Overview of the global HEPA filters market
According to Technavio’s analyst, the global High-efficiency particulate air (HEPA) filters market is anticipated to grow at a steady rate and post a CAGR of more than 3% during the forecast period. The increase in natural gas power plants will drive the growth prospects for the global high-efficiency particulate air filters market until the end of 2021. It has been noted that Utica and Marcellus shale regions located in Pennsylvania, Ohio, and West Virginia witnesses a high rate of natural gas production due to the increasing production of shale gas, which, in turn, will fuel the market’s growth. Similarly, Texas has significant levels of natural-gas-fired capacity under construction and is one of the major producers of natural gas in comparison to other states. Moreover, the growing demand for gas turbines for power generation due to upgrading and capacity addition will further propel the market for HEPA filters.
The penetration of HEPA air purifier in the microelectronics industry will drive the growth prospects for the global high-efficiency particulate air filters market for the next four years. Laboratories and facilities in microelectronics industry are involved in the manufacturing of miniaturized equipment. These laboratories must be equipped with airborne molecular contamination (AMC) filters such as HEPA air filters, which will further fuel the market’s growth.
Competitive landscape and key vendors
The global HEPA filter market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. With the global players highly focusing on increasing their footprint
in the market with their huge infrastructure and research and development support, the regional or local vendors are finding it increasingly difficult to compete against them especialy in terms of reliability, technology, and pricing. To survive and sustain in this competitive market, a large number of vendors are focusing on distinguishing their product and service offerings through a clear and unique value proposition.
Key vendors in this market are -
- American Air Filter
- Camfil Power Systems
- W. L. Gore & Associates
- Troy Filters
Other prominent vendors in the market include Advanced Filtration Concepts, Ahlstrom, Koch Filter, Nederman Pneumafil, and Donaldson.
Segmentation by end-user and analysis of the HEPA filters market
- Oil and gas
- Mobility
- Power generation
The power generation end-user segment accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. Some of the major factors contributing to the growth of the market include the rising demand for global power and cleaner solutions, the ongoing power generation projects in China and India, and the economic and environmentally viable solutions offered by natural gas-fired gas turbine power plants. Also, the development of combined-cycle gas turbine (CCGT) technologies is supporting the growth of this market with decreased installation, lower initial investment, and increased efficiency.
Segmentation by geography and analysis of the HEPA filters market
- Americas
- APAC
- EMEA
In terms of geography, APAC accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. Some of the major factors that are contributing growth in the market include the increasing demand for gas turbines and the rising large- scale replacement projects that boost the demand for gas turbines in the region.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global high-efficiency particulate air (HEPA) filters market?
- What are the key market trends impacting the growth of the global high-efficiency particulate air (HEPA) filters market?
- What are the challenges to market growth?
- Who are the key vendors in the global High-efficiency particulate air (HEPA) filters market?
- What are the market opportunities and threats faced by the vendors in the global high-efficiency particulate air (HEPA) filters market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global high-efficiency particulate air (HEPA) filters market?
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