The Global Filters Market is expected to reach USD
88.19 billion by 2020, according to a new study by Grand View Research, Inc.
Growing consumer awareness on account of rising environmental concerns is
expected to remain a key driving factor for the global market. In addition,
favorable regulatory scenario coupled with increasing demand for automobile and
consumer goods is also expected to have a positive influence on market growth.
Credible threat from substitute products and unstable raw material supply are
expected to be key challenges for market participants.
ICE (Internal Combustion Engine) filters was the
largest product segment and accounted for 44.7% of total market revenue in
2013. Positive outlook on the automobile industry, especially in high growth
markets of China, India and Brazil is expected to drive ICE filter demand.
Fluid filters are expected to be the fastest growing product, at an estimated
CAGR of 7.3% from 2014 to 2020. Regulatory focus on providing purified drinking
water is expected to drive the demand for fluid filters over the next six
years.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/filters-market
Further
key findings from the study suggest:
- Motor vehicles emerged as the leading application segment and accounted for over 51.5% of the total market revenue in 2013. Increasing automotive demand coupled with stringent regulations to cut down vehicular emissions is expected to drive demand. Consumer goods are expected to be the fastest growing application segment, at an estimated CAGR of 8.3% from 2014 to 2020. Growing consumer awareness regarding benefits offered by using purified water is expected to fuel demand for filters in this segment.
- Asia Pacific continued its dominance in the global market and accounted for 37.8% of total market revenue in 2013. China, being the largest global automobile manufacturer, is also the largest consumer for filters followed by India. Asia Pacific is also expected to be the fastest growing regional market for the filters, at an estimated CAGR of 7.9% from 2014 to 2020.
- Key market participants include Affinia Group Intermediate Holdings, ACDelco, Caterpillar Incorporated, DENSO Corporation, Johnson Matthey plc, Parker-Hannifin Corporation, BRITA GmbH, Procter & Gamble Company, Pall Corporation, Clarcor Incorporated, MANN+HUMMEL Gmbh, Visteon Corporation, Cummins and Donaldson Company.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
For the purpose of this study, Grand View Research
has segmented the filters market on the basis of product, application and
region:
Global Filters
Product Outlook (Revenue, USD Million, 2012 - 2020)
•
Fluid
•
IC Engine
•
Air
Global Filters
Application Outlook (Revenue, USD Million, 2012 - 2020)
•
Motor Vehicle
•
Consumer Applications
•
Utilities
• Industrial & Manufacturing
•
Others
Global Filters
Regional Outlook (Revenue, USD Million, 2012 - 2020)
•
North America
•
Europe
•
Asia Pacific
•
RoW
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry
James
Corporate
Sales Specialist, U.S.A.
Grand
View Research, Inc.
United
States
Phone: 1-415-349-0058
Toll
Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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Site: http://www.divog.org/
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