Panel Filters Market Report 2024 Size, Share Analysis, Trends And Forecast 2024-2033

The panel filters market size has grown strongly in recent years. It will grow from $5.59 billion in 2023 to $5.92 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to increased concerns about air quality and indoor pollution, growth in industrial and manufacturing activities, expansion of hvac and air filtration systems, stringent environmental and occupational health regulations, rise in awareness of respiratory health and allergies.

The panel filters market size is expected to see strong growth in the next few years. It will grow to $7.53 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to adoption of high-efficiency panel filters for cleanrooms, expansion of data centers and critical environment facilities, research and development in nanofiber and electrostatic filtration, need for energy-efficient and low-pressure drop filters, emphasis on filtration in commercial and public buildings, growing demand for panel filters in transportation and automotive industries. Major trends in the forecast period include smart and iot-enabled air filtration systems, advanced filtration media and nanofiber technology, low-profile and space-saving filter designs, pleated panel filters for increased surface area, air quality monitoring and indoor environmental quality (ieq).

Market Overview -
Panel filters refer to air filters that filter out dust and other airborne impurities. They use a negative pressure system to clean particles ranging in size from 1 micron to 50 microns. In addition to preventing particle contamination of the engine oil, panel filters also protect mechanical components from wear and tear brought on by particle abrasion.

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Rising Air Quality Concerns Drive Surge In Panel Filters Market Demand
The deteriorating air quality levels is expected to propel the growth of the panel filters market going forward. A building's interior and exterior air quality is referred to as its indoor air quality. Contaminants found in indoor air include dust, pollen, fibers, metal or wood particles, hair and animal fur, bacteria, and microorganisms. In addition to causing headaches, dizziness, and fatigue, these contaminants have a negative impact on health by irritating the eyes, nose, and throat. Panel filters are used for the purpose of purifying the air of a workspace or home by preventing air pollution for instance, in March 2022, according to a report published by IQAir, a Switzerland-based air quality technology company, Mumbai had a particulate matter (PM) 2.5 annual average of 46.4 micrograms/cubic metre in 2021, which was nearly nine times the WHO limit. Therefore, the deteriorating air quality levels are driving the growth of the panel filters market.

Competitive Landscape -
Major companies operating in the panel filters market include American Air Filter Company Inc., Koch Filter Corporation, AFPRO Filters B.V., Filter Equipment Company Inc., Camfil AB, Donaldson Company Inc., Mann+Hummel GmbH, Parker Hannifin Corporation, Freudenberg Filtration Technologies, Filtration Group Corporation, Clarcor Inc., Ahlstrom-Munksjö Oyj, Spectrum Filtration Pvt. Ltd., Purafil Inc., Universal Air Filter Company, Minnesota Mining and Manufacturing Company, Airguard Industries Inc., Baldwin Filters Inc., Columbus Industries Inc., General Electric Company, Honeywell International Inc., Purolator Inc., Nederman Holding AB, Trion Inc., HAGUE Quality Water, Permatron Corporation, Pentair plc

Innovative Breakthroughs Reshaping The Panel Filters Market Focus On Residential And Commercial Applications
Innovations and developments of new products for residential and commercial applications is the key trend gaining popularity in the panel filters market. Major companies operating in the market are developing innovative products to offer filter designs, higher performance air filtration media, overall system design and also increased degrees of separation to satisfy more and more advanced industrial processes. For instance, in October 2021, Camfil, a Sweden-based developer and producer of air filters and clean air products, introduced CamClose, a new generation of panel filters. The CamClose is a panel air filter created to increase the lifespan of the final filter. The overall filtration effectiveness is increased by placing the CamClose pre-filter in front of a final filter. The CamClose pre-filter's features will make installation easier, boost filtration effectiveness, and provide superior defence in damp environments.

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Key Segments -
The panel filters market covered in this report is segmented -
1) By Type: Disposable Panel Filters, Reusable Panel Filters
2) By Material: Fiberglass, Synthetic, Other Materials
3) By Application: Residential, Non-residential

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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