Press release
Asia Pacific Air Filtration Market to grow at CAGR projection of 8.6% over 2016-2023.
Asia Pacific air filtration market growth is characterized by the necessity to conserve energy and increase engine efficiency by means of enhancing the existing emission control systems. Air filters basically help filter out the impurities in the air, including, but not limited to pollen, bacteria, dust, and mold. Combined with a catalyst, air filters help absorb pollutants and odors from the atmosphere as well. Their extensive utilization in numerous applications such as cement, pharmaceuticals, food, and power generation sectors will stimulate Asia Pacific air filtration industry, given that the region is touted to have enormous growth prospects in the aforementioned application domains. Growing environmental awareness, the need to conserve energy on a large scale, and rapid industrialization and urbanization will fuel Asia Pacific Air Filtration Market size, slated to cross a revenue of USD 6.6 billion by 2023, with a CAGR projection of 8.6% over 2016-2023.Request a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/746
Companies operating in Asia Pacific air filtration industry are vertically integrated and have been focusing on growth strategies such as product differentiation and mergers & acquisitions. An instance of the latter would be the 2014 acquisition of Vokes Air by Mann+Hummel from The Riverside Company. The year 2015 witnessed the same company acquiring the prestigious Affinia Group. Major companies in Asia Pacific air filtration market include Cummins, Purafil, ACDelco, Mann+Hummel, Denso, Clarcor, Mahle, K&N Engineering, Donaldson, Sogefi Group, Camfil Group, Nederman, and W.L. Gore & Associates.
Recently, K&N Engineering featured their new range of innovative air filters embedded with superior efficiency and capacity for off-road conditions, at the 2017 UTV World Championship. In March 2017, even the Audi Customer Sports Racing Australia deployed K&N air filters for their R8 GT3 fleet. Such recurrent efforts by industry players will positively impact Asia Pacific air filtration industry.
Industrial products contributed to more than 27% of Asia Pacific air filtration market revenue in 2015, subject to the high demand of air filters in the medical sector and laboratories. The sub-products of industrial filters, such as dust collectors, baghouse filters, cartridge collectors & filters, mist collectors, and HEPA filters, are also extensively used across the cement, metal, and power sectors, to absorb dust, moisture, pollutants, and allergens, owing to which Asia Pacific air filtration industry from industrial products is expected to register a CAGR of 9.5% over 2016-2023.
Mist collectors, a vital product of Asia Pacific air filtration market, have numerous applications in metal processing and the food & beverage sectors. Subject to this factor, Asia Pacific air filtration mist collectors market will grow significantly over the next few years.
Dust collectors, another key industrial product, is highly capable of removing dust from heavy industrial operations and requires minimal maintenance, subject to which Asia Pacific air filtration dust collectors industry will witness a significant growth rate over 2016-2023.
Air filters are extensively deployed in electricity generation units, owing to which Asia Pacific air filtration market from power applications will record an annual growth rate of 9.7% over 2016-2023.
Automotive products held more than 55% of Asia Pacific air filtration industry share in 2015. These products primarily encompass cabin and intake filters, which absorb dust, debris, and other solid particulates that pose a harm to auto cylinders and pistons. In addition, they preserve the air-fuel mixture, helping the engine to function efficiently, minimize ignition problems, aiding limited fuel consumption, and improve emission control systems, thereby reducing emissions. The aforementioned benefits will stimulate the product demand, propelling Asia Pacific automotive air filtration market, set to grow at a CAGR of 8% over 2016-2023. These filters also need to be replaced occasionally, which will further spur the product demand. The rising requirement of cabin filters in electric vehicles will fuel Asia Pacific air filtration market from automotive products.
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China being one of the most lucrative avenues for the automotive and industrial sectors, will witness high demand for air filters. Asia Pacific air filtration industry from China is estimated to grow at a CAGR of 9% over 2016-2023, driven by the rise in the number of automobiles and the prevalence of an enormous number of power and cement industries in the region. Pertaining to strict government regulations regarding vehicular emissions and the rapid industrialization, China is expected to lead Asia Pacific air filtration market over the years to come. The heavy growth of automotive aftermarket in India and China will also spur the regional industry.
Air filters are prominently used in research facilities, laboratories, hospitals, power generation units, fuel processing sectors, and waste management to help get rid of pollutants, pollens, dust, debris, mist, oil droplets, abrasion particles, contaminants, and other coarse particulates, thereby driving Asia Pacific air filtration market. The rising need to optimize energy consumption, reduce vehicle emissions, conserve energy, and reduce environmental pollution will impel Asia Pacific air filtration industry over 2016-2023. To achieve 100% efficiency and dirt absorption, companies are now manufacturing efficient industrial filters with safety mechanisms and advanced features that will aid in completely eradicating pollutants from the atmosphere.
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