The air filters market size is expected to increase from US$ 16.53 billion in 2023 to US$ 30.33 billion by 2033, at a CAGR of 6.26%.
The primary driver of the market is the increasing awareness of the health hazards associated with air pollution, which is responsible for over 7 million premature deaths worldwide each year.
Regulatory initiatives aimed at improving air quality are also driving the market, with many countries implementing stricter regulations on air quality, which has led to increased demand for air filtration systems.
The types of air filters available in the market include HEPA filters, activated carbon filters, electrostatic filters, UV-C filters, and others. HEPA filters are the type of filter that is extensively used, as they can remove particles as small as 0.3 microns with high efficiency. In 2022, the HEPA segment acquired a prominent share of the industry, accounting for 40.3% of global revenue.
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Air purifiers are used in schools, malls, conference centers, workplaces, hospitals, hotels, theaters, and other commercial settings such as recreation centers and amusement parks.
Rising urban air pollution levels pose challenges for local governments. As more than 70% of the millennial population works indoors, an increase in cases of fine dust and infectious disease has been noticed.
This growth is due to increasing pollution levels and rising demand for air filters in residential and commercial areas, with further expansion expected as public awareness of the health risks associated with air pollution increases.
However, technological limitations to the air filters combined with low awareness among the population may act as a barrier to market expansion. Nevertheless, rigorous research and development activities with constant support from regulatory authorities are more likely to liquidate these challenges.
Key Takeaways
- Dust collectors are gaining ground and are anticipated to account for more than 28% of revenue in 2022 due to their ability to control air quality.
- MIS collectors, baghouse filters, and cartridge filters are expected to support market expansion in addition to having a sizable air filter market share.
- In 2022, the commercial segment took control of the sector, accounting for 57.0% of global revenue.
- The North American air filter market is expected to be worth US$ 9.63 billion by 2033, at a CAGR of 6.3% during the forecast period.
- The European market is expected to record a consistent revenue CAGR of 6.4%.
- FMI predicts that the India air filter market is likely to record a CAGR of 11.97% during the forecast period and is likely to reach a market valuation of US$ 1,966.71 million by 2033.
Competitive Landscape
Prominent key players are focusing on acquiring mid-sized companies to expand their global presence. For example, Daikin Industries, Ltd. subsidiaries AAF and Nippon Muki Co. Ltd. are focusing on developing product portfolios for applications in engineering fields, factories, and buildings, among others. Furthermore, market participants are focused on producing effective filters at low manufacturing costs.
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Recent Developments
- PURAFIL, INC. installed ‘PuraShield Smart 1000 portable filtration systems’ in September 2020 to improve indoor air hygiene at Northwestern University Athletics & Recreation. It is a multi-stage original filtration solution that removes nearly 99.99% of aerosols from the air, including bacteria and viruses.
- MANN+HUMMEL and its subsidiary Tri-Dim Filter Corporation began supplying HEPA Filters in Ford respirators in April 2020. Germs, microbiological contamination, and viruses are reliably removed from the supply air by these H13 HEPA Filters.
Key Segments Covered in the Market Report
By Type:
- Cartridge filters
- Dust collector
- HEPA filters
- Baghouse filters
- Others (Mist filters)
By End User:
- Residential
- Commercial
- Industrial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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