Pleated filters find applications across the utility, commercial, residential, and industrial sectors.
Selbyville, DE -- (SBWIRE) -- 12/24/2018 -- Pleated filters find applications across the utility, commercial, residential, and industrial sectors. Pleated filters market revenue in the industrial sector, which was assessed at USD 3.5 billion in 2014, is forecast to experience an astounding surge over the years ahead. The product finds massive utilization in the power, metal, and cement industries. Large-scale industrialization in the developing regions of APAC and LATAM is expected to contribute remarkably towards the business growth.
Residential applications are foreseen to register considerable gains of 5.7% during the period between 2015 to 2022. Pleated filters industry size in the commercial sector is anticipated to grow at a CAGR of 6% over the coming five years, driven by the escalated product requirement in schools and offices.
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Pleated filters market size is likely to be valued at USD 14.9 billion by 2022; as per a new research report by Global Market Insights, Inc. Growing need for energy conservation and low green house gases (GHG) emission devices is likely to drive demand. The market is also likely to be driven by consumer preference to install latest air conditioning systems in residential and commercial buildings. These filters also have significance in HVAC installation systems.
Air based pleated filters market share dominated the industry and accounted for more than 50% of the total demand in 2014. Growing importance of efficient equipments with for minimizing indoor contaminants is likely to drive air filters demand. Oil filters are likely to witness highest growth rates with an estimated CAGR of 7.5% up to 2022.
Pleated Filters Market Product Analysis (Revenue, USD Million, Volume, Million Units; 2012 – 2022)
Medium Efficiency Filters
Food & Beverages Filters
Pleated Filters Market Application Analysis (Revenue, USD Million, Volume, Million Units; 2012 – 2022)
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Asia pacific pleated filters market, which collected a revenue of USD 3 billion in 2014, is projected to witness a noticeable surge over the next few years. Strict measures taken by the government to annihilate the air pollution will spur the growth. China, Japan, and India will drive the regional revenue. China pleated filters industry revenue, estimated at USD 1.1 billion in 2014, is expected to dominate the regional share.
U.S. pleated filters industry is slated to record a CAGR of 3.2% over the period of 2015-2022, stimulated by the implementation of strict legislations by regulatory authorities such as US EPA (United States Environmental Protection Agency) to reduce air-borne ailments.
Industrial applications dominated the overall demand and accounted for 41.9% of the total volume in 2014. Rapid industrialization in emerging economies such as Asia Pacific & Latin America coupled with increasing investments in expansion of cement and power industries is likely to drive demand for this application. Residential applications are likely to witness moderate growth rates at CAGR of 5.7% up to 2022.
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The market is characterized being highly fragmented with presence of large number of domestic and international industry participants. Key companies include General Motors Company, 3M Company, Midwesco Filter Resources Inc, Donaldson Company Inc., Freudenberg & Company KG, Atlas Copco, Camfil AB and The Strainite companies. The market is also likely to increase the competition by attracting new industry participants.