Filters Industry Overview
The global filters market size is expected to reach USD 112.87 billion by 2030, registering a CAGR of 5.1% over the forecast period, according to a new report by Grand View Research, Inc. Growing demand from the automobile industry for the reduction of emission levels, owing to the regulations by several agencies, such as the U.S. Environment Protection Agency (EPA) and the Department of Energy, is expected to drive the market over the forecast period. The market is expected to witness significant growth owing to the rapid growth in the water and wastewater treatment industry. The governments across various developing countries are emphasizing the development of their water treatment infrastructures to provide safe water to their citizens for various purposes, such as drinking, sanitation, and cooking.
Filters Market Segmentation
Grand View Research has segmented the global filters market on the basis of product, application, and region:
Based on the Product Insights, the market is segmented into Fluid Filters, ICE Filters, and Air Filters.
- The air filters product segment is expected to witness the fastest CAGR from 2022 to 2030 owing to the rising focus of governments on the reduction of pollutants from vehicle emissions.
- The ICE filters product segment led the market in 2021 and accounted for the maximum revenue share of more than 42%. This high share was credited to the rapid growth in the automobile industry as ICE filters are widely used in automobiles to improve fuel efficiency. The implementation of environmental regulations, such as the Kyoto Protocol, Euro 5, and Euro 6 to control the release of harmful emissions, is expected to drive the segment further.
- The rising adoption of air purifiers in recent times is expected to fuel the demand for using cabin air filters that help in removing pollen & allergens from the air in homes, offices, aircraft, and train compartments.
Based on the Application Insights, the market is segmented into Motor Vehicle, Consumers Goods, Utilities, Industrial & Manufacturing, and Others.
- The motor vehicles segment led the market in 2021 and accounted for more than 45% of the global revenue share. The increasing automotive production, primarily in countries, such as China, Indonesia, South Korea, Japan, Malaysia, and Taiwan, supports the segment growth.
- The manufacturing of portable air purifiers by several companies, such as Dyson and Philips, is expected to drive the consumer goods segment. The demand for filters in the industrial & manufacturing segment is expected to be driven by the well-established industrial setup in Europe and North America coupled with stringent regulations in these regions regarding emission from these facilities.
- Rapid industrialization in developing countries, such as India, South Africa, Brazil, Thailand, and Indonesia, is expected to drive the market. Other major application industries include pharmaceutical manufacturing and wine production.
Filters Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile
The companies are involved in the development of new sustainable products and solutions offering improved efficiency and better value to the customers. The companies are also trying to increase their sales through acquisitions, investments, and innovation. They are expanding their production capacities to facilitate the respective markets. The market is competitive due to the presence of several major companies and is characterized by the presence of a significant consumer base across the globe with the companies operating their businesses through dedicated distribution networks.
Some prominent players in the global filters market include:
- 3M
- Airex Filter Corp.
- Koch Filter
- Freudenberg Filtration Technologies SE & Co. KG
- Donaldson Company, Inc.
- Camfil AB
- Parker Hannifin Corp.
- DENSO Corp.
- Clark Air Systems
- Spectrum Filtration Pvt. Ltd.
Order a free sample PDF of the Filters Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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