BURNABY, Canada, April 1, 2016 /PRNewswire/ --
Deteriorating indoor air quality, rising consumer awareness regarding airborne diseases coupled with implementation of stringent norms to drive global HEPA filters market
According to TechSci Research report "Global HEPA Filters Market By Application, By Region, Competition Forecast and Opportunities, 2011-2021", the global HEPA filters market is expected to reach US$ 2.7 billion in 2016. High Efficiency Particulate Air (HEPA) filters are filters with ability to trap dust mites, mold spores, pollen, animal dander, tobacco smoke in the air as well as bacteria, fungi and viruses that lead to lethargy, headaches, watery eyes, irritation and respiratory problems. On account of deteriorating indoor and outdoor air quality over the years and implementation of stringent government regulations for improving indoor air quality along with surging awareness about chronic lung diseases and respiratory infections, use of HEPA filters has been growing across the globe over the last five years. Global HEPA filters market is highly fragmented, with various global and regional players operating in the market. Camfil, AAF, Freudenberg and Donaldson are few of the major players operating in the global HEPA filters market.
With increasing penetration of air purifiers in residential as well as commercial sector, the HEPA filters market is projected to exhibit promising growth over the next five years. During 2011-2015, air purifiers segment has emerged as the largest as well as the fastest growing application area of HEPA filters. Global air purifiers market is projected to witness Y-o-Y growth of more than 14% in the coming years, thereby creating lucrative opportunities for HEPA filter manufactures.
Other major application area of HEPA filters is the global HVAC systems market. Rising population, growing housing sector, surging income levels in emerging markets, increasing focus on reliable energy resources and growing number of industrial units are some of the key drivers catalyzing the growth of global HVAC market, which is anticipated to cross USD128 billion revenue by 2020. Consequently, HVAC systems segment is expected to remain the second most dominant application area for HEPA filters market through 2021.
"Surging need for capacity expansions coupled with establishment of new manufacturing facilities is augmenting demand for HEPA filters in Asia-Pacific, owing to which the region accounted for the largest share in the global HEPA filters market in 2015. In addition, on account of depleting indoor air quality in major developing countries like India and China, demand for HEPA filters from the air purifiers industry is expected to witness robust growth in the coming years," said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Global HEPA Filters Market By Application, By Region, Competition Forecast and Opportunities, 2011-2021" has analyzed the potential of HEPA filters market provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges and opportunities available in global HEPA filters market.
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