HEPA Filters Market to Reach $2.7 Billion in 2016
The filters are capable of delivering 99.97 percent efficiency in removing fine particles
BURNABY, British Columbia — The global high-efficiency particulate arrestance (HEPA) filters market is forecast to reach $2.7 billion in 2016, according to a TechSci Research report, due to deteriorating indoor and outdoor air quality, rising consumer awareness regarding airborne diseases, coupled with stringent government regulations to improve IAQ.
HEPA filters are capable of delivering 99.97 percent efficiency in removing fine particles of size 0.3 microns or more. They have the ability to trap dust mites, mold spores, pollen, animal dander, tobacco smoke in the air as well as bacteria, fungi, and viruses.
With the increasing penetration of air purifiers in the residential as well as commercial sector, the HEPA filters market is projected to exhibit promising growth over the next five years. During 2011-2015, the air purifiers segment emerged as the largest as well as the fastest growing application area of HEPA filters. The global air purifiers market is projected to witness year-over-year growth of more than 14 percent in the coming years, thereby creating lucrative opportunities for HEPA filters.
Another major application area of HEPA filters is the global HVAC systems market. Rising population, the growing housing sector, surging income levels in emerging markets, and the growing number of industrial systems are some of the key drivers catalyzing the growth of global HVAC market, which is anticipated to surpass $128 billion in revenue by 2020. Consequently, the HVAC systems segment is expected to remain the second most dominant application area for HEPA filters through 2021.
The Asia-Pacific region accounted for the largest share of the global HEPA filters market in 2015. In addition, on account of declining IAQ in major developing countries like China and India, demand for HEPA filters from the air purifiers industry is expected to witness robust growth in the coming years.
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Publication date: 4/11/2016