Market Research Future (MRFR) has published a cooked research report on the “Air Filters Market” that contains information from 2023 to 2032. The Market is estimated to register a CAGR of 7.50% during the forecast period of 2023 to 2032 and projected to grow at USD 29.1 billion by 2032
MRFR recognizes the following companies as the key players in the Market - Daikin Industries, Ltd. (Japan), Camfil (Sweden), MANN+HUMMEL (Germany), Parker Hannifin Corp (U.S.), Cummins, Inc. (U.S.), Donaldson Company, Inc. (U.S.), SPX Flow, Inc. (U.S.)
Global Air Filters Market Overview
The air filters market has shown significant growth and is projected to continue expanding in the coming years. The air filters market was valued at USD 15.2 Billion in 2022. The market size is expected to experience continuous growth in the forecast period, with a projected value of USD 16.3 Billion in 2023, increasing to USD 29.1 Billion by 2032 and exhibit a compound annual growth rate (CAGR) of 7.50% during the forecast period (2023-2032).
A device known as an air filter is used to filter out solid airborne particles that could be hazardous to human health if inhaled. Particles can be anything from powder to dust to fibers to illnesses to pollen, among other things. It uses physical and/or chemical processes with materials such fiber pleated paper, foam, ionizers, cotton, absorbents, activated charcoal, chemicals, catalysts, and other items to clean the air to a level that is suitable for breathing and to remove odors for the intended user.
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Air Filters Market Segmentation
Air Filters Type Outlook
· Cartridge Filters
· Dust Collector
· HEPA Filters
· Baghouse Filters
· Others (Mist Filters and others)
Air Filters End-User Outlook
· Residential
· Commercial
· Industrial
Air Filters Regional Outlook
· North America
· Europe
· Asia-Pacific
· Rest of the World
Market Drivers
Rising airborne illnesses and increasing levels of urban pollution are expected to spur industry expansion. For instance, ozone concentrations exceeding the European Union's threshold were present in urban areas where 14% of the population of the EU-28 resided. According to the EEA's report on Air Quality in Europe published in 2020, over 4% of the urban population of the EU-28 was exposed to high amounts of nitrogen dioxide, and 15% of the population was exposed to benzopyrene.
The industry will be influenced by the improving standards of living, increased disposable income, and rising health consciousness. The market is anticipated to gain from the rising air pollution and increased prevalence of airborne diseases in the United States over the course of the forecast period. More than 40% of Americans (or over 137 million people) live in areas with failing ratings for dangerous levels of particle pollution or ozone, according to the State of the Air 2022 assessment, despite decades of progress in cleaning up air pollution sources. This is equivalent to 2.1 million more people than the previous year breathing toxic air. This element will raise public awareness of the poor quality of the air and enhance the demand for air purifiers.
The implementation of rigid guidelines and regulations for indoor air quality by different governments, which concentrate on reducing air pollution, is projected to spur business growth. The rise of the business will also be boosted by a number of initiatives to reduce air pollution that have been initiated by governments and NGOs around the world. For example, the U.S. Environmental Protection Agency (EPA)'s "Guide to Air Cleaners in the Home" provides guidance on selecting a furnace filter, HVAC filter, and portable air cleaner in addition to other information on air cleaners. The WHO has also made some guidelines about the caliber of indoor air.
Key Companies in the Air filters market include
· Daikin Industries, Ltd. (Japan)
· Camfil (Sweden)
· MANN+HUMMEL (Germany)
· Parker Hannifin Corp (U.S.)
· Cummins, Inc. (U.S.)
· Donaldson Company, Inc. (U.S.)
· SPX Flow, Inc. (U.S.)
· Absolent Group AB (publ) (Sweden)
· Lydall Gutsche GmbH Co. Kg (Germany)
· Purafil, Inc. (U.S.)
· Freudenberg Filtration Technologies SE Co. KG (Germany)
Restraints
The need for filtration equipment rises in tandem with the public's awareness of indoor air quality (IAQ) or fresh IAQ. The high maintenance costs of these filters are one of the main issues preventing industry growth, though. Filters typically cost between $40 and $60 to replace because they need to be regularly changed and serviced every six to four months. In addition, a lot of industrial and commercial end users spend money on subpar filtering equipment that impairs the working conditions for HVAC applications.
Regional Insights
The biggest market share (45.80%) has belonged to Asia Pacific since 2022. It is anticipated that more individuals in the area would utilize air filtration and water filtration technologies as environmental concerns and levels of atmospheric pollution increase, expanding the market. The market growth rate will continue to increase steadily throughout the course of the study because of the region's quick industrialization as well as strict local environmental protection laws.
Air Filters Industry Developments:
January 2022:
AVVIR, the innovation arm of The A.L. Group, a leading provider of cutting-edge filtration technologies, made a significant announcement regarding their latest product called IN-EX. IN-EX is a medical-grade solution designed to ensure clean indoor air. It offers a unique approach to air filtration by utilizing specialized sonochemical coating technology. With this innovation, any air filter can be transformed into a highly effective tool for eradicating bacteria and viruses. The advanced technology used in IN-EX enhances the filtration process and provides improved protection against airborne contaminants, contributing to healthier indoor environments.
June 2021:
Nanomatrix Materials introduced a revolutionary product in the air filters industry known as G1 AC Filters for Air Conditioners. These filters are made using graphene-silver nanotechnology, which results in outstanding air purification capabilities. The G1 AC Filters have demonstrated the ability to sterilize 99.9% of airborne germs, ensuring a healthier indoor air environment. Additionally, these filters efficiently filter out dust particles, improving overall air quality. Another essential feature of G1 AC Filters is their capacity to reduce harmful volatile organic compounds (VOCs) or gases, contributing to a safer and cleaner indoor atmosphere.
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