HVAC Filters Market Analysis | 2023-2028

HVAC Filters Market Analysis | 2023-2028

HVAC Filters Market Analysis | 2023-2028
Report code - SRCE193 Delivery - 2 Weeks
HVAC Filters Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2 See more...

Market Insights

The HVAC filters market was estimated at USD 3.76 billion in 2022 and is likely to grow at a CAGR of 4.98% during 2023-2028 to reach USD 5.05 billion in 2028.

HVAC-Filters-Market-Insights

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Market Dynamics

Introduction

HVAC filters are types of air filters used to keep the indoor system parts from being clogged with dust and other foreign materials. They are used to improve indoor air quality along with that they serve the purpose of extending the life of HVAC systems.

HVAC filters play a crucial role in maintaining air quality in commercial and residential buildings. Primary materials used in the manufacturing of HVAC systems are synthetic polymers, fiberglass, carbon, and metals. On the basis of technology type, HVAC filters can be categorized into electrostatic precipitators, HEPA, activated carbon, and others. HVAC filters find application in industries, such as building & construction, pharmaceutical, food & beverage, automotive, and others.

Market Drivers

The major factors driving the growth of the HVAC filters market are:

  • Increasing demand for HVAC systems.
  • Stringent government regulations for efficient filtration.
  • Growing awareness about indoor air quality, expanding the construction sector, and technological advancements in HVAC filters.

HVAC-Filters-Market-Dynamics

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Key Players

Some of the major suppliers of HVAC filters are:

  • Camfil Group
  • MANN+HUMMEL Group
  • Donaldson Company Inc.
  • Filtration Group Corporation
  • Koch Filter
  • The 3M Company
  • Parker-Hannifin Corporation
  • Ahlstrom-Munksjö Oyj
  • American Air Filter Company, Inc.
  • Freudenberg Group

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

Segmentations

List of Sub-Segments

Segments with High Growth Opportunity

Material Type Analysis

Fiberglass, Synthetic Polymer, Carbon, and Metal

The synthetic polymer material type held the largest share of the market in 2022 and is expected to remain dominant during the forecast period.

End-Use Industry Type Analysis

Building & Construction, Pharmaceutical, Food & Beverage, Automotive, Others

The building & construction segment is estimated to account for the largest share of the market during the forecast period.

Technology Type Analysis

Electrostatic Precipitator, HEPA, Activated Carbon, and Others

The HEPA segment holds the largest share of the market and is also expected to witness healthy growth during the forecast period.

Regional Analysis

North America, Europe, Asia-Pacific, and Rest of the World

Asia-Pacific is estimated to be the largest as well as the fastest-growing market during the forecast period.

By Material Type

Based on the material type, the market is segmented as fiberglass, synthetic polymer, carbon, and metal. The synthetic polymer material type held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. Synthetic polymers (such as PTFE, PE, PP, and Polyester) are used in the form of stretched films which increase the surface area, leading to more efficient capturing of airborne particles in HVAC systems. This is the major factor driving the demand for synthetic polymers in the market.

By End-Use Industry Type

Based on the end-use industry type, the market is segmented as building & construction, pharmaceutical, food & beverage, automotive, and others. The building & construction segment is estimated to account for the largest share of the market during the forecast period. The segment’s growth is driven by residential and commercial buildings, which majorly use HVAC systems for thermal comfort and superior indoor air quality. In addition, the growth is primarily attributed to the mounting demand for green buildings and awareness about indoor air quality as HVAC filters help in enhancing indoor air quality.

By Technology Type

Based on the technology type, the market is segmented as electrostatic precipitators, HEPA, activated carbon, and others. The HEPA segment holds the largest share of the market and is also expected to witness healthy growth during the forecast period. Strong demand from industries such as buildings & construction, pharmaceuticals, food & beverages, and electrical & electronics, owing to its capability to trap 99.97% of dust particles that are 0.3 microns or larger in size, are the major factors behind its dominance in the market.

Regional Insights

In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities. The growth of the market is majorly driven by significant economic development in the regions, the rapidly expanding construction industry, rising global warming, and growing awareness among consumers. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

HVAC-Filters-Market-Regional-Insights

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Research Methodology

  • This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects HVAC filters market realities and future market possibilities for the forecast period.
  • The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
  • The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
  • This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
  • More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
  • We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis.
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
  • Market trend and forecast analysis.
  • Market segment trend and forecast.
  • Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
  • COVID-19 impact and its recovery curve
  • Attractive market segments and associated growth opportunities.
  • Emerging trends.
  • Strategic growth opportunities for the existing and new players.
  • Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The HVAC filters market is segmented into the following categories:

By Material Type

  • Synthetic Polymer
  • Fiberglass
  • Carbon
  • Metal

By Technology Type

  • Electrostatic Precipitator
  • HEPA
  • Activated Carbon
  • Others

By End-Use Industry Type

  • Building & Construction
  • Pharmaceutical
  • Food & Beverage
  • Automotive
  • Others

By Region

  • North America (Country Analysis: the USA, Canada, and Mexico)
  • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
  • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
  • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

HVAC-Filters-Market-Segmentation

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

  • Detailed profiling of additional market players (up to 3 players)
  • SWOT analysis of key players (up to 3 players)

Market Segmentation

  • Current market segmentation of any one of the end-use industry types by technology type.

Competitive Benchmarking

  • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

Frequently Asked Questions (FAQs)

HVAC filters are types of air filters used to keep the indoor system parts from being clogged with dust and other foreign materials. They are used to improve indoor air quality along with that they serve the purpose of extending the life of HVAC systems.

The HVAC filters market was estimated at USD 3.76 billion in 2022.

The HVAC filters market is likely to reach USD 5.05 billion in 2028.

The HVAC filters market is likely to grow at a CAGR of 4.98% during 2023-2028.

Camfil Group, MANN+HUMMEL Group, Donaldson Company Inc., Filtration Group Corporation, Koch Filter, The 3M Company, Parker-Hannifin Corporation, Ahlstrom-Munksjö Oyj, American Air Filter Company, Inc., and Freudenberg Group.

Asia-Pacific is expected to hold the largest share of the market.

The synthetic polymer material type held the largest share of the market in 2022 and is expected to remain dominant during the forecast period.

The prime factors that are driving the market are Increasing demand for HVAC systems, Stringent government regulations for efficient filtration, Growing awareness about indoor air quality, expanding the construction sector, and technological advancements in the HVAC filters.