The global market for filters held a market value of $8,922.9 million, in 2014, and is expected to $1,3601.9 million by 2020, demonstrating a CAGR of 7.3% in the forecast period (2015 – 2020). Growing industrialization and rapidly increasing in automotive production are the two major factors driving the global filters market. Implementation of stringent emission regulations for automotive and industrial emissions are boosting the demand for the filters in those respective sectors. Moreover, the need of efficient filtration has increased the demand for advanced filters.
Asia Pacific is expected to dominate the global market by 2020 owing to the rapid increase in population and urbanization in the region. The rise in demand for HEPA filters, mist collectors, and cartridge and bag filters, is projected to serve as an opportunity in the forecast period. The negative growth in the sales of passenger cars in the key automotive market is one of the hurdle in the growth of the filters market. The global filters market witnessed consolidation in the recent times, which reflects by various acquisitions in the filters industry.
Leading filter manufacturers are aiming for product development and modification, involving advanced filters, in order to win a major chunk of the market due to increasing competition at global levels. Cummins had launched lube filters with its own polymeric nanotechnology-based synthetic media, Nanotech. This lube will be used in its filter engines and removes 98.7% of particles, which have a size of 12 microns. This kind of new product developments are expected to increase the growth of the market on a global scale over the coming years.
The filters market in a global level is highly consolidating with huge numbers of mergers & acquisitions. In 2015, four acquisitions took place, out of which, three belonged to MANN+HUMMEL. The major operating key players in the global market are Affinia Group Inc., MANN+HUMMEL, Cummins Inc., Donaldson Company Inc., CLARCOR Inc., Pall Corporation, Eaton Corporation Plc., and Parker Hannifin Corporation.
Explore Report with Detailed TOC at: https://www.psmarketresearch.com/market-analysis/industrial-and-automotive-filters-market
The information and data in the publication “Global Filters Market Size, Share, Development, Growth and Demand Forecast to 2020” represent the research and analysis of data from various primary and secondary sources. A bottom-up approach has been used to calculate the global filters market by country, segment, type, and distribution channel. P&S Intelligence analysts and consultants interact with leading companies of the concerned domain to substantiate every value of data presented in this report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
GLOBAL FILTERS MARKET BREAKDOWN
GLOBAL FILTERS MARKET BREAKDOWN BY GEOGRAPHY
North America Filters Market
Europe Filters Market
Asia-Pacific Filters Market
Rest of the World (RoW) Filters Market