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HVAC Filters Market Revenue and Growth Analysis | Global Market Insights
HVAC Filters Market
Increasing demand for energy-efficient air purification owing to deteriorating outdoor and indoor air quality is poised to drive global HVAC filters market forecast. HVAC filters are utilized to keep air clean while maintaining steady air circulation within the building. These systems also facilitate cooling, heating and provide humidity control option.
With improving standards of living, masses are more inclined towards good air quality and temperature control in residential and commercial infrastructure. Due to these factors, HVAC systems are experiencing heavy adoption. Supported by regulatory authorities, manufacturers and are making substantial efforts to develop innovative and cost-effective HVAC solutions.
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Availability of expansive product offering which facilitates cooling, heating and humidity control for residential, commercial and industrial use may fuel product penetration in the coming years. HVAC filters market size is forecast to exceed USD 13 billion by 2024 globally. Stringent environmental guidelines by agencies including EPA, EU and FDA, on restricting use of refrigerants, ammonia, sulphur oxide and nitrogen oxide will further fuel the demand for HVAC filters.
These filters are combined with air conditioners to eliminate impurities such as fine particulate matter, pollens and dust particles from the air. High cost maintenance and installation of these systems may hamper profitability of the industry players. Moreover, laborious cleaning and maintenance process due to numerous layers of filter medium that are supposed to be detached and cleaned separately, may impel HVAC filters adoption.
Carbon HVAC filters are widely utilized to tackle volatile organic compounds release from residential settings. They are also deployed to eliminate odors from air, including cooking fumes or smell of tobacco smoke. These systems are designed to purify gases through activated charcoal bed. Carbon HVAC filters industry share is slated to amass substantial gains with annual revenue generation of over USD 1.5 billion by 2024.
An enormous demand for purification solutions in construction industry has been emerging. This has led to increasing adoption of HVAC filters in construction applications. These filters collect dust and control emissions at multiple stages including material transfer and primary & secondary crushing. Rise in number of infrastructural development projects across the globe will further bolster product adoption.
HVAC filters industry size from construction application is poised to observe gains up to 4% over the analysis period. Rising awareness pertaining to negative health impacts of deteriorating air quality is fueling the demand for HVAC filters in residential and non-residential sectors across Japan. Consumers are increasingly inclined towards energy efficient, advanced HVAC filters which will support regional growth. Japan HVAC filters market share is forecast to gather substantial gains up to 5.5% up to 2024.
Germany HVAC filters industry is depicting immense traction and is expected to exceed USD 715 million by 2024. This commendable growth can be attributed to presence of various pharmaceutical and food & beverage manufacturers across the region. Growing per capita income and clean air initiatives undertaken by the governments across the U.K. are the key factors driving regional growth.
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Global HVAC filters industry share is notably competitive and moderately fragmented with industry participants including Tex-Air, Koch, Spectrum Filtration, Troy, Parker Hannifin Corp, AAF, and Camfil. These players are investing heavily in capacity expansion, product innovation and R&D activities to cater to growing product demand.
Related Reports:
Air Humidifier Market@ https://www.prnewswire.com/news-releases/air-humidifier-market-demand-to-cross-usd-6-bn-by-2026-global-market-insights-inc-301043395.html
Air Compressor Market@ https://www.prnewswire.com/news-releases/global-air-compressors-market-to-exceed-usd-107-56b-by-2026-global-market-insights-inc-301039411.html
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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