Pune, India, March 07, 2022 (GLOBE NEWSWIRE) -- The global residential filters market size hit USD 6.60 billion in 2020. The market value is predicted to increase from USD 7.06 billion in 2021 to USD 11.87 billion in 2028 at a CAGR of 7.7% during forecast duration. Increasing levels of air and water pollution and rising public awareness toward pollution will drive the market forward, states Fortune Business Insights™ in its report titled “Residential Filters Market, 2021-2028”.
Residential air filters are experiencing robust demand across the world due to growing health concerns arising from poor air quality. Air filters used in residential settings are made of various materials, including fiberglass and textiles. These filters can capture pollutants as little as 0.3 microns and as large as 10 microns. A residential water filter, on the other hand, is devised to remove suspended particles and other impurities from polluted water. Growing urbanization and residential expansion are surging the demand for residential filters.
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Global Players in the Residential Filters Market:
- Parker Hannifin (Ohio, U.S.)
- Mann Hummel (Ludwigsburg, Germany)
- Camfill AB (Stockholm, Sweden)
- Freudenberg Filtration Technologies SE & Co. KG (Baden-Wuerttemberg, Germany)
- Donaldson Company (Minneapolis, U.S.)
- Filtration Group (Illinois, U.S.)
- BWF Envirotec (Offingen, Germany)
- Purafil Inc (Georgia, U.S.)
- Nordic Air Filtration (Nakskov, Denmark)
- AAF International (Kentucky, U.S.)
- Universal Air Filter Company (UAF) (Illinois, U.S.)
- Spectrum Filtration Pvt Ltd (Kolkata, India)
- ACS Industries Inc. (Lincoln, U.S.)
- Koch Filter (Kentucky, U.S.)
- Smith Filter Corporation (Illinois, U.S.)
- Airclean Ltd (Tonbridge, U.K.)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 7.7% |
| 2028 Value Projection | USD 11.87 Billion |
| Base Year | 2020 |
| Residential Filters Market Size in 2020 | USD 6.60 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 120 |
| Segments covered | Product Type, Application and Geography |
| Residential Filters Market Growth Drivers | Increasing Urban Residential Development to Foster Market Growth |
| Asia Pacific to Dominate Market Share led by Rising Urbanization | |
| Rising Concerns Regarding Airborne Transmission of COVID-19 to Aid Growth |
COVID-19 Impact
Rising Concerns Regarding Airborne Transmission of COVID-19 to Aid Growth
Slowdown of the building & construction sector amid the COVID-19 pandemic due to delayed projects affected the residential filters market growth. Supply chain issues, workforce shortages, and several other factors led to the halt of ongoing construction projects and the postponement of new projects. On the contrary, increasing concerns regarding airborne transmission of COVID-19 infection has positively influenced the market dynamics. Rising concerns regarding air and water-borne diseases among consumers even after the pandemic will work in favor of the market growth.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
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Segments
Product Type, Application, and Region are Studied
By product type, the market is classified into air filter and water filter.
In terms of application, the market is segmented into single-family and multi-family.
Geographically, the market share is divided into North America, Europe, South America, the Middle East & Africa, and Asia Pacific.
Report Coverage
The report offers:
- Major growth drivers, restraints, opportunities, and potential challenges for the market.
- Comprehensive insights into global as well as regional developments.
- List of key industry players.
- Major strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints
Increasing Urban Residential Development to Foster Market Growth
Residential filters continue to experience growing demand as consumers become more aware of the harmful effects of polluted air and water on human health. With increased disposable income levels, consumers are investing in high-efficiency air and water filters for their homes. Growing urbanization and rising urban residential development present a lucrative opportunity for the market growth. The UN predicts that more than 70% of the world population will reside in urban areas by 2050. However, several functional disadvantages of filters could hamper their adoption in the future.
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Regional Insights
Asia Pacific to Dominate Market Share led by Rising Urbanization
Asia Pacific is expected to dominate the global residential filters market share during 2021-2028. In 2020, the regional market generated USD 2.22 billion. The technology adoption is driven by increasing consumer awareness regarding air and water pollution and growing expenditure of HVAC technologies. Rapid urbanization will aid the regional expansion significantly.
The market in North America is expanding due to robust economic development and favorable regulatory standards supporting environmental sustainability. Meanwhile, the market in Europe will witness notable growth led by the demand for air filters in cold countries, including Germany, Benelux, and Nordics countries.
Industry Development
October 2021 - Camfil Power Systems launched a new line of CamClose panel air filters with increased efficiency and longer life.
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Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19 on Residential Filters Market
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Residential Filters MarketShare Analysis, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
- 6.1. Overview
-
- Key Management
- Headquarters etc.
- Offerings/Business Segments
-
-
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Primary Interview Responses
- Annexure / Appendix
- Global Residential Filters Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
- By Product Type (USD Bn)
- Air Filter
- Water Filter
- By Application (USD Bn)
- Single Family
- Multi Family
- By Region (USD Bn)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- By Product Type (USD Bn)
- North America Residential Filters Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
- By Product Type (USD Bn)
- Air Filter
- Water Filter
- By Application (USD Bn)
- Single Family
- Multi Family
- By Country (USD Bn)
- U.S.
- By Product Type
- Air Filter
- Water Filter
- By Product Type
- Canada
- By Product Type
- Air Filter
- Water Filter
- By Product Type
- U.S.
- By Product Type (USD Bn)
- Europe Residential Filters Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
- By Product Type (USD Bn)
- Air Filter
- Water Filter
- By Application (USD Bn)
- Single Family
- Multi Family
- By Country (USD Bn)
- U.K.
- By Product Type
- Air Filter
- Water Filter
- By Product Type
- Germany
- By Product Type
- Air Filter
- Water Filter
- By Product Type
- France
-
- By Product Type
- Air Filter
- Water Filter
-
- Italy
- By Product Type
- Air Filter
- Water Filter
- By Product Type
- Rest of the Europe
- U.K.
- By Product Type (USD Bn)
- Global Residential Filters Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
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