The global market for filters is expected to reach USD 88.19 billion by 2020. 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.
Browse Detail Report With TOC @ Global 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.
Request A Sample copy of This Report @ http://www.hexareports.com/sample/42699
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
Related Reports:
China Grinding Balls Industry 2016 Market Research Report:
http://www.hexareports.com/report/china-grinding-balls-industry-2016
Global Nano Calcium Carbonate Market Survey Report to 2020:
http://www.hexareports.com/report/global-nano-calcium-carbonate-market-survey-report-to-2020
About Us:
Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
Media Contact
Company Name: Hexa Reports
Contact Person: Ryan Shaw
Email:Send Email
Phone: 1-800-489-3075
Address:Felton Office Plaza, 6265 Highway 9
City: Felton
State: California
Country: United States
Website: http://www.hexareports.com/report/filters-market-analysis-by-product-fluid-ic-engine-air-by-application-motor-vehicle-consumer-applications-utilities-industrial-amp-manufacturing-and-segment-forecasts-to-2020/details
