Pune, India, June 15, 2021 (GLOBE NEWSWIRE) — The global air filters market size is expected to showcase exponential growth by reaching USD 22.15 billion by 2028 while exhibiting a CAGR of 7.1% between 2021 and 2028. Fortune Business Insights in its report, titled “Air Filters Market Size, Share & COVID-19 Impact Analysis, By Type (Cartridge Filters, Dust Collectors, HEPA Filters, Baghouse Filters, and Others), By End-User (Residential, Commercial and Industrial), and Regional Forecast, 2021-2028.”, mentions that the market stood at USD 12.89 billion in 2020. Factors such as the rising automotive sector and the growing demand for Heating, Ventilation, and Air-Conditioning (HVAC) systems globally will boost the adoption of the product. This presents a lucrative opportunity for the adoption of advanced filtration systems during the forecast period.
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Market to Exhibit 6.6% Growth Rate; High Demand for Advanced Air Filtration Systems amid COVID-19
According to the Japan Electrical Manufacturers Association, in 2020, domestic home appliances shipments hit their all-time highest level in 24 years. This is owing to the robust demand for advanced air filtration systems. Similarly, the demand for air filtration systems in the wake of the widespread effects of the novel coronavirus is expected to positively affect the growth of the market. The market exhibited a growth rate of 6.6% in 2020.
On the basis of type, the market is segmented into cartridge filters, dust collectors, HEPA filters, baghouse filters, and others.
- Based on type, the HEPA filters segment held a global air filters market share of about 24.8% in 2020. The segment is likely to dominate backed by the greater efficiency of these filters to remove airborne particles and keep the air pure. This has further led to high demand from several industrial applications such as commercial & residential buildings, healthcare, and healthcare.
Based on the end-user, the market is segregated into residential, commercial, and industrial. Lastly, on the basis of region, the market is divided into North America, Latin America, Europe, Asia –Pacific, and the Middle East and Africa.
What does the Report Include?
The global market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research…