From 2022 to 2032, the ring panel filters market is expected to grow at a moderate CAGR of 5.2%. The market is anticipated to increase in value from US$ 15 billion in 2022 to US$ 25 billion by 2032. The living standards of individuals around the world have noticeably increased along with an increase in disposable money. This has increased demand for ring panel filters, which has led to the market’s overall rise throughout the projected period.
Dust, grime, and other materials are removed using ring panel filters. Due to the many benefits that ring panel filters offer over conventional frame filters, these are chosen. These filters are made of three separate layers and have a large dust-collection capacity. The second layer is made up of strainers that stop unloading or streaming, while the first layer serves as a high porosity impingement filter. These filters are incredibly effective and last three times as long as disposable fibreglass filters. Commercial structures, manufacturing facilities, healthcare facilities, educational institutions, paint spray booths, and many other locations use ring panel filters.
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Another factor driving up demand for ring panel filters is rapid urbanisation. This is because more and more corporate offices and superstores need ring panel filters. In the upcoming years, increasing demand for air quality control solutions across various industries and applications would also support market expansion for ring panel filters.
The market for ring panel filters is rising as a result of increased consumer awareness of the advantages of using them, such as their high efficacy in eliminating particulates from air streams. The ring panel filters are further propelled by rising pollution levels, increased demand from the automotive industry, supportive government initiatives and legislation, and widespread use in areas like schools, colleges, and industrial locations.
Key Takeaways:
- The high maintenance cost of these filters will hinder the growth of the ring panel filters market.
- Increasing adoption in industrial plants will strengthen prospects for the ring panel filter market.
- North America will account for a significant portion of the ring panel filters market share owing to increasing demand for luxury automobiles.
- The ring panel filters market in Asia Pacific will record the highest growth rate due to rapid urbanization.
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Competitive Landscape
Air Filters, Inc., American Air Filter Company, Inc., Clarcor Industrial Air Inc., Donaldson Company, Inc., IF International Filtration, Bruce Air Filter Company, Delta Filtration Company, and Mann Hummel Group, among others, are some of the prominent players in the ring panel filters market profiled in the full version of the report.
In a fairly consolidated environment, key market players are concentrating on product development and the launch of new products. These enterprises also employ various strategic partnerships, mergers, acquisitions, joint ventures, and expansion tactics to gain a competitive edge.
More Insights Into Ring Panel Filters Market
FMI offers the latest, unbiased, and detailed analysis of the global ring panel filter market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of layer (2-ply ring panel filter, 3-ply ring panel filter, more than 3-ply ring panel filter), end-use (ring panel filter for commercial buildings, ring panel filter for industrial plants, ring panel filter for hospitals, ring panel filter for schools and universities, other end-uses), and region.
According to the reports, based on region, the ring panel filters market in North America will dominate the global marketplace. The target market in this region will account for a substantial share of the overall market. Rising demand for aftermarket services and customization for improved comfort, rising demand for luxury automobiles, the presence of a well-established healthcare sector, and high awareness regarding hygiene and safety standards are certain factors that aid the growth of the ring panel filter market in North America. Additionally, Asia Pacific will also exhibit notable growth with the highest growth rate in the ring panel filters market. Hence, significant contributions from Asia Pacific and North America will fuel the growth of the ring panel filters market.
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Key Segments Profiled in the Global Ring Panel Filters Industry Survey
Ring Panel Filters Market by Layer:
- 2-ply Ring Panel Filters
- 3-ply Ring Panel Filters
- More than 3-ply Ring Panel Filters
Ring Panel Filters Market by End Use:
- Ring Panel Filters for Commercial Buildings
- Ring Panel Filters for Industrial Plants
- Ring Panel Filters for Hospitals
- Ring Panel Filters for Schools & Universities
- Ring Panel Filters for Other End Uses (Paint Spray Booths, etc.))
Ring Panel Filters Market by Region:
- North America Ring Panel Filters Market
- Latin America Ring Panel Filters Market
- Europe Ring Panel Filters Market
- Asia Pacific Ring Panel Filters Market
- Middle East & Africa Ring Panel Filters Market
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