Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWS· October 30, 2020: Freudenberg to manufacture special filtration solutions to reduce the risk of infection indoor and in vehicles.
· August 18, 2020: Filtration Group to increase the production of ventilator filters fifteen times more than its pre-COVID level.
The global HVAC filters market is estimated to garner a substantial revenue by growing at a CAGR of ~7% over the forecast period, i.e., 2022–2030. The growth of the market can be attributed to the increasing application of HVAC systems at homes, and commercial places, backed by the rising global temperature. Moreover, increasing awareness among people, about the quality of air is estimated to up-surge the demand for HVAC filters. These filters can filter dander, hair, mold spores, and dust, among other particles, depending on the type of filters. High level of pollution in developing countries, is also one of the major growth factors for the HVAC filters market. According to the data by the World Health Organization, every year, over 7 million deaths are caused by air pollution. Moreover, 9 out of 10 people in the world are breathing dangerous air, which exceeds the unsafe standards of WHO.
The global HVAC filters market is segmented by material into fiberglass, synthetic polymer, carbon derivatives, metals, and others, out of which, the synthetic polymer segment is anticipated to hold the largest share in the market during the forecast period on account of comparatively lower costs, low maintenance, and easy availability of synthetic polymers. On the basis of end-user, the market is segmented into residential, commercial, and others, out of which, the commercial segment is estimated to garner the highest CAGR over the forecast period, owing to the increasing use of heating, ventilation, and air conditioning systems in large commercial spaces, such as, offices, shopping malls, and others.CLICK TO DOWNLOAD SAMPLE REPORT
Regionally, the global HVAC filters market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to garner the largest share over the forecast period on the back of high level of pollution, and poor air quality index in developing countries, including, China, India, and Vietnam. India and China are the most polluted countries in the world. The average annual PM 2.5 concentration in India was 58.1 micrograms per cubic meter, in 2019. The average Air Quality Index (AQI) of New Delhi is above 195, while the same for Sichuan is 152.
The market in the North America region is estimated to witness notable share over the forecast period owing to the increasing adoption of heating systems in countries, such as Canada and some parts of the U.S., backed by the extremely cold climate in the region.
The global HVAC filters market is further classified on the basis of region as follows:
Our in-depth analysis of the global HVAC filters market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing awareness for indoor air quality among the masses is a major factor driving the market growth.
The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022-2030.
Requirement of maintenance for filters is one of the factors estimated to hamper the market growth.
The market in Asia Pacific is estimated to provide most growth opportunities owing to the high pollution level in developing nations, and growing awareness among people in the region.
The major players in the market are Freudenberg SE, Camfil AB, Filtration Group Corporation, Ahlstrom-Munksjö Oyj, Donaldson Company, Inc., American Air Filter Company, Inc., Parker-Hannifin Corporation, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by material, filter type, end-user, and by region.
The commercial segment is anticipated to hold largest market share over the forecast period owing to the increasing application of HVAC systems in offices, and other commercial areas.
Related Reports
Disclaimer | Privacy Policy | Terms & Conditions
Copyright © 2021 Research Nester. All Rights Reserved
