Asia Pacific Air Filtration Market size worth $6.6bn by 2023
Published Date: September 7, 2016 Authors: Kunal Ahuja
Asia Pacific Air Filtration Market size is expected to reach USD 6.65 billion by 2023; according to a new research report by Global Market Insights, Inc.
Positive outlook on automotive production coupled with favorable regulatory norms are expected to drive Asia pacific air filtration market share. Consumer shift towards adoption of electric vehicles on account of minimum maintenance cost, offers credible threat of substitution for automotive intake air filters. Technological advancements and the development of cost-effective solutions will favorably impact industry growth over the forecast timeframe.
Increasing R&D investments along with new product development will drive Asia Pacific air filtration market size. Surging demand across diverse range of industrial applications may surge growth. Manufacturers emphasize on developing energy efficient products and vertical integration as a part of their growth strategy. Presence of associations such as Car Care Council (CCC) and Environmental Protection Agency (EPA) has helped raise awareness regarding automotive emission hazards, giving impetus to the automotive segment.
Changing demographics, resource scarcity, rising environmental awareness and rapid urbanization will catapult demand from 2016 to 2023. Development of innovative filter media to meet energy efficiency requirement has given rise to new raw materials such as small fibers, which is further expected to provide avenues for business growth over the next seven years.
APAC air filtration market size is poised for growth owing to surging demand across numerous industries including cement, metal, pharmaceutical and power. The power sector is expected to witness substantial gains owing to growth in nuclear industry which plays a key role in defense power and power generation.
Browse key industry insights spread across 177 pages with 70 market data tables & 52 figures & charts from the report, “Asia Pacific Air Filtration Market Size By Product (Industrial [Dust Collectors, Mist Collectors, HEPA Filters, Baghouse Filters, Cartridge Collectors & Filters], Automotive [Intake Filters, Cabin Filters], Residential), By Application (Power, Food, Metals, Cement, Pharmaceuticals), Industry Analysis Report, Regional Outlook (China, India, Japan, South Korea, Australia, Thailand, Indonesia, Malaysia), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents:
Key insights from the report include:
- Industrial sector accounted for more than 27% of the Asia Pacific air filtration market share in 2015 and is estimated to grow at 9.5% CAGR owing to rising adoption in healthcare and laboratories facilities in order to control microbes and allergens.
- Mist collectors are set to witness growth due to increasing application across the food & beverage and metal processing industry.
- The benefits derived HEPA filtration technology include maintenance of high initial power output, greater machine availability and reliability, improved efficiency, zero production downtime, increased component life, and lower emissions. These products are ideal for situations that require high collection efficiency of submicron particulate matter, and are used in applications involving biological, chemical and radioactive particulate matter.
- Consumer shift towards replacement of automotive filters in order to minimize the emission of harmful gases will drive revenue.
- China air filtration market size will continue to represent the dominant regional segment in the coming years. This can be primarily attributed to the considerable automotive sector and presence of numerous industries across the region.
- APAC air filtration market share is characterized by intense competition with key players focusing on mergers & acquisitions to increase their revenue, which will result in consolidation. Major participants are Mann+Hummel, Cummins, Mahle, Camfil, Donaldson, and Clarcor. Mergers & acquisitions along with expansion of manufacturing activities form a part of manufacturers’ key growth strategies.
Global Market Insights has segmented the APAC air filtration market on the basis of product, application, and region:
- APAC Air Filtration Product Analysis (Revenue, USD Million, 2012 – 2023)
- Dust Collectors
- Mist Collectors
- HEPA Filters
- Baghouse Filters
- APAC Industrial Air Filtration Application Analysis (Revenue, USD Million, 2012 – 2023)
- APAC Air Filtration Regional Analysis (Revenue, USD Million, 2012 – 2023)
- South Korea