Press release
HVAC Filters Market to exceed $13 Bn by 2024 | Camfil, Parker Hannifin, Koch Filter, AAF, Filtration Group
HVAC Filters Market
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HVAC Filters Market may surpass USD 13 billion by 2024; according to a new research report.
Improving standard of living and increasing demand for energy-efficient air purification will contribute to HVAC filters market growth. This can be credited to substantial efforts taken by manufacturers and regulatory authorities. Growing innovation measures have also led to the development of cost-effective systems, which may open avenues for players and escalate product demand.
Availability of improved product offering which also facilitates cooling, heating and humidity control in infrastructural facility will promote its application in residential and commercial building, thus propelling industry growth. Rising customer awareness and inclination towards high indoor air quality due to their low toxicity, and environment pollution should drive product demand.
HVAC filters market is moderately fragmented and highly competitive with major industry players including Koch, Tex-Air, Spectrum Filtration, Parker Hannifin Corp, Troy, AAF, Camfil, and Emirates Industrial. Companies are investing heavily in R&D, capacity expansion, and product innovation for growing product demand.
Market Regional Growth Drivers: --
North America: -- Growing demand for HEPA filters that reduce airborne contaminants in hospitals
Europe: -- Innovations in filter media driven by advancements in nanotechnology
Asia Pacific: -- Demand for HVAC energy efficiency and increasing stringent air quality regulations across a variety of end markets
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Carbon HVAC filters market will exceed USD 1.5 billion up to 2024. They are designed to purify gases through activated charcoal bed and are deployed to tackle volatile organic compounds released from residential products. They are also utilized to eradicate odors from air, including smell of tobacco smoke, hence propelling the market growth.
Japan HVAC filters market may observe significant gains over 5.5% by 2024. Rising awareness of negative environmental impacts is driving product demand in residential and non-residential sectors including commercial, institutions, office and healthcare sectors. Consumers are changing their preferences for energy efficient products, thus propelling market growth.
Germany HVAC filters market is anticipated to exceed USD 715 million by 2024 owing to presence of various pharmaceutical and food & beverage manufacturers. Extension in product portfolio and R&D initiatives by several manufacturers will develop industry growth. Growing per capita income with government support for clean air should further strengthen regional industry growth.
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