The global market
for filters was valued at USD 48.10 billion in 2011 and is expected
to reach USD 77.10 billion in 2018, growing at a CAGR of 6.7 % from
2012 to 2018.
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Surge in consumer
goods demand, especially in China, India and other Southeast Asian
countries is expected to boost the filter demand in the region. In
addition, introduction and implementation of various environmental
regulations and protocols such as the Kyoto Protocol, EURO 5 and EURO
6 norms to curb the emission levels from manufacturing, automobiles
and other industries are expected to drive the global filters market
over the next six years. However, volatility in raw material prices
is expected to hamper the growth of the market over the forecast
period.
ICE filters were the
largest product segment in 2011, accounting for over 40% of the
global market share. These are used in equipment to improve their
efficiency. Initiatives taken by various national governments' to
provide clean drinking water is expected to boost the demand for
fluid filters and this segment is estimated to grow at a CAGR of over
7% from 2012 to 2018.
Motor vehicles
accounted for the highest consumption of filters, valued at USD 24.58
billion in 2011. However, the use of filters in consumer goods is
expected to be the fastest growing application segment at a CAGR of
8.1% from 2012 to 2018. This is on account of increasing demand for
consumer goods in China and India and growth of replacement market in
North America and Europe.
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Demand for filters
was highest in Asia Pacific and was valued at USD 17.78 billion in
2011. This region is expected to show the highest growth over the
forecast period due to increasing industrial activities. In Europe,
owing to the presence of stringent environmental laws and regulations
governing the release of pollutants, the demand for filters is
expected to be considerably high and account for over 25% of the
total market share by 2018. The U.S. filters market was valued at USD
10.10 billion in 2011 and is expected to grow at a CAGR of over 5%
from 2012 to 2018 due to the presence of a large replacement market.
The leading filter
manufacturers include Affinia Group, BRITA, Clarcor Inc, Cummins,
Donaldson Company, Parker-Hannifin Corporation, Pall Corporation and
others. The report profiles the above mentioned companies along with
other major players in the filters market.
Filters Market,
Product Segment Analysis:
Fluid filters
Internal combustion engine (ICE) filters
Air filters
Filters Market,
Application Analysis:
Motor
vehicles
Consumers
Utilities
Industrial and manufacturing
Others (Transportation equipment, construction, etc.)
Filters Market,
Regional Analysis:
North
America
United States
Europe
Asia Pacific
Rest of the World (RoW)
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