Filters Market (By Product: Fluid Filters, ICE Filters, Air Filters; By Application: Motor Vehicle, Consumers Goods, Utilities, Industrial & Manufacturing) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 � 2030

The global filters market size was valued at USD 71.33 billion in 2021, and is predicted to be worth around USD 111.87 billion by 2030, registering a CAGR of 5.0% during the forecast period 2022 to 2030.

Growth Factors:

Growing demand from the automobile industry for the reduction of emission levels, owing to the regulations by several agencies, such as the U.S. Environment Protection Agency (EPA) and the Department of Energy, is expected to drive the market over the forecast period. The market is expected to witness significant growth owing to the rapid growth in the water and wastewater treatment industry. The governments across various developing countries are emphasizing the development of their water treatment infrastructures to provide safe water to their citizens for various purposes, such as drinking, sanitation, and cooking.

The increasing concerns regarding clean air are also anticipated to support the air filtration industry growth over the forecast period. Increasing disposable income levels, rapid urbanization, and growing health concerns have resulted in people investing significantly in air purifier systems for domestic use. This shift in consumer behavior is expected to positively impact the market growth over the forecast period. The industry has a large number of established players controlling a significant market share. Key players are focused on R&D activities for the development of new products and services to enhance their service offerings, thereby attaining business growth in the market.

Report Coverage

By Product Analysis

The ICE filters product segment led the market in 2021 and accounted for the maximum revenue share of more than 42%. This high share was credited to the rapid growth in the automobile industry as ICE filters are widely used in automobiles to improve fuel efficiency.

The implementation of environmental regulations, such as the Kyoto Protocol, Euro 5, and Euro 6 to control the release of harmful emissions, is expected to drive the segment further. The usage of ICE filters is expected to rise over the coming years owing to the high adoption of a start-stop system for automatic shutdown & restart of the internal combustion engines, to reduce the emissions & fuel consumption and idling time of engines.

The market growth for fluid filters is expected to be driven by the rising investments by governments in the construction of water treatment plants to provide safe water for various residential, commercial, and industrial applications. In addition, wide usage of fluid filters in a variety of other applications, such as cold sterilization of beverages & pharmaceuticals, petroleum refining, and dairy processing, is expected to support the segment growth.

By Application Analysis

The motor vehicles segment led the market in 2021 and accounted for more than 45% of the global revenue share. The increasing automotive production, primarily in countries, such as China, Indonesia, South Korea, Japan, Malaysia, and Taiwan, supports the segment growth. In addition, stringent regulations for the reduction of automotive pollution levels by agencies, such as the U.S. EPA and the Department of Energy, are expected to increase the usage of filters, thus driving the product demand in motor vehicles applications.

The manufacturing of portable air purifiers by several companies, such as Dyson and Philips, is expected to drive the consumer goods segment. The demand for filters in the industrial & manufacturing segment is expected to be driven by the well-established industrial setup in Europe and North America coupled with stringent regulations in these regions regarding emission from these facilities.

By Regional Analysis

Asia Pacific dominated the market in 2021 and accounted for over 42% share of the global revenue in 2020 owing to the rapid industrialization coupled with stringent regulations by local governments to maintain the environmental quality. Increasing atmospheric pollution levels and growing environmental concerns are anticipated to promote the usage of air filtration and water filtration processes, thereby propelling market growth. 

North America is expected to grow at a steady CAGR from 2022 to 2030 due to the high automobile production levels as a result of the presence of major manufacturers, such as Ford, General Motors, and BMW. In addition, technological advancements, such as the implementation of nanotechnology in the filtration process are anticipated to boost the product demand in the region.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

• Company Overview
• Company Market Share/Positioning Analysis
• Product Offerings
• Financial Performance
• Recent Initiatives
• Key Strategies Adopted by Players
• Vendor Landscape
• List of Suppliers
• List of Buyers

Some of the prominent players in the Filters Market include:

• 3M
• Airex Filter Corp.
• Koch Filter
• Freudenberg Filtration Technologies SE & Co. KG
• Donaldson Company, Inc.
• Camfil AB
• Parker Hannifin Corp.
• DENSO Corp.
• Clark Air Systems
• Spectrum Filtration Pvt. Ltd.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

Market Segmentation

• By Product 
• Fluid Filters
• ICE Filters
• Air Filters
• By Application 
• Motor Vehicle
• Consumers Goods
• Utilities
• Industrial & Manufacturing
• Others

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Highlights of the Report:

• Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
• Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Filters market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Filters market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Filters markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

• Governmental bodies, and organizations creating economic policies
• National and international social welfare institutions
• Company websites, financial reports and SEC filings, broker and investor reports
• Related patent and regulatory databases
• Statistical databases and market reports
• Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

• Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
• In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

• CEOs, VPs, market intelligence managers
• Procuring and national sales managers technical personnel, distributors and resellers
• Research analysts and key opinion leaders from various domains

Key Points Covered in Filters Market Study:

• Growth of Filters in 2022
• Market Estimates and Forecasts (2017-2030)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Filters and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Filters Consumption Analysis
•  Filters Production Analysis
•  Filters and Management