Panel Filters Market Size Is Projected To Surpass USD 11.51 Billion By 2030 | CAGR: 4.3%

The global panel filter market size is expected to reach USD 11.51 billion by 2030 according to a new study by Polaris Market Research.

The demand for the industry is expected to witness growth on account of their increasing penetration in ionizers, aircraft, gas turbines, air compressors, and others. They are often used for domestic and commercial purposes and are marketed in the form of air purifiers, water purifiers, mechanical filters, dust collectors, and others.

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One of the primary factors driving the demand worldwide is the rising air pollution level due to industrial activities. In addition, several governmental agencies regulating the sector are also likely to have a positive impact on the market growth. The increasing use of the product in several consumer goods, which includes air and water purifiers, is expected to have a positive impact on industry growth.

The market is driven by increasing degradation of air quality levels and enforcement of stringent governmental laws to reduce air pollution. An increase in product usages, such as air purifiers and water purifiers, impacts positive growth. Additionally, due to the increase in global warming, installation of the HVAC system has increased for impurity-free air complementing the demand.

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The Covid-19 pandemic had a positive as well as negative impact on the industry. The demand in the healthcare industry witnessed significant growth on account of the increasing installation of water filters and air purifiers in hospitals, pathology labs, and operation theatres, among others.

Meanwhile, the food industry, automotive, construction, and others witnessed a decrease in the demand for panel filters due to disturbance in the supply chain and reduced industrial activities due to the stringent pandemic lockdown.

Panel filters are adaptable, long-lasting, and sustainable, which owns resistance across several industries. Due to its finest property and changing governmental laws, the industry is expected to increase.

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Panel Filter Market Report Highlights
• Reusable or washable panel filter is expected to account for the largest revenue share as it eliminates the inconvenience, and expense of purchasing, storing and replacement of filters
• On the basis of application, the non-residential segment is expected to account for a considerable share of the panel filters. As the demand for the product is high in food & beverage, automotive, and manufacturing sectors, the non-residential segment is likely to witness growth.
• Stringent regulation enforced by several government agencies to curb air pollution through industrial sector is expected to have positive impact on the panel filters demand
• Asia Pacific is expected to witness fastest growth over the forecast period owing to the increasing pollution due to rising industrial activities and growing demand population leading to high demand for vehicles
• The global market is highly competitive owing to the existence of large industry players with global presence Camfil AG, Freudenberg Filtration Technologies, HDT Global, Porvair Filtration Group, Tidewater Air Filter Fabrication Co.,

Polaris Market Research has segmented the panel filter market report based on type, application, and region:

Panel Filter, Type Outlook (Revenue - USD Billion, 2018 - 2030)
• Disposable
• Reusable

Panel Filter, Application Outlook (Revenue - USD Billion, 2018 - 2030)
• Residential
• Non-residential

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This release was published on openPR.