Filter Market: Global Industry Analysis Outlook and Forecast (2024-2030)

Filter Market size was valued at US $ 80.76 Bn. in 2023 and the total revenue is expected to grow at 4.7% through 2024 to 2030, the Filter market is reaching nearly US $ 111.39 Bn. in 2030.
Filter Market Overview:
Filters are used to remove pollutants like dirt, rust, and paint chips from oil, fuel, and air, increasing machine efficiency and lowering emissions. The market is expected to develop because of the rising demand for vehicles that runs on various fuels. Furthermore, rising levels of air pollution and global warming are drawing the attention of governments and policymakers all over the world, resulting in strict emission standards.

As a result of the strict emission regulations, the market will rise over the forecast period. China will adopt China 6 emission standards in July 2022, which are based on the US and Euro 6 emission standards.

Furthermore, rising demand for vehicle filters in BRICS countries, as well as the growing popularity of smaller, more efficient filters, are expected to drive market expansion in the future years. However, firms' failure to meet the increased demand for low-cost filters with longer service lives is expected to stymie the global filter market's expansion over the forecast period.To know about the Research Methodology :- Request Free Sample Report

The report has covered the market trends from 2016 to forecast the market through 2030. 2023 is considered a base year. Special attention is given to 2023 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.
Filter Market Dynamics:
The increased emphasis on reducing emissions from automotive and industrial applications is expected to fuel market expansion. Increased product application in a variety of consumer goods, including air purifiers and water purifiers, is expected to drive market growth. The rapidly increasing usage of air purifiers to destroy hazardous germs such as bacteria and viruses in homes, hotels, restaurants, airlines, and train compartments is likely to create new market opportunities.

With the government's emphasis on water treatment programs for the building of water treatment facilities, the global market is expected to grow. This is due to issues such as a lack of safe drinking water, population growth, and contamination of ground and surface water sources.

The market is likely to be driven by the global automotive industry's growth, which is predicted to be fuelled by factors such as rising population and disposable income, particularly in developing countries including Asia Pacific, the Middle East and Africa, and Central and South America. Filters are used in the automotive industry for a variety of purposes, including oil intake, cabin air filtration, and emission filtration.

A filter's essential component is the filter medium. It's utilized to catch any alien or undesired particles. Depending on the application, it is mostly composed of cellulose, synthetic, glass fiber, and activated carbon. In the coming years, advancements in filter media types or technology will provide tremendous potential for vehicle filter makers. Cabin filters are currently available to prevent dust particles from entering the car. Most dust filters capture 100 percent of particles 3 microns and larger, and 95–99 percent of particles 1–3 microns in size. Dust and odour filters, on the other hand, will have a mainstream market in the coming years.
Global Filter Market Segments:
The Filter market is sub-segmented into by Type and End-user industry.

Based on Type, the market is sub-segmented into ICE filters, Air filters, and Fluid filters. With the rise of the vehicle industry, ICE filters lead the market and accounted for more than 40.0 % of worldwide revenue in 2023. In order to improve fuel efficiency, ICE filters are widely used in automobiles. The introduction of environmental rules to regulate the discharge of hazardous pollutants, such as the Kyoto Protocol, Euro 5, and Euro 6, is predicted to promote category growth.

Government investments in the development of water treatment plants to supply clean water for various residential, commercial, and industrial purposes are likely to drive the fluid filters market. Fluid filters are also predicted to expand in popularity due to their widespread use in a range of applications, including cold sterilization of beverages and pharmaceuticals, petroleum refining, and dairy processing.

With the increased government attention on reducing pollutants from vehicle emissions around the world, air filters are predicted to expand at the quickest rate of 6.1 percent from 2023 to 2030. Furthermore, the growing popularity of air purifiers is likely to boost demand for cabin air filters, which remove pollen and allergens from the air in homes, businesses, planes, and railway compartments.

Based on Application, the market is sub-segmented into Motor vehicle and Consumer goods. Increased automotive manufacturing, mainly in countries such as China, Indonesia, South Korea, Japan, Malaysia, and Taiwan, motor vehicles led the market and accounted for more than 47.0 % of worldwide revenue in 2023. Furthermore, strict rules on the lowering of automotive pollution levels by agencies such as the United States Environmental Protection Agency and the Department of Energy are likely to increase filter usage, driving product demand.

Filtration equipment's use in a variety of consumer goods, including water filters, air purifiers, and air conditioners, is likely to drive market expansion in the future years. In addition, the consumer goods segment is likely to be driven by the manufacture of portable air purifiers by various businesses such as Dyson, Philips, and Molekule.
Filter Market Regional Insights:
With rapid industrialization trends and tight regulations by various governments to safeguard environmental quality, Asia Pacific dominated the market and accounted for over 42.0 % of worldwide revenue in 2023. The use of air filtration and water filtering procedures is expected to increase as atmospheric pollution levels rise and environmental concerns grow, accelerating growth.

The increased use of air filtration equipment in numerous industries, such as cement, chemicals, and metallurgy, is driving product demand in Europe, according to regulations given out by several authorities, such as the European Commission's International Plant Protection Convention (IPPC). Furthermore, the regional market is likely to be driven by an increase in the adoption of air purifiers in numerous nations, including Germany, France, Italy, and Spain.

From 2023 to 2030, North America is predicted to grow at a CAGR of 3.8 %. This is due to the presence of major manufacturers such as Ford, General Motors, Fiat Chrysler, Kia, BMW, and Mercedes-Benz in the region, which has increased vehicle manufacturing levels. Furthermore, technical advances such as the use of nanotechnology in the filtering process are expected to increase product demand in the region.

The objective of the report is to present a comprehensive analysis of the global FILTER market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the global FILTER market dynamics, structure by analyzing the market segments and projecting the global FILTER market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global FILTER market make the report investor’s guide.
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Filter Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 80.76 Bn.


Forecast Period 2024 to 2030 CAGR:
4.7 %
Market Size in 2030:
US $ 111.39 Bn.


 Segments Covered:
by Type
ICE Filters
Air Filters
Fluid Filters


by End-Use Industry
Motor Vehicles
Consumer Goods


by Application
Healthcare
Defense and Aerospace
Communication
Industrial Machinery
Others



Filter Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Filter Market key player
1. 3M
2. Airex Filter Corporation
3. Koch Filter
4. Freudenberg Filtration Technologies SE & Co. KG
5. Donaldson Company, Inc.
6. Camfil AB
7. Parker Hannifin Corporation
8. DENSO Corporation
9. Clark Air Systems
10. Spectrum Filtration Pvt. Ltd.
11. Danaher
12. Alfa Laval
13. Eaton
14. Parker Hannifin
15. Others

Frequently Asked Questions:

1. Which region has the largest share in Global Market?
Ans: Asia Pacific region held the highest share in 2023.

2. What is the growth rate of Global Market?
Ans: The Global Market is growing at a CAGR of 4.7% during forecasting period 2024-2030.

3. What is scope of the Global market report?
Ans: Global Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global market?
Ans: The important key players in the Global Filter Market are – 3M, Airex Filter Corporation, Koch Filter, Freudenberg Filtration Technologies SE & Co. KG, Donaldson Company, Inc., Camfil AB, Parker Hannifin Corporation, DENSO Corporation, Clark Air Systems, Spectrum Filtration Pvt. Ltd., Danaher, Alfa Laval, Eaton, Parker Hannifin, and Others

5. What is the study period of this market?
Ans: The Global Filter Market is studied from 2023 to 2030.