CLEVELAND, Jan. 11, 2017 /PRNewswire/ -- Demand for air and fluid filters in the Asia/Pacific region totaled $11.4 billion in 2015, representing the world's largest regional market. Because the area is home to both developed and developing economies, air and fluid filter demand tends to vary considerably from country to country. In general, however, the Asia/Pacific region has a low intensity of air and fluid filter consumption per capita. China is by far the leading consumer of air and fluid filters, accounting for roughly 45 percent of regional sales in 2015. Japan, India, and South Korea are the next largest markets, among the top 10 air and fluid filter consumers in the world. These and other trends are presented in Global Air & Fluid Filters Market, a new study from The Freedonia Group, a Cleveland-based industry research firm.
The study is available here
Fluid filters were the larger segment of the Asia/Pacific market in 2015, representing 52 percent of total regional air and fluid filter sales. Fluid filter sales will be supported by continued economic growth and an expansion in manufacturing output, driving demand for both fluid filters used to process industrial fluids and for fluid power filters used in manufacturing equipment. Additional gains will be promoted by an expansion of water and wastewater treatment infrastructure throughout the region. Increases in personal incomes and growing concerns about drinking water quality will propel consumers to purchase consumer water treatment systems. Domestic production of these systems to meet local demand will provide opportunities for filters at the OEM level. An expansion in the installed base of consumer water treatment systems will require more replacement filters.
Going forward, air filters are forecast to post the faster gains, as well as the majority of new growth in total regional demand. Sales of these products will benefit from increases in building construction spending and manufacturing activity, as well as from environmental regulations promoting the greater use of pollution control equipment. Rising concerns over indoor air quality, both in nonresidential and residential settings, will further promote demand for air treatment systems and corresponding filters.
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About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, market share information and profiles of the leading industry players. Reports can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group