Filters Market Growth, Striking Opportunities, And Forecasts To 2030

Filters Market Growth & Trends

The global filters market size is expected to reach USD 112.87 billion by 2030, registering a CAGR of 5.1% over the forecast period, according to a new report by Grand View Research, Inc. Growing demand from the automobile industry for the reduction of emission levels, owing to the regulations by several agencies, such as the U.S. Environment Protection Agency (EPA) and the Department of Energy, is expected to drive the market over the forecast period. The market is expected to witness significant growth owing to the rapid growth in the water and wastewater treatment industry. The governments across various developing countries are emphasizing the development of their water treatment infrastructures to provide safe water to their citizens for various purposes, such as drinking, sanitation, and cooking.

U.S. filters market size, by product, 2020 - 2030 (USD Billion)

Filters Market Segmentation

Grand View Research has segmented the global filters market on the basis of product, application, and region:

Based on the Product Insights, the market is segmented into Fluid Filters, ICE Filters, Air Filters.

  • The ICE filters product segment led the market in 2021 and accounted for the maximum revenue share of more than 42%. This high share was credited to the rapid growth in the automobile industry as ICE filters are widely used in automobiles to improve fuel efficiency. The implementation of environmental regulations, such as the Kyoto Protocol, Euro 5, and Euro 6 to control the release of harmful emissions, is expected to drive the segment further. The usage of ICE filters is expected to rise over the coming years owing to the high adoption of a start-stop system for automatic shutdown & restart of the internal combustion engines, to reduce the emissions & fuel consumption and idling time of engines. The advancements in the automotive industry, such as electric and hybrid vehicles, will also drive the segment growth.
  • The market growth for fluid filters is expected to be driven by the rising investments by governments in the construction of water treatment plants to provide safe water for various residential, commercial, and industrial applications. In addition, wide usage of fluid filters in a variety of other applications, such as cold sterilization of beverages & pharmaceuticals, petroleum refining, and dairy processing, is expected to support the segment growth. The air filters product segment is expected to witness the fastest CAGR from 2022 to 2030 owing to the rising focus of governments on the reduction of pollutants from vehicle emissions. In addition, the rising adoption of air purifiers in recent times is expected to fuel the demand for using cabin air filters that help in removing pollen & allergens from the air in homes, offices, aircraft, and train compartments.

Based on the Application Insights, the market is segmented into Motor Vehicle, Consumers Goods, Utilities, Industrial & Manufacturing, Others.

  • The motor vehicles segment led the market in 2021 and accounted for more than 45% of the global revenue share. The increasing automotive production, primarily in countries, such as China, Indonesia, South Korea, Japan, Malaysia, and Taiwan, supports the segment growth. In addition, stringent regulations for the reduction of automotive pollution levels by agencies, such as the U.S. EPA and the Department of Energy, are expected to increase the usage of filters, thus driving the product demand in motor vehicles applications. The usage of filtration equipment in several consumer goods, such as water filters, air purifiers, and air conditioners, is expected to drive the growth of the market over the coming years.
  • The manufacturing of portable air purifiers by several companies, such as Dyson and Philips, is expected to drive the consumer goods segment. The demand for filters in the industrial & manufacturing segment is expected to be driven by the well-established industrial setup in Europe and North America coupled with stringent regulations in these regions regarding emission from these facilities. Moreover, rapid industrialization in developing countries, such as India, South Africa, Brazil, Thailand, and Indonesia, is expected to drive the market. Other major application industries include pharmaceutical manufacturing and wine production. Microfiltration equipment is widely used in wine industries for the removal of contaminants, such as bacteria, particulates, crystals, and yeasts, to improve the quality of wine and provide stabilization.

Filters Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

Key Companies Profile & Market Share Insights

The companies are involved in the development of new sustainable products and solutions offering improved efficiency and better value to the customers. The companies are also trying to increase their sales through acquisitions, investments, and innovation.

Some of the prominent players operating in the global filters market include,

  • 3M
  • Airex Filter Corporation
  • Koch Filter
  • Freudenberg Filtration Technologies SE & Co. KG
  • Donaldson Company, Inc.
  • Camfil AB
  • Parker Hannifin Corp.
  • DENSO Corp.
  • Clark Air Systems
  • Spectrum Filtration Pvt. Ltd.

Order a free sample PDF of the Filters Market Intelligence Study, published by Grand View Research.

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