Aug. 3, 2004: Air Filter Sales To Expand To $6.1 Billion By 2007
NORTHFIELD, Ill. - Sales of air filters reached $5.1 billion in 2003, up 6 percent from 2002, according to the McIlvaine Company, a market research firm, in its Air Filtration and Purification World Markets report. The report also predicts that worldwide sales will reach $6.1 billion by 2007.
The big growth in filter sales came in the HVAC market, noted McIlvaine. The spurt in new residential housing in the U.S. combined with greater outlays per unit for filters was a factor. The replacement filter market was benefited by more frequent replacement, which was attributed to public awareness of the health benefits. 3M has substantially increased its market share and is now the leading supplier (based on revenues and not units) of residential filters in the U.S., McIlvaine stated. The residential filter market is still small in other countries of the world.