Global HVAC Filters Markets to 2024: Synthetic Polymer Segment Projected to Grow at the Highest CAGR

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Nov 26, 2019, 14:00 ET

DUBLIN, Nov. 26, 2019 /PRNewswire/ -- The "HVAC Filters Market by Material (Fiberglass, Synthetic Polymer, Carbon), Technology (Electrostatic Precipitator, HEPA, Activated Carbon), End-Use Industry (Building & Construction, Pharmaceutical, Food & Beverage), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The HVAC filters market is estimated to be USD 6 billion in 2019 and is projected to reach USD 7.7 billion by 2024, at a CAGR of 5.1% from 2019 to 2024.

Increasing demand for HVAC systems, growing awareness about indoor air quality, and stringent government regulations for efficient filtration are the main factors that have led to the growth the HVAC filters market. Rising environmental concerns due to the emission of hydrofluorocarbons (HFCs) from HVAC systems are restraining the growth of the HVAC filters market.

Some of the leading manufacturers of HVAC filters profiled in this report include Camfil AB (Sweden), MANN+HUMMEL (Germany), Donaldson Company, Inc. (US), Filtration Group Corporation (US), Koch Filter (US), 3M Company (US), Parker Hannifin Corporation (US), Ahlstrom-Munksj (Finland), American Air Filter Company, Inc. (US), and Freudenberg Group (Germany).

The synthetic polymer segment is projected to grow at the highest CAGR in the HVAC filters market during the forecast period

The synthetic polymer segment is estimated to be the largest material segment in 2019. This segment is also projected to register the highest CAGR during the forecast period. The demand for the synthetic polymer material is owing to its higher efficiency, greater washability, and longevity compared to other conventional fiberglass filters. Filters made of synthetic polymer have a pleated design, which increases the surface area, thus making the filter more efficient at capturing airborne particles in HVAC systems.

The HEPA segment is expected to lead the HVAC filters market during the forecast period

Based on technology, the HEPA segment is estimated to account for the largest share of the HVAC filters market in 2019. The HEPA filter technology has the capability of trapping 99.97% dust particles that are 0.3 microns or larger in size. HEPA filters have diverse application areas, including residential buildings, pharmaceutical production, food & beverages, and clean rooms in the electronics & semiconductor industry, among others. The demand for the HEPA filter technology is expected to increase in several industries due to the technology's capability of providing improved indoor air quality.

The building & construction segment is expected to lead the HVAC filters market during the forecast period

Based on end-use industry, the building & construction accounted for the largest share of the HVAC filters market in 2018 in terms of volume. This growth is mainly attributed to increasing construction activities in the residential and commercial sectors. The increasing demand for green buildings and awareness about indoor air quality are also expected to fuel the growth of the HVAC filters market in the building & construction segment during the forecast period.

The Asia Pacific HVAC filters market is projected to witness the highest CAGR between 2019 and 2024

By region, the Asia Pacific HVAC filters market is projected to grow at the highest rate between 2019 and 2024. The market growth in this region is mainly attributed to improved economic conditions of developing countries, increasing building and construction activities, and rising global warming. The presence of various associations that support the adoption of efficient HVAC systems is expected to help drive the demand for HVAC filters in the region during the forecast period.

Research Coverage

This report covers the HVAC filters market by material, technology, end-use industry, and region. It aims at estimating the size and future growth potential of the market across various segments. The report also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.

Key Benefits of Buying the Report

From an insight perspective, this report focuses on various levels of analyses, such as industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments, high-growth regions, and drivers, restraints, opportunities, and challenges in the HVAC filters market.

The report provides insights on the following:

Market Penetration: Comprehensive information on various raw materials and processes of HVAC filters offered by top players operating in the market
Product Development/Innovation: Detailed insights into upcoming developments in HVAC filters, R&D activities, and new applications in various end-use industries in the market
Market Development: Comprehensive information about lucrative and emerging markets across different regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the HVAC filters market
Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the HVAC filters market

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the HVAC Filters Market
4.2 HVAC Filters Market, By Material
4.3 HVAC Filters Market, By End-Use Industry and Technology

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for HVAC Systems
5.2.1.2 Growing Awareness About Indoor Air Quality
5.2.1.3 Government Regulations and Policies for Efficient Filtration
5.2.2 Restraints
5.2.2.1 Rising Environmental Concern
5.2.3 Opportunities
5.2.3.1 Increasing Investments in the Construction Sector
5.2.3.2 Technological Advancement in HVAC Filters
5.2.4 Challenges
5.2.4.1 Higher Cost and Maintenance of Efficient HVAC Filters
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry

6 HVAC Filters Market, By System
6.1 Introduction
6.2 Heat Pumps
6.3 Rooftop Units
6.4 Geothermal Heat Pumps
6.5 Packaged Air Conditioners
6.6 Spilt System HVAC
6.7 Ductless Systems
6.8 Hybrid HVAC Systems

7 HVAC Filters Market, By Material
7.1 Introduction
7.2 Synthetic Polymer
7.2.1 Properties Such as High Efficiency, Washability, and Longevity are Expected to Drive the Demand for Synthetic Polymers in the HVAC Filters Market
7.3 Fiberglass
7.3.1 Lower Cost, Dimensional Stability, Design Flexibility, and Excellent Electrical Properties are Anticipated to Increase the Demand for Fiberglass in the HVAC Filters Market
7.4 Carbon
7.4.1 Ability to Absorb Odors and Gases is Anticipated to Fuelthe Demand for Carbon in the HVAC Filters Market
7.5 Metal
7.5.1 Metal Filter Material Can Be Cleaned and Reused Making It Suitable for HVAC Systems

8 HVAC Filters Market, By Technology
8.1 Introduction
8.2 Electrostatic Precipitator
8.2.1 Low Pressure Drop and Washable Properties are Expected to Drive the Demand for Electrostatic Precipitators
8.3 HEPA
8.3.1 Rising Demand for Highly Efficient HVAC Filters in Pharmaceutical, Food & Beverage, and Semiconductor Industries
8.4 Activated Carbon
8.4.1 Increasing Demand for Odor, Gas, and Toxic Fumes Control Filters is Driving the Market for Activated Carbon Technology
8.5 Others
8.5.1 Increase in Demand From Several End-Use Industries is Expected to Propel the Market for Other Technologies

9 HVAC Filters Market, By End-Use Industry
9.1 Introduction
9.2 Building & Construction
9.2.1 Increasing Demand for Green Buildings and Awareness About Indoor Air Quality is Expected to Drive the Market
9.3 Pharmaceutical
9.3.1 Increase in Demand for High-Efficiency Filters for Critical Manufacturing Processes is Anticipated to Propel the Growth of the Market
9.4 Food & Beverage
9.4.1 Increase in Demand for Improved Air Quality in Food Processing Plants has Led to Increased Demand for HVAC Filters in the Food & Beverage Industry
9.5 Automotive
9.5.1 Increase in Vehicular Traffic and Air Pollution has Led to Growth in Demand for HVAC Filters in the Automotive End-Use Industry
9.6 Others
9.6.1 Increase in Demand for Thermal Comfort and Improved Indoor Quality is Anticipated to Drive the Market for HVAC Filters in Other End-Use Industries

10 HVAC Filters Market, By Region
10.1 Introduction
10.2 Asia Pacific
10.2.1 China
10.2.1.1 Rising Green Building Construction Activities Have Led to the Growth of the HVAC Filters Market in China
10.2.2 Japan
10.2.2.1 Increase in Demand for HVAC Systems in Various End-Use Industries has Led to the Market Growth in Japan
10.2.3 India
10.2.3.1 Increasing Commercial Construction Activities Have Led to the Growth in Demand for HVAC Filters in India
10.2.4 Indonesia
10.2.4.1 Increasing Construction Activities are Expected to Drive the Market in Indonesia
10.2.5 South Korea
10.2.5.1 Growing Food & Beverage Industry is Expected to Drive the Market in South Korea
10.2.6 Australia
10.2.6.1 Rising Demand for High-Efficiency HVAC Filters in Food & Beverage and Pharmaceutical Industries is Anticipated to Propel the Market in Australia
10.2.7 Rest of Asia Pacific
10.2.7.1 Rising Population, Rapid Urbanization, and Growing Industrialization are Expected to Drive the Market in the Rest of Asia Pacific
10.3 North America
10.3.1 US
10.3.1.1 Stringent Regulations and Technological Advancements are Expected Fuel the US HVAC Filters Market
10.3.2 Canada
10.3.2.1 Increase in Demand for Energy-Efficient HVAC Systems is Expected to Drive the Growth of the HVAC Filters Market in Canada
10.3.3 Mexico
10.3.3.1 Increase in Construction Activities and Pharmaceutical Production is Anticipated to Drive the Growth of the HVAC Filters Market in Mexico
10.4 Europe
10.4.1 Germany
10.4.1.1 Germany is Expected to Lead the Europe HVAC Filter Market During the Forecast Period
10.4.2 UK
10.4.2.1 Rise in the Building & Construction Industry is Expected to Fuel the Market for HVAC Filters in the UK
10.4.3 France
10.4.3.1 Rise in Demand From Food & Beverage End-Use Industry to Fuel the Market for HVAC Filters in France
10.4.4 Italy
10.4.4.1 Increase in Sales of Automotive Vehicles has Led to the Market Growth of HVAC Filters in Italy
10.4.5 Russia
10.4.5.1 Rise in Demand for Air Conditioners is Expected to Grow the HVAC Filters Market in Russia
10.4.6 Spain
10.4.6.1 Rapid Industrialization has Contributed to the Growth of the HVAC Filters Market in Spain
10.4.7 Rest of Europe
10.4.7.1 Growth of Various Industries is Anticipated to Drive the Demand for HVAC Filters in the Rest of Europe
10.5 Middle East & Africa
10.5.1 Saudi Arabia
10.5.1.1 Increasing Automotive Vehicle Sales are Anticipated to Propel the Market for HVAC Filters in Saudi Arabia
10.5.2 Egypt
10.5.2.1 Increasing Government Investments in Manufacturing Industries to Provide Improved Air Quality Have Led to A Demand for HVAC Filters in Egypt
10.5.3 UAE
10.5.3.1 Rise in Automotive Vehicle Sales is Projected to Drive the Market
10.5.4 Rest of Middle East & Africa
10.5.4.1 Increase in Government Initiatives and Awareness About the Use of Energy-Efficient HVAC Systems are Expected to Drive the Market in the Rest of Middle East & Africa
10.6 South America
10.6.1 Brazil
10.6.1.1 Increase in Demand for Pharmaceuticals Products and Automotive Vehicles is Expected to Propel the HVAC Filters Market in Brazil
10.6.2 Argentina
10.6.2.1 Increasing Demand for Food & Beverage Products is Anticipated to Drive the HVAC Filters Market in Argentina
10.6.3 Rest of South America
10.6.3.1 Growing Industries, Such as Food & Beverage and Building & Construction, are Projected to Drive the Rest of South America HVAC Filters Market 105

11 Competitive Landscape
11.1 Introduction
11.1.1 Visionaries
11.1.2 Innovators
11.1.3 Dynamic Differentiators
11.1.4 Emerging Companies
11.2 Strength of Product Portfolio
11.3 Business Strategy Excellence
11.4 Market Share of Key Players in the HVAC Filters Market, 2018

12 Company Profiles
12.1 3M Company
12.2 Parker Hannifin Corporation
12.3 Camfil AB
12.4 MANN+HUMMEL
12.5 American Air Filter Company, Inc.
12.6 Donaldson Company, Inc.
12.7 Ahlstrom-Munksj
12.8 Filtration Group Corporation
12.9 Freudenberg Group
12.10 Sogefi Group
12.11 GVS Group
12.12 Spectrum Filtration Pvt. Ltd.
12.13 Emirates Industrial Filters LLC
12.14 Koch Filter
12.15 Sandler AG
12.16 Troy Filters Ltd.
12.17 DHA Filter
12.18 General Filter Havak
12.19 Johns Manville
12.20 Hollingsworth & Vose
12.21 Other Players
12.21.1 Air Filters, Inc.
12.21.2 Tex-Air Filters
12.21.3 A-J Manufacturing
12.21.4 Filt Air Ltd.
12.21.5 Airsan Corporation

For more information about this report visit https://www.researchandmarkets.com/r/gkan6d

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