BURNABY, British Columbia, Canada — With deteriorating indoor and outdoor air quality over the years, the air filters market is proliferating across the globe. According to a recently released TechSci Research report, “Global Air Filters Market Forecast & Opportunities, 2020,” the global air filters market is estimated to surpass $19 billion through 2020. During the recession, demand for air filters was hampered owing to a dip in consumer spending and industrialization. However, the market has been recovering on account of increasing disposable income coupled with rising concerns regarding air quality and related health disorders.
Air filters are categorized on the basis of application area, such as HVAC air filters, gas turbine air filters, automotive air filters, cleanroom air filters, and bag house air filters. The global air filters market has always been dominated by HVAC air filters, with continuous demand from commercial and residential sectors for new installations as well as retrofitting of existing systems. Consumer focus on ambient air quality and energy efficiency of these systems, coupled with recovered consumer spending, has been aiding the global HVAC air filters market.
“The global air filters market continues to be dominated by Asia-Pacific, owing to rapid industrialization coupled with growth in economies of this region,” said Karan Chechi, research director with TechSci Research, a research-based global management consulting firm. “Air filter manufacturers see myriad opportunities across this region due to growth of end-use industries such as semiconductors, electronics, power, cement, and the steel industry. Asia-Pacific’s market is anticipated to retain dominance in the market over the forecast period, as well, growing at a higher CAGR in comparison to other regions.”
The report, “Global Air Filters Market Forecast & Opportunities, 2020,” evaluated the future growth potential of global air filters market and provided statistics and information on market structure, industry behavior, and trends. The report includes market projections and demand forecasting, and is intended to provide cutting-edge market intelligence to help decision makers make sound investment evaluations. Additionally, it also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities available in the global air filters market.
For more information, visit www.techsciresearch.com/3333.
Publication date: 5/4/2015