Residential Air Filter Market Size is Projected to Reach $7.1 Billion by 2031 | Growing at a CAGR of 7.3%.

Allied Market Research published a report on the Residential Air Filter Market by Filter Type (HEPA Filters, Activated Carbon Filters, Fibre Glass, Bag Filters, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.

The global residential air filter market was valued at $3.5 billion in 2021, and is projected to reach $7.1 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031.

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A residential air filter is an air filter which is used in residential heating, ventilating, and air conditioning (HVAC) equipment such as HVAC systems and air conditioners. They are an important part of these equipment and they are used for the process of eliminating or reducing unwanted gases or particles from the air. They are made-of different materials such as metals and fibres, and they use chemical or physical process to catch the unwanted airborne particles. Air filters can have a MERV rating from 1 to more than 15, the higher their MERV rating, the better they are, at filtering-out pollution from the indoor and outdoor air.

The residential air filter industry is primarily driven by degradation in air quality, which is a result of urbanization, rapid industrialization, and vehicular traffic in urban areas. Infact, according to the World Health Organization (WHO), as a singular factor, indoor air quality (IAQ) is the largest global environmental risk, accounting-for 4.1% of global deaths. Similarly, increased awareness and policies to maintain indoor air quality (IAQ) have also played a major role in the boosting the sales in the market. Furthermore, the increased sales of air conditioners and HVAC systems also drive the market towards further sales.

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The research report presents a complete judgment of the residential air filter market trends, growth factors, consumption, production volume, CAGR value, attentive opinions, profit margin, price, and industry-validated market data. Also, these research report provides accurate economic, global, and country-level predictions and analysis, size and share analysis, market dynamics, segmental analysis, top investment pockets, competition landscape, market drivers, restraints, and opportunities.

Competitive Analysis:

The residential air filter industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major key players of the global residential air filter market include,

Camfil AB
Parker Hannifin Corporation
Daikin Industries Ltd.
MANN+HUMMEL Group
Purafil Inc.
Lydall-Gutsche GmbH & Co. Kg
Emerson Electric Co.
3M Company
Johnson Controls International plc
Freudenberg Filtration Technologies SE & Co. KG

Report Overview:
https://www.alliedmarketresearch.com/residential-air-filter-market-A12778

Top Impacting Factors:

A top impacting factor for the global residential air filter market growth includes the growth in the sales of HVAC systems and air conditioners. These equipment are sold globally and their market is fairly well-established and results in consistent sales every year. Air conditioners are sold regularly in developed as well as developing nations. Infact, in November 2022, Daikin decided to invest US$ 711 million in India and Southeast Asia in the coming four years to manufacture smaller air conditioners and core parts. Another impacting factor is the increase in policies and awareness to maintain indoor air quality (IAQ). For instance, WHO has stated that high exposure to smoke from cooking fires results in approximately 3.8 million premature deaths every year, especially in middle- and low-income countries. This has led to several laws and regulations by governments to maintain indoor air quality. Lastly, the market is expected to be boosted by degradation of air quality. One of the primary reasons for this air pollution is the growth in vehicular traffic in urban areas, causing health issues to people living next to busy roads.

Research Methodology:

The research uses both primary and secondary research to assemble data on the various facets of the international residential air filter market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data that has been produced by international organizations, business groups, government and research institutions, and so on.

Key Benefits for Stakeholders:

1) Porter's five forces analysis illustrates the potency of the buyers and the residential air filter market share of key vendors.

2) The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.

3) This study comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets.

4) Major countries in each region are mapped according to their revenue contribution to the global market.

5) The report includes major residential air filter suppliers along with the company overview, business segments, product portfolio, and key strategic moves and development in the market.

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