The global Filters market size is expected to be worth around US$ 201.88 billion by 2030, according to a new report by Vision Research Reports.
The global Filters market size was valued at US$ 70.38 billion in 2020 and is anticipated to grow at a CAGR of 4.10% during forecast period 2021 to 2030.
The growing demand for filters from the automobile industry to reduce the emission levels owing to the regulations by several agencies, such as the U.S Environment Protection Agency (EPA) and Department of Energy (DOE), is expected to drive the market over the forecast period.
The market is expected to witness significant growth over the forecast period owing to the rise in product demand from the water and wastewater treatment industry. The governments across various developing countries are emphasizing the development of water treatment infrastructures to provide safe water to their citizens for various purposes, such as drinking, sanitation, and cooking.
The increasing concerns regarding clean air are also anticipated to boost the growth of the air filtration industry over the forecast period. The rise in disposable income, rapid urbanization, and health concerns have resulted in people investing significantly in air purifier systems for domestic use. This shift in consumer behavior is expected to positively impact the market growth over the forecast period.
The industry exhibits a large number of established players controlling a significant market share. Key players are focused on research and development activities for the development of new products and services in the market to enhance their service offerings, thereby attaining business growth in the market.
ICE filters led the market and accounted for more than 40.0% share of the global revenue in 2020 owing to the growth of the automobile industry. ICE filters are widely used in automobiles to improve fuel efficiency. In addition, 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 boost the segment growth.
The fluid filters segment is expected to be driven by the growing investments by the governments for the construction of water treatment plants to provide safe water for various residential, commercial, and industrial applications. In addition, the wide usage of fluid filters in a variety of applications, such as cold sterilization of beverages and pharmaceuticals, petroleum refining, and dairy processing, is expected to fuel the market growth.
Air filters are expected to exhibit the fastest growth rate of 6.1% from 2021 to 2028 owing to the growing government’s emphasis on the reduction of pollutants from vehicle emissions across the globe. In addition, the rising adoption of air purifiers in recent times is expected to fuel the demand for cabin air filters that help in removing pollen and allergens from the air in homes, offices, aircraft, and train compartments.
The usage of ICE filters is expected to rise over the coming years owing to the rising adoption of a start-stop system for automatic shutdown and restart of the internal combustion engines to reduce the idling time of engines, emissions, and fuel consumption. In addition, advancements such as electric and hybrid vehicles in the automotive industry are expected to boost the growth of the ICE filters segment.
Motor vehicles led the market and accounted for more than 47.0% share of the global revenue in 2020 owing to the increasing automotive production, primarily in countries such as China, Indonesia, South Korea, Japan, Malaysia, and Taiwan. In addition, stringent regulations on the reduction of automotive pollution levels by agencies, such as the U.S. Environmental Protection Agency and the Department of Energy, are expected to increase the usage of filters, thus driving the product demand.
The usage of filtration equipment in several consumer goods, such as water filters, air purifiers, and air conditioners, is expected to fuel the growth of the market over the coming years. In addition, the manufacturing of portable air purifiers by several companies, such as Dyson, Philips, and Molekule, is expected to drive the consumer goods segment.
The demand for filters in the industrial and manufacturing segment is expected to be driven by a well-established industrial setup in Europe and North America, coupled with the stringent regulations in these regions on the emission from these facilities. In addition, rapidly rising industrialization trends in several developing countries, such as India, South Africa, Brazil, Thailand, and Indonesia, are expected to boost the growth of the market.
Other major applications of filters include pharmaceuticals manufacturing and wine production. Microfiltration equipment are widely used in the wine industries for the removal of contaminants, such as bacteria, particulates, crystals, and yeasts, to provide stabilization and improve the quality of the wine.
Asia Pacific dominated the market and accounted for over 42.0% share of the global revenue in 2020 owing to the rapid industrialization trends, coupled with the stringent regulations by various governments to maintain the environmental quality. Increasing atmospheric pollution levels and growing environmental concerns are anticipated to promote the usage of air filtration and water filtration processes, thereby propelling growth.
The product demand in Europe is driven by the rising adoption of air filtration equipment in several industries, such as cement, chemicals, and metallurgy, to lower down their emission levels, as per the directives laid down by several agencies such as the International Plant Protection Convention (IPPC) by the European Commission. In addition, a rise in the adoption of air purifiers in several countries, such as Germany, France, Italy, and Spain, is expected to drive the regional market.
North America is expected to expand at a CAGR of 3.8% from 2021 to 2028. This is attributed to growing automobile production levels in the region owing to the presence of major manufacturers, such as Ford, General Motors, Fiat Chrysler, Kia, BMW, and Mercedes-Benz. In addition, technological advancements such as the implementation of nanotechnology in the filtration process are anticipated to boost the product demand in the region.
Airex Filter Corporation
Freudenberg Filtration Technologies SE & Co. KG
Donaldson Company, Inc.
Parker Hannifin Corporation
Clark Air Systems
Spectrum Filtration Pvt. Ltd.
Industrial & Manufacturing
Central & South America
Middle East & Africa
The Filters market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Filters market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Filters market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Filters market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Filters market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Filters capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Filters by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Filters market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Filters market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Filters market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Filters industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Filters market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Filters market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Filters market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Filters market. These factors have benefited the growth of the global market for Filters. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Filters. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Filters are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are: