July 20, 2021
According to the recent research report titled ‘Residential Filters Market Size By Type, By Efficiency, By Applications (Single Family, Multi-family), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report LLC, global residential filters market is projected to record an appreciable growth rate over 2021-2027.
Growing emphasis of customers on access to cleaner indoor air, and surging demand for more effective air filters for residential settings are promulgating global residential filters market growth.
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Following the outbreak of COVID-19 pandemic, researchers discovered a direct correlation between prolonged exposure to air pollution and coronavirus mortality rate. Studies found that airborne viruses can spread infection, highlighting the importance of effective air purification systems that can remove pathogens and viruses from the air.
Furthermore, people were compelled to remain indoors owing to government-imposed lockdowns, boosting demand for optimal indoor air quality (IAQ), which would help prevent the spread of the novel coronavirus. This has encouraged academic and commercial research, boosting global residential filters industry outlook.
Based on type, carbon air filter segment was worth USD 495 million in 2020 and is expected to record 7% CAGR over the assessment period. Meanwhile, pocket segment is projected to register 6.7% CAGR through 2027.
As per efficiency gamut, MERV 1-4 segment share is predicted to be evaluated at USD 958.56 million by the end of the forecast period, recording a CAGR of 7.9% throughout. While, MERV 14-16 segment is expected to generate revenues worth USD 10.98 million between 2021 and 2027.
Geographically, LATAM residential filters industry is projected to be remunerated at USD 230.1 million by 2027. On the other hand, Middle East & Africa market is anticipated to bolster at 5.9% CAGR in the analysis period, attributable to growing emphasis of domestic manufacturers on product innovation. Further, companies across the region are offering novel filter technologies to meet customer demands.
In fact, in June 2020, Awal Gulf Manufacturing, a renowned HVACR manufacturer based in Bahrain, unveiled the PEARL, an innovative air purifying device. The portable multi-layered high-efficiency HEPA filters used in the PEARL air purifier can eliminate bacteria and viruses from the air. The purifier system also makes use of cutting-edge UV-C technology to thoroughly purify the air indoors. It improves lung protection by destroying 99.999% of viruses and infections in the air.
Key players impacting global residential filters market trends are Airclean Ltd., Smith Filter Corporation, Koch Filter Corporation, Tex-Air Filters, United Filter Industries Pvt. Ltd., Universal Air Filter Company (UAF), BWF Group, Spectrum Filtration Pvt Ltd., Nordic Air Filtration, Freudenberg Filtration Technologies SE & Co. KG, Camfil AB, Parker Hannifin Corporation, and AAF International among others.