Residential Filters Market Size

Residential Filters Market Size

Residential Filters Market size exceeded USD 2 billion in 2020 and is estimated to grow at over 8% CAGR between 2021 and 2027. Increasing industrialization worldwide led to cause enormous environmental pollution. Automotive industry is also one of the major pollutions producing sector. Wherein 28% of total U.S. greenhouse gas emissions are caused by transportation and making it one of the largest causes of U.S. GHG emissions.

The COVID-19 outbreak has significantly weakened the supply chains and disrupted consumer demand owing to lockdowns & growing unemployment. Countries imposed stringent border restrictions to reduce the transmission of the virus which resulted in logistical challenges for optimal supply & distribution of residential filters. Companies are postponing the development of facilities for the production of filters such as pleated filters, to reduce capital expenditure amidst weakening economic conditions which may hamper residential production in the short to medium time frame. 
 

The temporary closure of manufacturing plants or operations at reduced staff strength in China, Japan and Malaysia and many other countries along with freight restrictions has further weakened the availability of imports in early 2020. However, after the 3rd quarter of 2020, the market has rapidly gained traction.
 

Major factors hindering the residential filters market growth is higher efficiency filters with a higher MERV rating result in added air flow resistance, which in turn reduces air flow for PSC blowers and increased blower power for BPM blowers. The system pressure changes also result in changes in duct leakages. Reduced system air flow in supply ducts results in reduction of the pressures across supply duct leaks and decrease in duct leakage. Reduced system air flow normally culminates in an increase in the return duct leakage, ultimately resulting in lower air conditioner efficiencies which may hinder the industry demand.