September 28, 2022 20:00 ET | Source: Acumen Research and Consulting Acumen Research and Consulting

BEIJING, Sept. 28, 2022 (GLOBE NEWSWIRE) -- The Global Filters Market Size accounted for USD 74.6 Billion in 2021 and is estimated to achieve a market size of USD 111.9 Billion by 2030 growing at a CAGR of 4.8% from 2022 to 2030.

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Continued growth from the transportation sector for reducing emissions as a result of restrictions imposed by many agencies, including the United States Environmental Protection Agency (EPA) as well as the Ministry of The environment, is likely to drive the filters market during the projected period. Due to the increasing increase in the treatment of the water and sewage industry, the market is likely to grow significantly. Authorities in several developing nations are focusing on the construction of water treatment infrastructure in order to supply safe water to their inhabitants for a variety of reasons, including sanitation, drinking, and cooking.

Filters are utilized in numerous automobile applications, such as cabin air filtration, oil intake, and emission filtration. The government's concentration on the treatment of wastewater plans for the development of treatment facilities is anticipated to grow the global filters market value. This is owing to a shortage of clean drinking water, a population increase, and contaminants in surface and groundwater sources. The worldwide automotive industry's growth, as a result of factors such as growing population and disposable income, is predicted to boost the filters market trend, especially in emerging regions such as Asia-Pacific, the Middle East and Africa, and Latin America.

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The global filters market has been segmented by Acumen Research and Consulting based on product, and application. By product, the market is separated into air filters, fluid filters, and ICE filters. In terms of product, the ICE filters dominate the industry and contributed to the majority of the market share for global filter growth. The implementation of a start-stop technology for autonomous closure and restarting of internal-combustion engines in order to decrease engine loitering time, pollutants, and fuel consumption is expected to boost the use of ICE filters in the upcoming decades. Moreover, advances in the automotive industry, such as hybrid and electric vehicles, are projected to propel the ICE filters category forward.

Moreover, according to the filters market forecast, the fluid filters segment is expected to hold significant market shares in the coming years. Government investments in the development of wastewater treatment plants to supply clean water for different commercial, residential, and industrial purposes are likely to drive the fluid filter market. Furthermore, the extensive usage of fluid filters in a variety of applications, including cold sterilization of beverages and medicines, petroleum refineries, and milk and cheese processing, is likely to fuel the filters market growth.

In terms of application, the market is further categorized into motor vehicles, utilities, consumer goods, industrial & manufacturing, and others. Motor vehicles held the largest market share, accounting for the vast majority of global filter sales. In the future years, the usage of filtration equipment in a number of consumer goods, including air purifiers, water filters, and air conditioners, is likely to fuel market expansion. Furthermore, firms such as Philips, Dyson, as well as Molekule are likely to boost the consumer goods market.

The global filters market is separated into several geographic regions: North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. According to filters industry analysis, Asia-Pacific will lead the market in 2021. This is due to growing industrialization combined with rigorous environmental rules imposed by municipal governments. Increasing levels of atmospheric pollution and rising environmental concerns are expected to encourage the use of filtration systems and water filtration procedures, pushing market expansion.

Besides that, the region's construction of multiple wastewater treatment facilities is predicted to drive a significant rise in filter demand in South and Central America throughout the projection period. Water contamination is on the rise in countries such as Argentina, Brazil, and Uruguay. Furthermore, the adoption of filters to minimize emissions levels in Brazil's increasing mining industry is predicted to fuel regional market expansion.

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Some of the prominent filters market companies are 3M, Donaldson Company, Inc., Parker-Hannifin Corporation, Airex Filter Corporation, Freudenberg Filtration Technologies SE & Co. KG, The Camfil Group, Clark Air Systems, DENSO Corporation, Koch Filter, and Spectrum Filtration Pvt. Ltd.

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