Air Filters Market to Cross $ 20 Billion by 2021
Technological
upgradations, rapid pace of industrialization and implementation of strict
government norms to boost sales of air filters across the globe
According to TechSci Research
report, “GlobalAir Filters Market By Type, By Application, By End Use Sector, By Region, Competition
Forecast and Opportunities, 2011 - 2021”, global air filters market is projected
to surpass US$ 20 billion by 2021, on account of improving global economic
scenario, increasing industrialization and rising urbanization. Increasing
consumer awareness regarding deteriorating air quality coupled with rising
levels of air pollution and stringent government regulations pertaining to air
quality in diverse industrial applications is also fueling in global air
filters market. Over the years, rising air pollution levels due to industrial
set-ups has increased number of fatalities on account of inhalation of polluted
air. In view of this scenario, various government across the globe have taken
strict steps and implemented stringent policies against such practices, thereby
boosting sales of air filters over the last five years.
Browse 15 market data Tables and 275 Figures
spread through 324 Pages and an in-depth TOC on "Global Air Filters Market"
Major application
areas of air filters include HVAC, automotive, baghouses and gas turbines. In
2015, HVAC and automotive segments dominated the global air filters market, and
this trend is expected to continue through 2021. Global automotive production stood
at 79.9 million units in 2011 and reached 89.7 million units in 2014, while
automotive sales increased from 78.1 million units in 2011 to 87.9 million
units in 2015. Continuing growth in automotive industry is also boosting demand
for air filters, globally. Establishment of new commercial complexes, booming hospitality
sector and increasing number of healthcare and educational setups is expected
to further augment demand for HVAC air filters in the ensuing years.
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“Over the last
decade, rising disposable income has been leading to increase in consumer
spending across the globe, and this has been propelling demand for HVACs in
residential and commercial establishments, which has had a huge positive impact
on the global air filters market. Global consumer spending on goods and
services is expected to reach US$ 40 trillion by 2020, which is nearly 50%
higher compared to US$ 28 trillion in 2010. Also, changing lifestyles and
increasing awareness about air borne contaminants and diseases is expected to
drive demand for air filters in the coming years.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Global Air Filters Market By
Type, By Application, By End Use Sector, By Region, Competition Forecast and
Opportunities, 2011 - 2021” has analyzed the
prospective demand for air filters, and provides statistics and information on
market size, shares and trends. The report will suffice in providing the
intending clients with cutting-edge market intelligence and help them in taking
sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers and key challenges faced by
the industry.
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