Global HVAC Filters Market Is Expected to Reach $11.06
Portland, OR, June 8, 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 reach $11.06 billion in 2028, with a CAGR of 7.7% from 2021 to 2028. The report provides an in-depth analysis of key investment pockets, top winning strategies , drivers and opportunities, market size and estimates, competitive landscape and changing market trends.
Deterioration in air quality and strict government policies for maintaining indoor air quality (IAQ) in industrial spaces are driving the growth of the global HVAC filter market. On the other hand, the need for frequent cleaning somewhat hinders growth. However, increasing awareness of hygiene maintenance is expected to create lucrative opportunities in the future.
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- The outbreak of the pandemic has given way to increased awareness regarding maintaining indoor air quality, increasing the demand for HVAC filters around the world.
- This drift will most likely continue after the pandemic.
The global HVAC Filters market is analyzed on the basis of material, technology, application and region. On a material basis, the fiberglass segment contributed more than a third of the total market share in 2020 and is expected to prevail by the end of 2028. The synthetic polymer segment, on the other hand, should have the fastest CAGR of 8.9% over 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 expected to lead the way by 2028. At the same time, the ionic filtration segment is said to have the fastest CAGR of 9.7% during the forecast period.
By region, Asia-Pacific held the big contribution by 2020, accounting for more than a third of the global HVAC filter market. At the same time, the market in LAMEA is expected to show the fastest CAGR of 9.0% from 2021 to 2028. The other regions studied in the report are North America and Europe.
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Major 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-Munksjo and Freudenberg Group. These market players have adopted various strategies including partnership, expansion, collaboration, joint ventures and others to strengthen their position in the industry.
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