Industrial Air Filter Market to Reach $12.3 Bn, Globally, by 2030 at 8.3% CAGR: Allied Market Research.

PORTLAND, Ore., Oct. 25, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Industrial Air Filters Market by Type (HEPA Rated & Other Filter Media, Ionic, Activated Carbon and UV Filters), End-User Industry (Food & Beverage, Pharmaceutical, Chemicals & Petrochemical, Electronics and Others) and Application (New System and Replacement): Global Opportunity Analysis and Industry Forecast, 2021–2030". According to the report, the global industrial air filter market generated $5.7 billion in 2020, and is anticipated to generate $12.3 billion by 2030, witnessing a CAGR of 8.3% from 2021 to 2030.

Prime determinants of growth

Degradation in quality of air, increase in awareness and policies regarding maintenance of indoor air quality, and growth in demand for HEPA filters in hospitals and pharmaceutical sectors drive the growth of the global industrial air filter market. However, High capital & operational costs, and disposal of HVAC filters hinder the market growth. On the other hand, high focus on nanotechnology for air filtration presents new opportunities in the coming years.

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Covid-19 Scenario

• The outbreak of the Covid-19 pandemic led to strict lockdowns, which forced the construction, manufacturing, hotel, and tourism industries to shut down temporarily. This, in turn, reduced the demand for industrial air filters.
• The supply chain was disrupted during the initial stage of the pandemic. This led to decline in manufacturing of industrial air filters, thereby restraining the growth of the global industrial air filter market.
• However, the market is expected to recover soon after the manufacturing facilities are back with full production and operation capacity.

The food & beverages segment to maintain its leadership status throughout the forecast period

Based on end use industry, the food & beverages segment held the highest market share in 2020, accounting for more than one-fourths of the global industrial air filter market, and is estimated to maintain its leadership status throughout the forecast period. This is due to maximum installation of air filters in food and beverage industries. However, the electronics segment is projected to manifest the highest CAGR of 10.1% from 2021 to 2030, owing to increase in consumption of disposable products in the market.

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The replacement segment to maintain its lead position during the forecast period

Based on application, the replacement segment accounted for the largest share in 2020, contributing to nearly three-fifths of the global industrial air filter market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 8.4% from 2021 to 2030, owing to need for frequent replacement of filter media in the air filters. The other segment discussed in the report is the new system.

Asia-Pacific, followed by North America, to maintain its dominance by 2030

Based on region, Asia-Pacific, followed by North America, held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global industrial air filter market. This is due to the large scale installation of industrial air filters in industries in China and India. However, the LAMEA region is expected to witness the fastest CAGR of 9.1% during the forecast period, owing to rapid industrialization in countries in the region.

Leading Market Players:-

• Ahlstrom-Munksjö
• Air Filters, Inc.
• American Air Filter Company Inc. (Daikin Industries Ltd)
• Camfil
• Donaldson Company, Inc.
• Filtration Group
• Freudenberg Filtration Technologies SE & Co. KG
• Lydall, Inc.
• MANN+HUMMEL
• Parker-Hannifin Corporation

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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