Selbyville, Delaware, June 17, 2021 (GLOBE NEWSWIRE) --
Global Market Insights Inc. has recently added a new report on the residential filters market which estimates the market valuation for residential filters will cross US$ 4 billion by 2027. Rise in consumer awareness and high disposable income is driving air filter demand and anticipated to support the market growth. Additionally, growing awareness among consumers about side-effects associated with impure air further propel the product demand.
Electrostatic residential filters anticipated to show significant growth over 8% CAGR over the coming timeframe and is poised to reach USD 745 million by 2027. Electrostatic residential filters are anticipated to witness growth because of its advantages of washable and reusable filter. Additionally, electrostatic filter media undergoes charge process and attracts particles from environment due to which it offers benefits of cleansing and are used for several years.
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The product is widely used in residential air cleaning systems due to its ability to improve air quality by removal of indoor air pollutants should boost product demand. Furthermore, increasing demand for residential air filters owing to its use to improve air quality and maintaining good hygienic environment is anticipated to boost product demand in the forecasted period
North America is anticipated to reach over USD 900 Million with a growth rate of over 8.0% by the end of 2027. Increasing number of cases with respiratory disorders is anticipated to boost product demand. Smoking, genetic factors and infections are major factors responsible for respiratory disorders among individual. Demand for residential filters have increased in North America pertaining to its ability to purify air, improves the air quality in the environment and ensures clean and pure air breathing. In North America region air conditioning systems are a part of residential infrastructures such as building, hotels and singles family homes. Increase in number of new households along with adoption of smart home initiatives in the region is anticipated to boost product demand thereby accelerating residential filters market growth.
As per market analysis, some major findings of the residential filters market report include:
- Pleated residential filter witnessed high pace growth over 9.5% of CAGR in the coming timeframe due to rising air pollution around the worldwide. Additionally, the increasing manufacturing units owing to industrialization also support the product growth.
- MERV 6-10 efficiency residential filters projected to hold lucrative share in the global residential filters market. It is because of wide use of MERV 6-10 in pleated filters, rigid style box filters and other fillers.
- Single family application of residential filters holds the significant share more than 60% in the global residential filters market, as there is continuous rising human concern towards environment pollution around the worldwide.
- Major players in the residential filters market are focusing on strategic initiatives such as acquisitions and partnership with other key players and distributors to increase their global coverage and offering around the worldwide.
- Asia Pacific region holds a largest share in the global residential filters market about 35% and is expected to grow with highest CAGR over 9.0% pertaining to rising urbanization and presence of large population in the region.
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Report Content
Chapter 2 Executive Summary
2.1 Residential Filters industry 3600 synopsis, 2016 – 2027
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Type trends
2.1.4 Efficiency trends
2.1.5 Application trends
Chapter 3 Residential Filters Industry Insights
3.1 Industry Segmentation
3.2 Impact of COVID-19 on global economy
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.3.2 Distribution channel analysis
3.3.2.1 Collaborations/Partnerships
3.3.2.2 Distributors
3.3.3 Impact of COVID-19 on industry value chain
3.4 Regulatory landscape
3.4.1 U.S.
3.4.1.1 The U.S. Department of Energy
3.4.1.2 ASHRAE (The American Society of Heating, Refrigeration, and Air Conditioning Engineers)
3.4.2 Europe
3.4.3 China
3.5 Technology Landscape
3.6 Pricing analysis, COVID-19 Impact
3.6.1 Regional pricing
3.6.2 Cost structure analysis, 2020
3.6.3 Capital expenditure
3.6.4 Working capital
3.7 Industry best practices & key buying criteria
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.1.1 North America: Growing construction & infrastructural development
3.8.1.2 Europe: Increasing preference for energy efficient homes
3.8.1.3 Asia Pacific: Rising demand for air purifiers
3.8.2 Industry challenges & pitfalls
3.8.2.1 High efficiency filters may reduce air flow
3.9 Innovation & sustainability
3.9.1 Camfil Group
3.9.2 Freudenberg Group
3.10 Growth potential analysis, 2020
3.10.1 Emerging business model
3.10.1.1 Acquisitions and Partnerships
3.10.1.2 New product launch
3.11 Porter’s analysis
3.11.1 Bargaining power of suppliers
3.11.2 Bargaining power of buyers
3.11.3 Threat of new entrants
3.11.4 Threat of substitutes
3.12 Competitive landscape, 2020
3.12.1 Company market share analysis, 2020
3.12.2 Top players overview
3.12.3 Strategy dashboard
3.12.4 Impact of COVID-19 on consumer buying behavior
3.13 PESTEL analysis
3.14 Impact of COVID-19 on global residential filters demand, by application
3.14.1 Single family
3.14.2 Multi-family
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.