Pleated filters market size to reach $14.9 bn by 2022
Published Date: March 7, 2016 Author: Global Market Insights, Inc.
Pleated filters market size is likely to be valued at USD 14.9 billion by 2022; as per a new research report by Global Market Insights, Inc. Growing need for energy conservation and low green house gases (GHG) emission devices is likely to drive demand. The market is also likely to be driven by consumer preference to install latest air conditioning systems in residential and commercial buildings. These filters also have significance in HVAC installation systems.
Air based pleated filters market share dominated the industry and accounted for more than 50% of the total demand in 2014. Growing importance of efficient equipments with for minimizing indoor contaminants is likely to drive air filters demand. Oil filters are likely to witness highest growth rates with an estimated CAGR of 7.5% up to 2022.
Stringent regulations by governing bodies such as EPA to curb air borne diseases are anticipated to drive pleated filters market size over the next seven years. Ensuring continuous & down-flow of particulate-free fluids in oil & gas exploration and production applications is anticipated to play a major role in increasing the demand. Preference of some substitute products to remove micro-particulates is likely to challenge pleated filters industry.
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Key report insights suggest:
- Global pleated filters market size was estimated 197.2 million units in 2014 and may register 326.0 million units by 2022 growing with an estimated CAGR of 6.5% from 2015 to 2022.
- Industrial applications dominated the overall demand and accounted for 41.9% of the total volume in 2014. Rapid industrialization in emerging economies such as Asia Pacific & Latin America coupled with increasing investments in expansion of cement and power industries is likely to drive demand for this application. Residential applications are likely to witness moderate growth rates at CAGR of 5.7% up to 2022.
- Asia Pacific dominated the regional market and accounted for 43.2% of the total volume in 2014 and is likely to witness highest gains up to 2022. Increasing flow of FDIs coupled with stringent regulations to curb air pollution is likely to drive regional demand.
- U.S. pleated filters market share is likely to witness moderate growth rate with an estimated CAGR of 3.2% up to 2022.
- The market is characterized being highly fragmented with presence of large number of domestic and international industry participants. Key companies include General Motors Company, 3M Company, Midwesco Filter Resources Inc, Donaldson Company Inc., Freudenberg & Company KG, Atlas Copco, Camfil AB and The Strainite companies. The market is also likely to increase the competition by attracting new industry participants.
Global Market Insights has segmented the pleated filters industry on the basis of product, application and region:
Pleated Filters Market Product Analysis (Revenue, USD Million, Volume, Million Units; 2012 – 2022)
- Air Filters
- Medium Efficiency Filters
- Food & Beverages Filters
- Oil Filters
Pleated Filters Market Application Analysis (Revenue, USD Million, Volume, Million Units; 2012 – 2022)
Pleated Filters Market Regional Analysis (Revenue, USD Million, Volume, Million Units; 2012 – 2022)
- North America
- Asia Pacific
- Middle East & Africa (MEA)
- Central & South America (CSA)