Press release
Filters Market Will Witness Growth On Account Of Increasing Demand For Low Emission Control Vehicles Till 2024: Grand View Research, Inc.
Regulatory norms supporting the filters market growth across various European countries such as the UK, France, Spain, Italy, and Germany coupled with stringent environmental emission guidelines followed in the U.S. are also anticipated to benefit the industry growth. Regulations governing the supply of purified drinking water are expected to drive the demand for fluid filters over the next six years.
Increasing automobile production particularly in emerging economies of China, India, Thailand, and Indonesia have also contributed towards the market development. Key companies have been focusing on these high growth markets for future expansions.
Browse full research report on Global Filters Market: http://www.grandviewresearch.com/industry-analysis/filters-market
Further key findings from the report suggest:
• The global filters market was valued at USD 63.35 billion in 2015 and is expected to reach USD 110.82 billion by 2024, growing at a CAGR of 6.4%from 2016 to 2024
• IC engine segment emerged as the most dominant filter product consumed globally and accounted for 44.5% of total market revenue in 2015. Positive outlook of automobile industry on account of favorable government policies particularly in Asia Pacific and Latin America is expected to drive this segment over the forecast period.
• Motor vehicles emerged as the leading application and accounted for 51.4% of total market revenue in 2015. Stringent regulations to curb harmful emission generated from automobiles has prompted the demand for filters in the automotive industry. Consumer goods are expected to witness the highest growth of 7.4% from 2016 to 2024.
• Asia Pacific was the leading regional market and accounted for 38.4% of global revenue in 2015.Asia Pacific is also expected to remain the most lucrative region in terms of growth on account of rising manufacturing activities and the growing automotive industry, particularly in China and India.
• Some leading companies operating in the global filters market include Donaldson Company, Clarcor Incorporated, Affinia Group Intermediate Holdings, Parker-Hannifin Corporation, Cummins, BRITA GmbH, Pall Corporation, and MANN+HUMMEL.
Read detailed report or request for sample of this research report:
http://www.grandviewresearch.com/industry-analysis/filters-market/request
Grand View Research has segmented the filters market on the basis of product, application and region:
Global Filters Product Outlook (Revenue, USD Million, 2014 - 2024)
• Fluid
• IC Engine
• Air
Global Filters Application Outlook (Revenue, USD Million, 2014 - 2024)
• Motor vehicles
• Consumer applications
• Utilities
• Industrial & manufacturing
• Others
Global Filters Regional Outlook (Revenue, USD Million, 2014 - 2024)
• North America
o U.S.
o Mexico
o Canada
• Europe
o Germany
o UK
o Spain
• Asia Pacific
o China
o Japan
o India
• Central & South America
o Brazil
• Middle East and Africa
o South Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Press Contact
Sherry James - Corporate Sales Specialist, USA
28 2nd Street, Suite 3036
San Francisco, CA 94105
United States
Phone: 1-415-349-0058
Email: sales@grandviewresearch.com
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