Global HVAC Filters Market Forecast:
The HVAC filters market size was valued at USD 3.58 billion in 2021 and is likely to grow at a CAGR of 5.03% during 2022-2028 to reach USD 5.05 billion in 2028.
What is an HVAC filter?
HVAC filters are types of air filters used to keep the indoor system parts from being clogged with dust and other foreign materials. They are used to improve indoor air quality along with that they serve the purpose of extending the life of HVAC systems.
HVAC filters play a crucial role in maintaining air quality in commercial and residential buildings. Primary materials used in the manufacturing of HVAC systems are synthetic polymers, fiberglass, carbon, and metals. On the basis of technology type, HVAC filters can be categorized into electrostatic precipitators, HEPA, activated carbon, and others. HVAC filters find application in industries, such as building & construction, pharmaceutical, food & beverage, automotive, and others.
The prime factors that are driving the market are-
- Increasing demand for HVAC systems,
- Stringent government regulations for efficient filtration,
- Growing awareness about indoor air quality, expanding the construction sector, and technological advancements in HVAC filters.
The following are some of the key players in the HVAC Filters Market:
- Camfil Group
- MANN+HUMMEL Group
- Donaldson Company Inc.
- Filtration Group Corporation
- Koch Filter
- The 3M Company
- Parker-Hannifin Corporation
- Ahlstrom-Munksjö Oyj
- American Air Filter Company, Inc.
- Freudenberg Group
HVAC Filters Market Segmentation:
The report segments based on demographics, geographics, benefits, volume, etc, have different driving factors and identify the most attractive segments and sub-segments. HVAC Filters and other resources also allow companies to learn about their target audience so that they can tailor campaigns and increase market share and revenue.
Based on the material type, the market is segmented as fiberglass, synthetic polymer, carbon, and metal. The synthetic polymer material type held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. Synthetic polymers (such as PTFE, PE, PP, and Polyester) are used in the form of stretched films which increase the surface area, leading to more efficient capturing of airborne particles in HVAC systems. This is the major factor driving the demand for synthetic polymers in the market.
Based on the end-use industry type, the market is segmented as building & construction, pharmaceutical, food & beverage, automotive, and others. The building & construction segment is estimated to account for the largest share of the market during the forecast period. The segment’s growth is driven by residential and commercial buildings, which majorly use HVAC systems for thermal comfort and superior indoor air quality. In addition, the growth is primarily attributed to the mounting demand for green buildings and awareness about indoor air quality as HVAC filters help in enhancing indoor air quality.
Based on the technology type, the market is segmented as electrostatic precipitators, HEPA, activated carbon, and others. The HEPA segment holds the largest share of the market and is also expected to witness healthy growth during the forecast period. Strong demand from industries such as buildings & construction, pharmaceuticals, food & beverages, and electrical & electronics, owing to its capability to trap 99.97% of dust particles that are 0.3 microns or larger in size, are the major factors behind its dominance in the market.
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities. The growth of the market is majorly driven by significant economic development in the regions, the rapidly expanding construction industry, rising global warming, and growing awareness among consumers. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
For inquiries, Contact:
About Stratview Research
Stratview Research is a global market intelligence firm helping its clients’ tract the ever-evolving market scenarios through customised and syndicated reports. The reports offered here are gathered with the help of our wide-ranging and reliable secondary sources and in-depth interviews with the linchpins within the market. Extrapolated through primary and secondary research, Stratview Research’s reports help you remain ahead of the curve by enabling you to understand the current market trends and challenges coming on your way. Our strong team of industry veterans and researchers assure high quality research and strategic insights that help companies worldwide in effective decision making.