Lucintel anticipates that Asia Pacific and North America will be the fastest growing regions in the global filter market
According to a new market report published by Lucintel, the future of the global filter market looks promising with opportunities in the consumer, industrial, transportation, and utility industries. The global filter market is expected to reach an estimated $81.7 billion by 2022 and it is forecast to grow at a CAGR of 5.3% from 2017 to 2022.
The major drivers of growth for this market are changing stringent water and waste water regulations, increasing regulations for air emission from vehicles and manufacturing plants, rapid industrialization and globalization, and growth in the automotive production.
In this market, ICE (internal combustion engines) filters, air filters (HEPA/ULPA filter, mid/high performance filter, dust filter and bag filter), and fluid filters are some of the major segments of the filter market by product type.
On the basis of its comprehensive research, Lucintel forecasts that the ICE filter and air filter segments will show above average growth during the forecast period.
OEM and aftermarket are the major segments of the global filter market by end user and the OEM segment is expected to show above average growth during the forecast period.
APAC is expected to remain the largest market due to high vehicle production, rapid industrialization, and increasing investment by the industry players within the APAC region.
Asia Pacific and North America are expected to witness significant growth over the forecast period because of increasing awareness regarding clean emissions and favorable government policies.
Emerging trends, which have a direct impact on the dynamics of the industry, include the introduction of multi-filtration systems, introduction of the customized air filter concept, development of polyurethane-based adhesive filters, and the development of gasoline particulate filter technology. Mann+Hummel Holding GmbH, Parker Hannifin Corporation, Danaher Corporation, Mahle International GmbH, and Donaldson Company Inc.
are the major filter suppliers in the global filter market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global filter market by product type, application, end user, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Filter Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the global filter market by product type, application, end user, and region, as follows:
By Product Type ($ Billion from 2011 to 2022)
ICE Filter (Internal combustion engines)
Air Filter (HEPA/ULPA filter, mid/high performance filter, dust filter and bag filter)
By Application ($ Billion from 2011 to 2022)
By End User ($ Billion from 2011 to 2022)
By Region ($ Billion from 2011 to 2022)
o United Kingdom
o South Korea
The Rest of the World