Allied Market Research published a report on the Global Residential Air Filter Market. The research provides a clear picture of the market’s current needs and future prospects. The research study gives a 360-degree overview of the overall market environment by supplying details on the Residential Air Filter Market size and share analysis, market dynamics, segmental & regional analysis, top investment pockets, competition landscape and other factors for the projected forecast period.
The Research report presents a complete judgment of the Residential Air Filter Market trends, growth factors, consumption, production volume, CAGR value, attentive opinions, profit margin, price, and industry-validated market data. The report is a useful resource for businesses, investors, shareholders and new entrants to gain an in-depth understanding of the market and make informed decisions and settle on educated business choices based on their business goals. The analysis sheds insight on the global Residential Air Filter Market drivers, restraints, and opportunities. Businesses can evaluate the Porter’s Five Forces Analysis to determine the structure, level of competition, and industry’s strengths and weaknesses. The report also contains information and statistics, tables and figures that are used in strategic planning for the company’s success. The report will be remarkable in its ability to provide worldwide investors with the information they need to make informed judgments about the market. Also, these research report provides accurate economic, global, and country-level predictions and analysis.
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According to the report, the global residential air filter industry generated $3.5 billion in 2021, and is estimated to reach $7.1 billion by 2031 witnessing a CAGR of 7.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
Drivers, Restraints, and Opportunities:
Rise in indoor air pollution, degradation in air quality due to rapid urbanization, surge in awareness about maintaining indoor air quality (IAQ), and several government initiatives toward the same drive the growth of global residential air filter market. On the other hand, high initial capital requirements and operational costs restrain the growth to some extent. However, higher focus on the use of nanotechnology for residential air filters is anticipated to create profitable opportunities in the industry.
COVID-19 Scenario:
- Shortage of workforce due to shutdown of production and manufacturing facilities had a negative impact on the global residential air filter market. However, the global market for residential air filter market has recovered slowly and steadily.
The fibre glass segment to rule the roost:
By filter type, the fibre glass segment held the major share 2021, accounting for less than two-fifths of the global residential air filter market revenue. This is attributed to the low price of fibre glass air filters. The activated carbon filters segment, on the other hand, would cite the fastest CAGR of 10.4% throughout the forecast period. HEPA filters are unable to capture gases like Volatile Organic Compounds (VOCs), hence homes facing VOC problems are encouraged to use activated carbon filters which is the major driving factor for this segment. The other segments analyzed through the report take in bag filters and HEPA filters.
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Asia-Pacific garnered the major share in 2021:
By region, Asia-Pacific garnered the highest share in 2021, holding more than one-third of the global residential air filter market revenue, and is expected to retain its dominance by 2031. Rapid urbanization and presence of emerging economies drive the growth of the market. LAMEA, however, would portray the fastest CAGR of 9.9% during the forecast period. The other provinces analyzed through the report include Europe and North America.
Leading Market Players:
- mannhummel group
- Johnson Controls International plc
- 3M Company
- Lydall-Gutsche GmbH & Co. Kg
- Parker Hannifin Corporation
- Emerson Electric Co.
- Freudenberg Filtration Technologies SE & Co. KG
- Camfil AB
- Purafil Inc.
- Daikin Industries Ltd.
The report analyzes these key players in the global residential air filter market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of the players.
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Residential Air Filter Market Key Segments:
Filter Type
- HEPA Filters
- Activated Carbon Filters
- Fibre Glass
- Bag Filters
- Others
By Region
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
Key Findings of the Study
- In residential air filter market analysis, in 2021, the fibre glass segment accounted-for maximum revenue, while the activated carbon filters segment is projected to grow at a notable CAGR during the forecast period.
- In residential air filter market trends, in 2021, Asia-Pacific contributed for the major share of the residential air filter market, while LAMEA region is expected to expand at the fastest rate during the forecast years.
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