IAQ Concerns Drive Air Filter Market
Market is forecast to grow at CAGR of 5.6 percent from 2016-2020
PUNE, India — Air filters play a significant role in maintaining IAQ as one of the main components in HVAC systems. Estimates by the U.S. Environmental Protection Agency (EPA) suggest that people spend 90 percent of their time indoors, which justifies the growing concern over IAQ. Organizations, such as World Health Organization (WHO) and those in various countries around the globe, have set guidelines for IAQ standards, which have been a primary driver for the growth of the air filter market.
According to a new report from ReportsnReports, the global air filter market is forecast to grow at a compound annual growth rate (CAGR) of 5.6 percent from 2016-2020. Poor IAQ has led to health issues, such as sick building syndrome, building-related illnesses, and multiple chemical sensitivity (MCS). These factors have resulted in the framing of new guidelines and regulations for commercial buildings, which has accelerated the demand for better air filters in the HVAC systems used in commercial buildings. Furthermore, the growth in construction activities in the U.S. and the massive resurgence in urban infrastructure construction activities in Asia Pacific will fuel the growth of air filters.
“Global Air Filter Market 2016-2020” has been prepared based on an in-depth market analysis with input from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. This report covers the present scenario and the growth prospects of the global air filter market to 2020. To calculate the market size, the report considers the demand of air filters from various end-user applications.
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Publication date: 6/20/2016