Filters Market Size, Share & Trends Analysis Report By Product (ICE, Air, Fluid Filters), By Application (Motor Vehicles, Consumer Goods, Industrial & Manufacturing, Utilities), By Region, And Segment Forecasts, 2024 - 2030

Filters Market Size, Share & Trends Analysis Report By Product (ICE, Air, Fluid Filters), By Application (Motor Vehicles, Consumer Goods, Industrial & Manufacturing, Utilities), By Region, And Segment Forecasts, 2024 - 2030

Filters Market Growth & Trends

The global filters market size is anticipated to reach USD 112.87 billion by 2030 and is anticipated to expand at a CAGR of 5.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is influenced by several key trends such as technology trends, regulatory trends, raw material trends, and application trends. Moderately growing demand for automobiles owing to factors such as rising disposable incomes, rising standards of living, and switching consumer trends for owning a private vehicle in developing regions such as Asia Pacific are likely to positively affect the market growth in the near future. The increasing use of intelligent air filtration systems is another trend driving the future air filtration market. These systems are designed to automatically adjust airflow and filtration performance within a room or building based on air quality, temperature, and humidity. Integrating Internet of Things (IoT) technology into air filtration systems aims to increase efficiency and reduce operating costs.

Growing environmental concerns and changing consumer behavior have prompted various governments to implement regulations and initiatives to safeguard the environment. Stringent implementation of pollution control acts like the Safe Drinking Water Act (SDWA) and Clean Water Act (CWA), coupled with a rise in the number of water treatment plants, have created a wide scope for the utilization of filters. Such a stringent regulatory framework is anticipated to play a key role in shaping the market over the forecast period.

Filters Market Report Highlights

• The ICE filters segment dominated the system type segment with more than 40% share in 2023. The positive outlook of the automobile industry, especially in the Asia Pacific and Central & South America regions, is expected to drive the market for ICE filters over the forecast period. There has been the implementation of various environmental regulations such as the Kyoto Protocol, Euro 5, and Euro 6 to control the release of harmful emissions, especially by automobiles and industrial applications. This factor is expected to aid the demand for ICE filters over the forecast period
• Fluid filters emerged as the second largest product segment of the overall filters industry in 2023. Growing healthcare awareness among consumers, coupled with a regulatory focus about purified drinking water is anticipated to aid the market for fluid filters over the projected period
• The industrial and manufacturing application segment accounted for a significant revenue share in 2023 and is expected to ascend at a higher rate in the projected time frame. Growing consumer awareness regarding the benefits offered by purified water is presumed to drive the growth of filter industry in future years
• Increasing urbanization coupled with rising disposable income is expected to propel the demand for motor vehicles over the projected period. This trend in turn is presumed to benefit the demand for the overall market over the forecast period
• Asia Pacific dominated the global filters market accounting for over 40.0% of the global revenue share in 2023 on account of the rising automotive demand, rapid industrialization coupled with rising environmental regulations for pollution control. Furthermore, increasing government initiatives encouraging economic development as well as industrialization are anticipated to bolster the end-use filter demand. Emerging economies are slated to witness faster growth when compared to the developed economies of North America and Europe
• In February 2023, Camfil launched its CamPure 8 media in the U.S. for the efficient removal of gaseous contaminants and odors, including sulfur dioxide, hydrogen sulfide, formaldehyde, and ethylene. The molecular filtration media can be utilized extensively in industries such as pulp & paper, oil & gas, wastewater treatment, and mining & metal refining, while also preserving fruits, flowers, and vegetables by removing odors and contaminants

Please note The report will be delivered in 2-3 business days upon order notification.