boosting the growth of the market during the forecast period.
Growing concern over IAQ in buildings is the primary trend shaping market growth. The alarming pollution levels globally have not only affected the quality of air outdoors but have also adversely impacted that of indoor air. The use of more synthetic composites in construction materials has brought about a deterioration in the IAQ.
In addition, poor IAQ may lead to building-related health issues such as sick building syndrome and multiple chemical sensitivity. Furthermore, the rise in construction activities and massive resurgence in urban infrastructure in APAC will add impetus to the demand for air cleaner filters, thereby driving the growth of the market during the forecast period.
Lack of awareness about the replacement of air cleaner filters is a challenge that affects market growth. Air cleaner filters have a lifespan, and using them beyond this lifespan may result in the inefficient working of these filters, thus resulting in productivity issues. Many end-users are not aware of the lifespan of the air cleaner filters and the consequences of not replacing them. Unchanged air filters can pose a serious threat to engines and other machinery and hamper their performance.
Furthermore, industrial air cleaners require regular maintenance to work at full efficiency; however, many end-users are unaware of this and use them without proper maintenance. As a result, the efficiency of the air cleaner filter is hampered over time. Thus, the lack of awareness about the replacement of air cleaner filters may impede the growth of the market during the forecast period.
The Air Cleaner Filters market analysis research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Air Cleaner Filters Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The HVAC segment is estimated to witness significant growth during the forecast period. The HVAC industry is subdivided into commercial, residential, and industrial segments. The commercial sector contributes a significant share of the market. The decline in indoor air quality (IAQ) has resulted in the use of better air cleaner filters. Moreover, the rising construction activities in the US will further drive the demand for air cleaner filters.
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The HVAC segment was the largest segment and was valued at USD 10.96 billion in 2018. The choice of air cleaner filters depends on the application and the IAQ. Health centers and research laboratories need high-efficiency filters, and therefore, they use high-efficiency particulate air (HEPA) and ultra-low particulate air (ULPA) filters, which have an efficiency rate of 99.99%. Some of the market players are focusing on launching new variants of air cleaner filters for HVAC applications. Thus, such factors will drive the growth of the segment in the market in focus during the forecast period.
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APAC is estimated to contribute 57% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In APAC, China and India will continue their dominance in the automotive industry, especially in the two-wheel market. Air cleaner filters in the automotive industry remove airborne contaminants, ensuring clean air intake for engine performance and reduced emissions. Furthermore, some of the players operating in the market are focusing on expanding their presence through acquisitions. Hence, these are some of the factors that can influence the demand for air cleaner filters in the region during the forecast period.
The air cleaner filters market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Air Cleaner Filters Market Scope |
|
Report Coverage |
Details |
Page number |
180 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.97% |
Market Growth 2024-2028 |
USD 9.50 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.55 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 57% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
American Air Filter Co. Inc., Camfil AB, Carrier Global Corp., Cummins Inc., Daikin Industries Ltd., 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., Whirlpool Corp., and Donaldson Co. Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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