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.