Filter Market

A filter is a device that removes solid airborne particles or inorganic solid from water that are generally harmful to human health if inhaled or consumed. Particles include things such as dust, pollen, mould, fibers, germs, chemicals, and others. It uses physical and or chemical processes with fibrous pleated paper, foam, cotton, ionizers, activated charcoal, absorbents, chemicals, catalysts, and others and cleans the air and water to the purest form. Air filters are used in buildings, transportation, public areas and industries where there is air pollution due to the environmental conditions or nature of the job or process. Water filters are used to provide clean water in the residential, industrial, and other sectors. The need for filters has decreased as a result of the COVID-19 outbreak, as there was no necessity from the industrial and residential sectors. Filter demand has reduced due to a temporary halt in operations in the industrial sector.

COVID-19 Impact Analysis

• There was a negative effect on the filter market due to the COVID-19 pandemic. The demand for filters decreased during the lockdown period due to the lack of requirements from the industrial and residential sectors as all the operations were at a halt.
• Due to the restricted supply of raw materials, the costs of the raw materials have increased which is pushing the manufacturers to raise the price of the final product.
• Disruption in the distribution channel was an important cause as the final product couldn't reach the stores; the delivery of finished products to the dedicated stores was not possible. Consumers had no option to order from the specialized stores, whereas online purchases couldn't support the installation service.

Top Impacting Factors

• Pollution levels have risen as a result of factors such as automobile traffic and industry, impacting general air quality and harming people's health on a broad scale. Short-term impacts of high pollution levels include nausea and dizziness; but, long-term exposure to pollutants can have deadly consequences for the respiratory, neurological, and reproductive systems. As a result, maintaining indoor air quality (IAQ) is critical for occupants' health and safety in residential areas and workplaces, where people spend the bulk of their time. The filter market is projected to increase as a result of this.
• The rising need for this filtering in various industries such as food and beverage and mining, as a consequence of the industry's reuse of wastewater, had a major influence on the filter market's growth. As a result, growing industrialization and urbanization will be major development drivers in the filter market throughout the projected period.

Market Trends

Increase in demand across the automotive industry to propel air filter market growth

As the automotive sector expands, there is a growing requirement for air filters to be installed in all cars, which is driving up market demand. Trends such as vehicle miles travelled, vehicle parks, and filters integrated into cars all affect growth. Apart from that, the automobile industry's strong demand for these filters is due to their advantages in aftermarket servicing. The filters are primarily used to clean and increase the efficiency of internal combustion engines while also protecting automobile engine components from hazardous dust particles. This filter is designed to strain the air that the engine consumes throughout a series of strokes. Overall the increase of growth in the air filter market is directly contributing to the growth of the filter market.

High initial installation and maintenance cost is causing hindrance to the growth of filter market

The demand for these filters is increasing as people become more aware of the importance of indoor air quality and the potential health risks. However, one of the key reasons inhibiting the market's growth is the high maintenance cost of these filters. Filters are typically expensive to replace since they need to be changed and serviced every four to six months. Furthermore, several commercial and industrial end-users acquire low-cost air filter equipment, which wreaks havoc on the working environment in HVAC systems. Furthermore, the filter market's expansion is hampered by a lack of understanding about the harmful consequences of bacterium and virus-contaminated air.

Key Benefits of the Report

• This study presents the analytical depiction of the filter industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the filter market share.
• The current market is quantitatively analyzed to highlight the filter market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed filter market analysis on the basis of competitive intensity and how the competition will take shape in coming years

Questions Answered in the Report

• Which are the leading players active in the filter market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What future projections would help in taking further strategic steps?

 Filter Market Report Highlights