HVAC Filters Market Size to Reach USD 6.59 Billion By 2032 Advanced Filtration Technologies Drive Market Growth

GlobeNewswire On August 28, 2024 18:00 IST

HVAC Filters Market is growing due to an increasing preference for filters made from sustainable and recyclable materials.

Austin, Aug. 28, 2024 (GLOBE NEWSWIRE) — The HVAC Filters Market size is projected to reach USD 6.59 billion by 2032 and grow at a CAGR of 6.00% over the forecast period of 2024-2032.

Rising Awareness of Air Quality and Health in HVAC Filters Drive Market Growth.

The increased awareness of indoor air quality and its health implications is influencing the demand for advanced HVAC filters. As the concern about respiratory health, allergies, and the overall well-being associated with poor air increases among individuals and organizations, the demand for high-efficiency filtration is growing. The U.S. Environmental Protection Agency supports this trend through its findings that indoor air is up to five times more polluted than outdoor air, thus, the importance of filtration.

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Key Players

Filtration Group Corporation
Ahlstrom-Munksjö
3M Company
Mann+Hummel
Parker-Hannifin Corporation
Sogefi Group
American Air Filter Company, Inc.
Camfil AB
Donaldson Company, Inc.
Freudenberg Group

Moreover, in recent years, new studies have been released that show that high-efficiency filters such as HEPA and ULPA filters can reduce up to 99% of airborne pollutants, allergens, and pathogens. As a result, the demand for HVAC filters has been steadily growing while players in this subsection have been developing innovative solutions and realizing new products.

For instance, in 2023, 3M introduced its next-generation Filtrete Smart Air Filter, equipped with sensors and IoT connectivity to provide real-time air quality monitoring and filter performance updates.

Additionally, the HVAC filters market has been witnessing a growing adoption of smart filters with the improving sensor and IoT technologies. This innovation is set to redefine how air is filtered. Smart filters are designed with various sensors that collect crucial data in real time while continuously monitoring the indoor filters. Hindered by physical-based technologies, traditional smart filters were not able to offer satisfactory alertness. With sensor-based technologies, smart filters now alert the user when the filter is not clean, saturated, or has particle pollution. Cleaning and replacing the filter at the right time ensures that the HVAC system is always functioning at optimal levels and would help in avoiding system failures that normally require expensive repairs.

In 2021, LG Electronics launched its PuriCare AeroTower air purifier, which includes smart filter technology. The device features a filter status indicator and real-time air quality monitoring through its SmartThinQ app.

HVAC Filters Market Report Scope:

Report Attributes	Details
Market Size in 2023	US$ 3.90 Billion
Market Size by 2032	US$ 6.59 Billion
CAGR	CAGR of 6.00% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments	• By Material (Fiberglass, Synthetic Polymer, Carbon, Metal) • By Technology (Electrostatic Precipitator, Activated Carbon, UV Filtration, HEPA Filtration, Ionic Filtration) • By End-Use Industry (Building & Construction, Pharmaceutical, Food & Beverage, Automotive, Others)
Regional Analysis/Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
DRIVERS	• Rising demand for the HVAC systems drives the market growth. • Indoor Air Quality Is Getting More Attention • Government rules and policies for filtering that works well

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Segmentation Analysis

By Material

The synthetic polymer segment held the largest market share around 32.45% in 2023. Synthetic polymers are often more affordable and easier to manufacture in large quantities, making them an attractive option for both residential and commercial applications. The growing emphasis on improving indoor air quality and the increasing installation of HVAC systems in new construction and renovation projects further boost the demand for these efficient and durable synthetic polymer filters. This segment’s dominance reflects its ability to meet the evolving needs of the market while offering practical benefits in terms of performance and cost.

By End-Use Industry

The building & construction industry held the largest market share around 43.45% in 2023. The increasing spending in the construction sector, with the U.S. construction spending being USD 1.9 trillion in 2023, including both residential and commercial sectors, will have a strong impact on the market. High substrate retention capability, cost-effectiveness, biodegradability, and higher efficiency will stimulate product deployment across the construction sector, bolstering the market size. Moreover, the shift in trends toward the adoption of stringent building codes and standards for promoting internal air quality will drive the HVAC filter market.

Regional Landscape:

Asia Pacific held the largest market share with around 41.23% in 2023. The Asia-Pacific region holds the largest market share in the HVAC filters market due to its rapid urbanization, industrial growth, and increasing focus on improving air quality. According to a report by the Asian Development Bank (ADB), Asia-Pacific’s urban population is expected to exceed 2.7 billion by 2030, fueling the demand for advanced HVAC systems and, consequently, high-efficiency filters. Governments in the region are implementing stricter air quality standards and regulations to combat pollution, which further drives the market. For instance, China’s Ministry of Ecology and Environment has introduced stringent regulations to improve air quality and reduce pollutants, leading to higher adoption of advanced filtration technologies.

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Recent Developments

In 2023, Filtration Group introduced its FST 4000 series in 2023, featuring an upgraded filter media with enhanced dust-holding capacity and lower pressure drop. This series aims to improve energy efficiency and extend the lifespan of HVAC systems, catering to both commercial and industrial applications.
In 2023, Filtration Group introduced its FST 4000 series in 2023, featuring an upgraded filter media with enhanced dust-holding capacity and lower pressure drop. This series aims to improve energy efficiency and extend the lifespan of HVAC systems, catering to both commercial and industrial applications

Key Takeaways:

Increased awareness of indoor air quality and health concerns is driving the demand for high-efficiency filters.
The market is seeing a shift towards smart HVAC filters equipped with sensors and IoT technology.
Asia-Pacific leads the market, fueled by rapid urbanization, industrial growth, and government regulations aimed at improving air quality.

Table of Contents – Major Key Points

1. Introduction

1.1 Market Definition

1.2 Scope (Inclusion and Exclusions)

1.3 Research Assumptions

2. Executive Summary

2.1 Market Overview

2.2 Regional Synopsis

2.3 Competitive Summary

3. Research Methodology

3.1 Top-Down Approach

3.2 Bottom-up Approach

3.3. Data Validation

3.4 Primary Interviews

4. Market Dynamics Impact Analysis

4.1 Market Driving Factors Analysis

4.1.1 Drivers

4.1.2 Restraints

4.1.3 Opportunities

4.1.4 Challenges

4.2 PESTLE Analysis

4.3 Porter’s Five Forces Model

5. Statistical Insights and Trends Reporting

5.1 Production Capacity and Utilization, by Country, by Type, 2023

5.2 Feedstock Prices, by Country, by Type, 2023

5.3 Regulatory Impact, by Country, by Type, 2023.

5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by region

5.5 Innovation and R&D, by Type, 2023

6. Competitive Landscape

7. HVAC Filters Market Segmentation, by Material

8. HVAC Filters Market Segmentation, by Technology

9. HVAC Filters Market Segmentation, by End-Use Industry

10. Regional Analysis

11. Company Profiles

12. Use Cases and Best Practices

13. Conclusion

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