Pleated Filters Market to exceed USD 14.9 billion with grow at over 6.5% CAGR from 2015 – 2022: Fractovia.Org

Pleated filters market is gearing up at a face pace with the increasing penetration of HVAC systems across the globe. Subject to the increasing application scope of pleated filters in the HVAC installations, the market has been observing a significant demand over the past few years.

A noticeable trend of incorporating advanced air conditioning systems is also driving the product demand significantly. In addition to this, some of the renowned organizations like EPA and REACH are also imposing stringent regulatory compliance to combat the deteriorating air quality, which is further anticipated to complement the business landscape over the coming five years.

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Robust growth in oil and gas industry will play a pivotal role in boosting the overall market trends in the years ahead. Owing to extensive deployment of these filters in oil exploration and production applications to ensure the continuous down flow of fluids, pleated filters market demand is extremely high in this sector.

Oil filters market is expected to observe maximum gains over the coming years with an expected CAGR of 7.5% over 2015-2022. Increasing proliferation of automotive industry in APAC belt will also leave an impact on the market outlook, as pleated filter is an integral part of automotive engines. On the other hand, air based filters emerged to be the leading product segment in 2014, accounting for more than 50% of the overall pleated filters industry share.

Accounting for a revenue of almost USD 3.5 billion in 2014, industrial application represented a major chunk of the global share. Rapid industrialization of emerging nations which has led to significant investments in power and cement sectors, is driving the product demand in this application.

Commercial sector is another niche application domain which accounted for a prominent share of the pleated filters market in 2014. As per estimates, it emerged as the second largest application domain after industrial sector, covering almost 20% of the overall pleated filters market size. With the increasing replacement of old air conditioners in commercial buildings, pleated filters market from this sector will grow substantially at an annual rate of 6% over 2015-2022.

With India, Japan, and China at the helm, APAC pleated filters market procured the maximum portion of the industry in 2014 with a valuation of USD 3 billion. The trend is likely to continue in the coming time frame, subject to the rapid urbanization and the increasing flow of regulatory norms pertaining to environmental pollution. Europe will also witness a strong foothold in the pleated filters market in the years ahead and is projected to grow substantially at a CAGR of 5.5% over 2015-2022.

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Global Pleated filters industry is highly fragmented with the engagement of large number of international and domestic participants all over the world. Some of key players of the market include General Motors Company, Midwesco Filter Resources Inc, 3M Company, and Donaldson Company Inc.

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