HVAC Filters Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global HVAC filters market in terms of market segmentation by material, filter type, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global HVAC filters market is anticipated to garner a CAGR of ~7% over the forecast period, i.e., 2022–2030. The market is segmented by material into fiberglass, synthetic polymer, carbon derivatives, metals, and others, out of which, the synthetic polymer segment is estimated to hold the largest share during the forecast period, on the back of easy availability of synthetic polymers, along with low maintenance required for polymers. Moreover, the raw material is cheaper, which is estimated to further encourage the growth of the segment.
The global HVAC filter market is estimated to grow on the back of increasing adoption of heating, ventilation, and air conditioning systems in residential, as well as commercial spaces. The raise in the use of HVAC systems can be attributed to the rising global temperature, changing lifestyle, and growing middle class. Moreover, the increasing awareness among people, regarding the quality of indoor air, along with rising level of air pollution, is estimated to boost the market growth. As per the data by the World Health Organization, almost 9 out of 10 individuals do not get healthy air to breath, globally. Additionally, on an average 7 million people die every year due to air pollution.
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Regionally, the global HVAC filters market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is estimated to hold the largest the market share during the forecast period owing to the high level of pollution in the region, along with increasing health awareness among the masses. Bangladesh, Pakistan, Mongolia, Afghanistan, India, Indonesia, and China are the most polluted countries in the world.
Increasing Awareness Regarding Indoor Pollution and Air Quality to boost the Market Growth
The State of Global Air stated that in 2019, 6.7 million deaths were caused by air pollution directly.
With the rise in air pollution, people are becoming more aware about the adverse effects of breathing poor quality air. This has increased the demand for HVAC filters as it filters out dust, mold spores, and other particles from air. This is estimated to boost the market growth. Moreover, many key players are focusing on creating filters that can affectively filter out COVID-19 virus, which is estimated to generate massive growth opportunities for the market in the upcoming years.
However, these filters require very high maintenance to function properly, which is expected to operate as key restraint to the growth of the market over the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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This report also provides the existing competitive scenario of some of the key players of the global HVAC filters market which includes company profiling of 3M, Spectrum Filtration Pvt. Ltd., Emirates Industrial Filters LLC, Freudenberg SE, Camfil AB, Filtration Group Corporation, Ahlstrom-Munksjö Oyj, Donaldson Company, Inc., American Air Filter Company, Inc., and Parker-Hannifin Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global HVAC filters market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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