Pleated Filters Market Development Analysis to 2022 | 3M, General Motors, Donaldson, Camfil, Atlas Copco, Columbus Industries
U.S. pleated filters market is slated to record a CAGR of 3.2% over the period of 2015-2022, stimulated by the implementation of strict legislations by regulatory authorities such as US EPA (United States Environmental Protection Agency) to reduce air-borne ailments. Global Market Insights, Inc. has estimated pleated filters market to hit a revenue of USD 14.9 billion by 2022. The rising popularity of energy conserving and low carbon emitting devices is projected to generate a huge market for pleated filters. Implementation of strict laws in Europe and U.S. pertaining to food safety will also contribute substantially towards the product sales.
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HEPA filters, food & beverage filters, air filters, medium efficiency filters, and oil filters are the major pleated filter products. Air filters, which contributed over 50% of pleated filters market volume in 2014, will spur the industry size in future. The rising trend toward the usage of proficient devices to reduce indoor pollutants will uplift the product demand. Oil filters are foreseen to register a CAGR of 7.5% over 2015-2022. Rise in the number of fleet vehicles in APAC and MEA regions along with the growing utility of oil filters across the automotive sector is likely to boost the product popularity.
Industrial applications noticed maximum installation, thus earning significant revenue of USD 3.5 billion in the year 2014. This sector has been emerged as a thriving segment because of demand in infrastructure development of power and cement industries. Limitations in emission along with HEPA standards are expected to drive the need for industrial applications.
Residential applications are foreseen to register considerable gains of 5.7% during the period between 2015 to 2022. Pleated filters market size in the commercial sector is anticipated to grow at a CAGR of 6% over the coming five years, driven by the escalated product requirement in schools and offices.
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In April 2017, the Donaldson Company introduced a snap-in pleated bag filter replacing the Torit RF baghouse dust collector. This new filter helps to reduce operational costs by 50% as compared to the baghouse dust collector, thereby reducing costs. Beneficial features such as an elongated lifespan and the ability to provide purified air is expected to enhance the demand for these across the globe, and this in turn will create a huge growth potential for pleated filters market. Such innovations in filtration technologies will offer high growth prospects for the new entrants.
The global market of pleated filters has got an upsurge because of national as well as international participants. This market is anticipated to attract more business in near future due to emerging industries and economies. Major companies in pleated filters market are 3M Company, General Motors Company, The Strainite Companies, Donaldson Company Inc., Midwesco Filter Resources Inc, Columbus Industries, Camfil AB and Atlas Copco.
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