Global Air Filter Market Expected To Reach $19.0 Billion By 2020 With A CAGR Of 5.6% During 2016 To 2020

Date: 2016-09-18

The global Air Filter market was valued at $14.5 billion in 2015, and it is expected to grow at a CAGR of 5.6% during 2016 to 2020, reach $19.0 Billion by 2020. Air filters are used to filter the incoming air by trapping particulates such as dust, pollen, mold, smoke, debris, and bacteria from the air. They find use in a wide range of applications in which air quality is crucial.

Air filters play a significant role in maintaining good IAQ as air filters are one of the main components in HVAC systems. IAQ has gained attention in recent years as poor air quality affects the comfort, health, and productivity of building occupants. Lack of awareness of end-users about replacing air filters is one of the major challenges faced by the air filter market.

Key countries in the Asia-Oceania region include China, Japan, India, and South Korea. This region is estimated to be the largest market for air filters in 2015, as it is the largest producer of automobiles in the world. According to the study, Asia-Oceania is projected to hold the largest share by 2020, leading the global automotive air filters market. China is estimated to be the largest contributor to the regional market. Vehicle production in China increased by 7.3% in 2014 from the previous year. This remarkable growth enables the company to maintain its leading position and drives the market for air filters.

Apart from China, growing economies such as India and Indonesia contribute to the growth of the automotive industry in Asia-Oceania. The automotive industry in India has grown rapidly in the past few years. This growth can be attributed to the improved standards of living and increased disposable income of the public. The automotive air filters market in India is projected to grow at the highest CAGR from 2015 to 2020.
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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 1-510-400-8520



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