Portland, OR, June 08, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global HVAC filters market was pegged at $6.06 billion in 2020 and is estimated to hit $11.06 billion by 2028, registering a CAGR of 7.7% from 2021 to 2028. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Degradation of air quality and stringent government policies for maintaining indoor air quality (IAQ) in industrial spaces drive the growth of the global HVAC filters market. On the other hand, rise in necessity of frequent cleaning impedes the growth to some extent. However, rise in awareness toward hygiene maintenance is expected to create lucrative opportunities in the future.
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COVID-19 scenario-
- The outbreak of the pandemic has given way to more awareness regarding the maintenance of indoor air quality, thereby increasing the demand for HVAC filters across the world.
- This drift is most likely to continue post pandemic too.
The global HVAC filters market is analyzed across material, technology, application, and region. Based on material, the fiberglass segment contributed to more than one-third of the total market share in 2020 and is expected to rule the roost by the end of 2028. The synthetic polymer segment, on the other hand, would register the fastest CAGR of 8.9% throughout the forecast period.
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Based on technology, the HEPA segment accounted for nearly three-fifths of the total market revenue in 2020 and is projected to lead the trail by 2028. Simultaneously, the ionic filtration segment would cite the fastest CAGR of 9.7% during the forecast period.
Based on region, Asia-Pacific held the major share in 2020, generating more than one-third of the global HVAC filter market. Simultaneously, the market across LAMEA would showcase the fastest CAGR of 9.0% from 2021 to 2028. The other regions studied in the report include North America and Europe.
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Leading Players:
The key market players analyzed in the global HVAC filters market report include Parker-Hannifin Corporation, Sogefi Group, 3M Company, Camfil AB, Mann+Hummel, Filtration Group Corporation, American Air Filter Company, Inc., Donaldson Company, Inc., Ahlstrom-Munksjö, and Freudenberg Group. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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