PUBLISHER: The Business Research Company | PRODUCT CODE: 1246158
PUBLISHER: The Business Research Company | PRODUCT CODE: 1246158
“Panel Filters Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on panel filters market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for panel filters? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The panel filters market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the panel filters market are: American Air Filter Company, Inc., Koch Filter, AFPRO, Filter Equipment Company, Inc., Camfil, Mikropor, Purolator Air Filters , MANN+HUMMEL, Parker Hannifin Corp, Donaldson Company, Inc. , Freudenberg Filtration Technologies GmbH & Co. KG, B&H INDUSTRIAL LLC, TFI FILTRATION (INDIA) PVT. Ltd., Filson Filters and Tex-Air Filters.
The global panel filters market grew from $5.3 billion in 2022 to $5.54 billion in 2023 at a compound annual growth rate (CAGR) of 4.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The panel filters market is expected to grow to $6.88 billion in 2027 at a CAGR of 5.6%.
The panel filters market consists of sales of pleated panel filter, washable filters, media filters, and HEPA filters. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Panel filters refer to air filters that filter out dust and other airborne impurities. They use a negative pressure system to clean particles ranging in size from 1 micron to 50 microns. In addition to preventing particle contamination of the engine oil, panel filters also protect mechanical components from wear and tear brought on by particle abrasion.
Asia-Pacific was the largest region in the panel filters market in 2022. The regions covered in the panel filters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of panel filters include disposable panel filters and reusable panel filters. Disposable panel filters are meant to be replaced after it has been damaged and are used as the main filters in HVAC and air conditioning systems. The different panel filters materials include fiberglass, synthetic and other materials for applications in residential and non-residential purposes.
The deteriorating air quality levels is expected to propel the growth of the panel filters market going forward. A building's interior and exterior air quality is referred to as its indoor air quality. Contaminants found in indoor air include dust, pollen, fibers, metal or wood particles, hair and animal fur, bacteria, and microorganisms. In addition to causing headaches, dizziness, and fatigue, these contaminants have a negative impact on health by irritating the eyes, nose, and throat. Panel filters are used for the purpose of purifying the air of a workspace or home by preventing air pollution For instance, in March 2022, according to a report published by IQAir, a Switzerland-based air quality technology company, Mumbai had a Particulate Matter (PM) 2.5 annual average of 46.4 microgram/cubic metre in 2021, which was nearly nine times the WHO limit. Therefore, the deteriorating air quality levels is driving the growth of the panel filters market.
Innovations and developments of new products for residential and commercial applications is the key trend gaining popularity in the panel filters market. Major companies operating in the market are developing innovative products to offer filter designs, higher performance air filtration media, overall system design and also increased degrees of separation to satisfy more and more advanced industrial processes. For instance, in October 2021, Camfil, a Sweden-based developer and producer of air filters and clean air products, introduced CamClose, a new generation of panel filters. The CamClose is a panel air filter created to increase the lifespan of the final filter. The overall filtration effectiveness is increased by placing the CamClose pre-filter in front of a final filter. The CamClose pre-filter's features will make installation easier, boost filtration effectiveness, and provide superior defence in damp environments.
In January 2021, Filtration Group Corporation, a Germany-based manufacturer of filtration products and systems, acquired AFPRO Filters for an undisclosed amount. With the acquisition, the vertically integrated production capabilities of AFPRO will enable Filtration Group to strengthen its portfolio of top-notch filtration solutions for its clients and increase its global presence. AFPRO, is a Netherlands-based company focused on designing, manufacturing, fabrication, and distributing of filtration products.
The countries covered in the panel filters market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The panel filters market research report is one of a series of new reports from The Business Research Company that provides panel filters market statistics, including panel filters industry global market size, regional shares, competitors with a panel filters market share, detailed panel filters market segments, market trends and opportunities, and any further data you may need to thrive in the panel filters industry. This panel filters market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.