Residential Air Filter Market Set to Expand at 7.3% CAGR over the Review Period 2022-2031

Residential Air Filter Market Size, Share, Competitive Landscape and Trend Analysis Report by Filter Type (HEPA Filters, Activated Carbon Filters, Fibre Glass, Bag Filters, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

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

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.

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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. On the other hand, the residential air filter market is expected to be restrained by the high initial capital requirement and high operational costs of electronic residential air filters. More important, the market opportunity during the forecast period lies in focusing-on the use of nanotechnology for residential air cleaner.

In terms of the market segmentation by type, the residential air filter market size was dominated by the fibre glass segment in 2021, whereas the activated carbon filters segment is expected to witness a higher growth rate during the forecast period. In terms of region, the residential air filter market share was dominated by Asia-Pacific in 2021, even though LAMEA is expected to grow at a faster rate during the forecast period.

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The overall impact of covid-19 pandemic on the residential air filter market growth has exhibited mixed results considering declined sale of HVAC systems, recent increases in sale of air-conditioners, and increased awareness regarding maintenance of indoor air quality leading to increased demand for residential air filters.

The key players profiled in the report 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, and Freudenberg Filtration Technologies SE & Co. KG. These key players adopt several strategies such as new product launch and development, acquisition, partnership and collaboration and business expansion to increase their market share in the global residential air filter market during the forecast period.

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The key players profiled in the residential air filter market are 3M Company, Parker Hannifin Corporation, MANN+HUMMEL Group, Camfil AB, Purafil Inc., Lydall-Gutsche GmbH & Co. Kg, Emerson Electric Co., Daikin Industries Ltd., Johnson Controls International plc, and Freudenberg Filtration Technologies SE & Co. KG. Several different strategies have been adopted by these players to expand their foothold in the market. These strategies include business expansion, launch of new products, acquisitions, and business expansion.

Key Findings of the Study
• In residential air filter market analysis, in 2021, the fibre glass segment accounted-for maximum revenue, while the activated carbon filters segment is projected to grow at a notable CAGR during the forecast period.
• In residential air filter market trends, in 2021, Asia-Pacific contributed for the major share of the residential air filter market, while LAMEA region is expected to expand at the fastest rate during the forecast years.

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