Global Air Filters Market to Surpass USD19 Billion by 2020
Deteriorating indoor air quality, technological developments and stringent norms to drive global air filters market through 2020
With deteriorating indoor and outdoor air quality over the years, air filters market is proliferating across the globe. Air filters are multi-layered devices required for filtration of impurities from the air. Air filters are usually made of polyester films, cotton, woven or knitted fabrics, paper, synthetic or organic material, and are designed to meet specific industry standards with respect to air contaminants. They are required for applicationin heating, ventilation and air conditioning systems, locomotive air filtration for cabin and engine air intake, gas turbine air filtration, cleanroom filtration, and industrial air filtration.
According to a recently released TechSci Research report, “Global Air Filters Market Forecast and Opportunities, 2020”, global air filters market is estimated to surpass USD19 billion through 2020. During recession, demand for air filters was hampered owing to dip in consumer spending and industrialization. However, the market has been recovering on account of increasing disposable income coupled with rising concern regarding air quality and related health disorders.
Air filters are categorised on the basis of application area as HVAC air filters, gas turbine air filters, automotive air filters, clean room air filters and bag house air filters. Global air filters market has always been dominated by HVAC air filters segment, with continuous demand from commercial and residential sectors for new installations as well as retrofitting of existing systems. Consumer focus on ambient air quality and energy efficiency of these systems coupled with recovered consumer spending has been aiding global HVAC air filters market.
“Global air filters market continues to be dominated by Asia-Pacific owing to rapid industrialization coupled with growth in economies of this region. Air filter manufacturers see myriad opportunities across this region due to growth of end use industries such as semiconductors, electronics, power, cement and steel industry. Asia-Pacific market is anticipated to retain dominance in the market over the forecast period as well, growing at a higher CAGR in comparison to other regions.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Air Filters Market Forecast and Opportunities, 2020” has evaluated the future growth potential of global air filters market and provides statistics and information on market structure, industry behavior and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in global air filters market.