Asia Pacific Air Filtration Market size is expected to reach USD 6.65 billion by 2023.
Selbyville, DE -- (SBWIRE) -- 12/11/2018 -- Industrial sector accounted for more than 27% of the Asia Pacific air filtration market share in 2015 and is estimated to grow at 9.5% CAGR owing to rising adoption in healthcare and laboratories facilities in order to control microbes and allergens.
Asia Pacific Air Filtration Market size is expected to reach USD 6.65 billion by 2023. Positive outlook on automotive production coupled with favorable regulatory norms are expected to drive Asia pacific air filtration market share. Consumer shift towards adoption of electric vehicles on account of minimum maintenance cost, offers credible threat of substitution for automotive intake air filters.
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Increasing R&D investments along with new product development will drive Asia Pacific air filtration market size. Surging demand across diverse range of industrial applications may surge growth. Manufacturers emphasize on developing energy efficient products and vertical integration as a part of their growth strategy. Presence of associations such as Car Care Council (CCC) and Environmental Protection Agency (EPA) has helped raise awareness regarding automotive emission hazards, giving impetus to the automotive segment.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
Cummins Filtration Inc.
Donaldson Company Inc.
Freudenberg Filtration Technologies
K&N Engineering Inc.
KAYSER FILTERTECH GmbH
Nordic Air Filtration
Parker Hannifin Corp.
L. Gore & Associates
Changing demographics, resource scarcity, rising environmental awareness and rapid urbanization will catapult demand from 2016 to 2023. Development of innovative filter media to meet energy efficiency requirement has given rise to new raw materials such as small fibers, which is further expected to provide avenues for business growth over the next seven years.
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APAC air filtration market size is poised for growth owing to surging demand across numerous industries including cement, metal, pharmaceutical and power. The power sector is expected to witness substantial gains owing to growth in nuclear industry which plays a key role in defense power and power generation.
Mist collectors are set to witness growth due to increasing application across the food &beverage and metal processing industry.
The benefits derived HEPA filtration technology include maintenance of high initial power output, greater machine availability and reliability, improved efficiency, zero production downtime, increased component life, and lower emissions. These products are ideal for situations that require high collection efficiency of submicron particulate matter, and are used in applications involving biological, chemical and radioactive particulate matter.
Consumer shift towards replacement of automotive filters in order to minimize the emission of harmful gases will drive revenue.
China air filtration market size will continue to represent the dominant regional segment in the coming years. This can be primarily attributed to the considerable automotive sector and presence of numerous industries across the region.
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APAC air filtration market share is characterized by intense competition with key players focusing on mergers &acquisitions to increase their revenue, which will result in consolidation. Major participants are Mann+Hummel, Cummins, Mahle, Camfil, Donaldson, and Clarcor. Mergers &acquisitions along with expansion of manufacturing activities form a part of manufacturers' key growth strategies.