HVAC Filters Market: Current Analysis and Forecast (2021-2027)
$4999 – $8699
Emphasis on Material (Fiberglass, Synthetic Polymer, Carbon, and Metal), Technology (HEPA, Electrostatic Precipitator, Activated Carbon, and Others), End-User (Residential, Non-Residential, and, Industrial); and Region/Country
HVAC filters (heating, ventilating, and air conditioning) are broad terms to describe different types of air filters in the HVAC field. HVAC filters are majorly used in a wide range of applications such in residential, industrial, and commercial places. These filters are used to keep the indoor system parts from being clogged with dust and other foreign elements. Factors such as increasing demand for HVAC systems, growing awareness about indoor air quality, and government regulations and policies for efficient filtration are driving the market size of HVAC filters. Furthermore, increasing investments in the construction sector and technological advancements in HVAC filters are expected to offer significant growth opportunities to manufacturers. As maintenance of indoor air quality (IAQ) plays a vital role in preserving the health and safety of occupants in residential areas and workspaces, where people spend the majority of their time. Also, increasing pollution levels, owing to elements such as vehicular traffic and industries have affected the overall air quality, which is affecting the health of people on a large scale accelerating the market size of the HVAC filters market.
The global HVAC Filter market is expected to register a CAGR of more than 7 % throughout 2021-2027. Factors such as increasing demand for HVAC systems, growing awareness about indoor air quality, and government regulations and policies for efficient filtration are driving the market size of HVAC filters. Furthermore, increasing investments in the construction sector and technological advancements in HVAC filters are expected to offer significant growth opportunities to manufacturers. As maintenance of indoor air quality (IAQ) plays a vital role in preserving the health and safety of occupants in residential areas and workspaces, where people spend the majority of their time. Also, increasing pollution levels, owing to elements such as vehicular traffic and industries have affected the overall air quality, which is affecting the health of people on a large scale accelerating the market size of the HVAC filters market.
in 3M, Spectrum Filtration Pvt. Ltd., Emirates Industrial Filters LLC, Freudenberg SE, Camfil AB, Filtration Group Corporation, Ahlstrom-Munksjö Oyj, Donaldson Company, Inc., American Air Filter Company, Inc., Parker-Hannifin Corporation are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Based on material, synthetic polymer segment accounted for the majority share in the market in 2020”
Based on the material, the HVAC Filter market is classified into fiberglass, synthetic polymer, carbon, and metal. The synthetic polymer segment caters to extensive market share in the HVAC Filter market. It is mainly owing to its comparatively lower costs than other materials, low maintenance, and easy availability of synthetic polymers. Moreover, they are reusable, which makes them durable and affordable for use in different industries.
“Amongst technology, HEPA segment is expected to witness highest CAGR during the forecast period”
Based on the technology, the HVAC Filter market is classified into HEPA, electrostatic precipitator, activated carbon, and others. The HEPA technology segment caters to extensive market share in the HVAC Filter market. HEPA technology consists of a filter that forces air through a thin mesh, which traps harmful particles such as pollens, molds, pet dander, bacteria, and dust mite debris to prevent them from entering the ambient environment.
“Based on end-user, an industrial segment expected to witness extensive CAGR during the forecast period”
Based on the end-user, the HVAC Filter market is segmented into residential, non-residential, and, industrial. The industrial segment acquired a considerable market share in the HVAC Filter market. The increased risk of health hazards caused due to abrasive and hard dust particles in the raw materials required for primary and secondary crushing, material transfer, and injection during construction and infrastructural development activities is propelling market demand.
“North America to witness significant growth during the forecast period”
North America is expected to hold an extensive share in the HVAC Filter market and is expected to grow at an influential rate in the forecasted period as well. It is mainly attributed to the demand for HVAC filters fostered by the increase in preventive measures undertaken by the American Government to overcome the challenges caused by air pollution from the manufacturing industries.
In North America, air pollution remains a serious health risk despite the large improvements in air quality that have been achieved by regulatory measures implemented under the Canadian Environmental Protection Act (CEPA) and the U.S. Clean Air Act (CAA). According to WHO 2018, 9% of the global deaths attributable to air pollution occurred in high-income countries, such as Canada or the United States of America. Moreover, the North American region is estimated to witness a notable share over the forecast period owing to the increasing adoption of heating systems in countries, such as Canada and some parts of the U.S., backed by the extremely cold climate in the region.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|1.4.||Currency used in Report|
|2.1.||Research Process of the HVAC Filter Market|
|2.2.||Research Methodology of the HVAC Filter Market|
|2.5.||Main Objective of the HVAC Filter Market Study|
|3. MARKET SYNOPSIS|
|5||GLOBAL HVAC FILTER MARKET COVID-19 IMPACT|
|6||GLOBAL HVAC FILTER MARKET REVENUE 2019-2027F|
|10.1.3.||Rest of North America|
|10.2.6.||Rest of Europe|
|10.3.5.||Rest of Asia Pacific|
|10.4.||Rest Of the World|
|12||HVAC FILTER MARKET OPPORTUNITIES|
|13||HVAC FILTER MARKET TRENDS|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|15||VALUE CHAIN ANALYSIS|
|16.1.1.||Porter’s Five Forces Analysis|
|17.2.||Spectrum Filtration Pvt. Ltd.|
|17.3.||Emirates Industrial Filters LLC|
|17.6.||Filtration Group Corporation|
|17.8.||Donaldson Company, Inc.|
|17.9.||American Air Filter Company Inc.|
Research Methodology for the Global HVAC Filter Market Analysis (2021-2027)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global HVAC Filter market were the three major steps undertaken to create and analyze the adoption of the HVAC Filter in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global HVAC Filter market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the HVAC Filter market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the HVAC Filter market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as material, technology, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the HVAC Filter market. Further, we conducted factor analysis using dependent and independent variables such as increasing pollution levels and growing concern regarding the degradation of air quality. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the HVAC Filter market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global HVAC Filter market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the HVAC Filter market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global HVAC Filter market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Primary research input was consolidated with secondary findings, turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global HVAC Filter market. Data was split into several segments & sub-segments post studying various parameters and trends in the material, technology, and end-user in the global HVAC Filter market.
The main objective of the Global HVAC Filter Market Study
The current & future market trends of the global HVAC Filter market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the HVAC Filter market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the material, technology, and end-user.
- Define and analysis of the regulatory framework for the HVAC Filter market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the HVAC Filter market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the world.
- Company profiles of the HVAC Filter market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry