CLEVELAND, April 5, 2017 /PRNewswire/ -- US filter demand is forecast to rise to $14.7 billion in 2020 on yearly advances of 3.1%, below the global average. Growth will be largely supported by replacement requirements of the large installed base of filter-containing products, such as motor vehicles, industrial machinery, warm air furnaces, industrial pollution control equipment, and consumer air and water treatment systems. These and other trends are presented in Global Filters Market Forecast, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Factors fueling further gains in product demand include:
- a positive economic outlook, including continued growth in manufacturing activity and construction expenditures
- increasing consumer preoccupation with domestic indoor air quality and tap water purity
- a trend toward higher value products, such as those with "smart" features or advanced media
Air and fluid filters are expected to post more rapid gains through 2020, driven by their use in the manufacturing sector, such as purifying process industrial fluids, controlling pollution in air and water waste streams, and enabling hydraulic and pneumatic equipment to run properly.
More information about the study is available at http://www.freedoniagroup.com/industry-study/global-filters-market-forecasts-3490.htm
This brief summarizes the global market for filters, combining the data of two detailed Freedonia Group studies:
- #3443 Global Air & Fluid Filters Market (January 2017)
- #3481 Global Internal Combustion Engine & Related Filters Market
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group 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. Industrial Components studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group