The HVAC filters market is estimated to be USD 6.0 billion in 2019 and is projected to reach USD 7.7 billion by 2024, at a CAGR of 5.1% from 2019 to2024. The key factors driving the growth of this market include increasing demand for HVAC systems, growing awareness about indoor air quality, and stringent government regulations for efficient filtration. Further, increasing investments in the construction sector and technological advancements in HVAC filters are expected to fuel the demand for HVAC filters during the forecast period.
Synthetic polymer segment projected to lead the HVAC filters market during the forecast period
By material, the synthetic polymer segment is estimated to account for the largest share of the HVAC filters market in 2019. Synthetic polymer HVAC filters are manufactured using synthetic polymer fibers such as polytetrafluoroethylene (PTFE), polyethylene (PE), polypropylene (PP), and polyester. Synthetic polymer filter materials are available in the form of pleats or stretched films, which are either made from the spunbond or melt-blown manufacturing process. The pleats increase the surface area and make the filters more efficient at capturing airborne particles in the HVAC systems, due to which the demand for synthetic polymer materials is expected to grow during the forecast period.
HEPA segment projected to lead the HVAC filters market during the forecast period
By technology, the HEPA segment is estimated to account for the largest share of the HVAC filters market in 2019. HEPA filters have the capability of trapping 99.97% dust particles that are 0.3 microns or larger in size. HEPA filters have diverse application areas, including residential buildings, pharmaceutical production, food & beverages, and clean rooms in the electronics & semiconductor industry, among others. Owing to its capability of providing improved indoor air quality, the demand for the HEPA filter technology is increasing in several industries.
Building & construction segment is estimated to have the largest share of the HVAC filters market in 2019
By end-use industry, the building & construction segment is anticipated to be the largest market for HVAC filters during the forecast period in terms of volume. The segment includes residential and commercial buildings, which majorly consume HVAC systems for thermal comfort and superior indoor air quality. The growth in this segment is mainly attributed to the increasing demand for green buildings and awareness about indoor air quality. HVAC filters help in increasing the indoor air quality.
Asia Pacific to lead the HVAC filters market during the forecast period
By region, the Asia Pacific HVAC filters market is projected to register the highest CAGR between 2019 and 2024 in terms of volume. The market growth in this region is mainly attributed to improved economic conditions of developing countries, increasing building and construction activities, and rising global warming. Further, the presence of various associations that support the adoption of efficient HVAC systems is expected to drive the market for HVAC filters in Asia Pacific during the forecast period.
Key Market Players
Camfil AB (Sweden), MANN+HUMMEL (Germany), Donaldson Company, Inc. (US), Filtration Group Corporation (US), Koch Filter (US), 3M Company (US), Parker Hannifin Corporation (US), Ahlstrom-Munksjö (Finland), American Air Filter Company, Inc. (US), and Freudenberg Group (Germany) are some of the major players in the HVAC filters market. These players have been focusing on developmental strategies such as acquisitions, new product launches, and partnerships to help them expand their businesses in untapped and potential markets. They have been adopting various organic and inorganic growth strategies to enhance their position in the HVAC filters market.
On the basis of material, the HVAC filters market is segmented as follows:
Fiberglass Synthetic Polymer Carbon Metal
On the basis of technology, the HVAC filters market is segmented as follows:
Electrostatic Precipitator HEPA Activated Carbon Others (UV Filtration and Ionic Filtration)
On the basis of end-use industry, the HVAC filters market is segmented as follows:
Building & Construction Pharmaceutical Food & Beverage Automotive Others (Electronics & Semiconductors and Livestock)
On the basis of region, the HVAC filters market is segmented as follows:
Asia Pacific North America Europe Middle East & Africa South America