HVAC Filters Market 2024: Global Industry Size, Share, Growth, Trends and Forecast
Category: #world  By Rahul Varpe  Date: 2020-04-29
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HVAC Filters Market 2024: Global Industry Size, Share, Growth, Trends and Forecast

HVAC Filters Market share was valued at USD 8 billion in the year 2017 and is projected to surpass a revenue of USD 13 billion by the year 2024. Improving standard of living and increasing demand for energy-efficient air purification will contribute to HVAC filters market growth. This can be credited to substantial efforts taken by manufacturers and regulatory authorities. Growing innovation measures have also led to the development of cost-effective systems, which may open avenues for players and escalate product demand.

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Availability of improved product offering which also facilitates cooling, heating and humidity control in infrastructural facility will promote its application in residential and commercial building, thus propelling industry growth. Rising customer awareness and inclination towards high indoor air quality due to their low toxicity, and environment pollution should drive product demand.

Germany HVAC filters market is anticipated to exceed USD 715 million by 2024 owing to presence of various pharmaceutical and food & beverage manufacturers. Extension in product portfolio and R&D initiatives by several manufacturers will develop industry growth. Growing per capita income with government support for clean air should further strengthen regional industry growth.

Stringent environmental guidelines by agencies including FDA, EPA and EU on restricting use of refrigerant, nitrogen oxide, sulphur oxide, and ammonia would drive HVAC filters demand in the predicted timeframe. The product is combined with air conditioners to eliminate impurities from air including fine particulate matter, dirt dust particles, and pollens.

High cost required in installation and maintenance of these systems are expected to hamper HVAC filters industry profitability. Maintenance and cleaning of product is laborious due to numerous layers of filter medium that are detached and cleaned separately, hindering the HVAC filters market price trends.

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HVAC filters market from construction may observe significant gains up to 4% by 2024. There has been an escalating demand for purification solutions in construction industry. These systems collect dust and avoid dust emissions at multiple stages including primary & secondary crushing and material transfer. The construction industry is expected to grow substantially owing to the multiple infrastructural development projects globally, which would positively impact market share.

Electrostatic HVAC filters market is anticipated to surpass USD 1.5 billion by 2024. Static electricity entices dirt & dust to vertical and overhead surfaces. Electrostatic filter puts a static electrical charge on all particles present in air that pass-through filter media. This system uses a con?guration of woven fabric and anti-microbial foam core which prevents bacteria and mold growth, hence stimulating market growth.

HVAC filters market is moderately fragmented and highly competitive with major industry players including Koch, Tex-Air, Spectrum Filtration, Parker Hannifin Corp, Troy, AAF, Camfil, and Emirates Industrial. Companies are investing heavily in R&D, capacity expansion, and product innovation for growing product demand.

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About Author

Rahul Varpe

Email: [email protected]   

Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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