September 20, 2019
Worldwide HVAC filters market is anticipated to surpass US $13 billion by the year 2024, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2024.
Rising demand for energy efficient air purification and improved standard of living is contributing to HVAC filters market growth. Significant efforts taken by regulatory authorities and manufacturers have led to the development of cost-effective and innovative systems, which will further augment the market outlook.
As per the report, availability of enhanced product which facilitates heating, humidity and cooling control in infrastructural facility will promote the application HVAC filters in commercial and residential buildings, thus boosting the market growth. Growing customer awareness regarding the need for superior indoor air quality, rising inclination towards product adoption for its low toxicity, and environmental concerns will stimulate product demand.
Based on product type, electrostatic HVAC filters market is projected to exceed US $1.5 billion by the year 2024. Static electricity attracts dust and dirt to overhead and vertical surfaces. Electrostatic filter sets static electrical charge on all particles in air that pass through the filter. This system utilizes a configuration of anti-microbial foam and woven fabric which prevents mold growth and bacteria, hence triggering the market growth.
Speaking of the industrial application spectrum, HVAC filters market from construction segment is expected to gain up to 4% growth over the analysis period. The system gathers dust and reduces dust emissions at multiple stages such as material transfer and primary & secondary crushing. Increase in the number of construction projects, along with rising demand for purification systems on the sites will foster the segmental growth.
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Considering the regional outlook, Germany HVAC filters market is projected to surpass US $715 million by the year 2024, due to the presence of numerous food & beverage and pharmaceutical manufacturers in the region. Manufacturers are undertaking R&D activities and focusing on expanding their product portfolio, thereby driving the regional market growth.
The prominent companies in HVAC filters market include Emirates Industrial, Koch, Camfil, Tex-Air, AAF, Spectrum Filtration, Troy, and Hannifin Corp among others.