- The pleated filters market is estimated to attain about USD 13 billion by 2020. The worldwide demand for the market was around 186 million units in 2013. It is projected to exceed about 286 million units by 2020. The market is predicted to increase further at around 6.4 percent CAGR during 2014 to 2020. The said phase refers to forecast period.
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Stern ecological regulations with regard to worsening air quality, in combination with rising demand for preservation of energy are projected to be a significant propeller of the pleated filters market. Intensifying air borne illnesses are also predicted to positively affect the market. Augmented competitiveness in the gas and oil industry would raise the demand for superior products. This factor is also anticipated to drive the sales of the pleated filters market in the sector of oil filters.
Simple accessibility to replacement products is estimated to remain a significant hindrance for participants of the pleated filters market. Intensifying demand for lower emissions is also predicted to be a primary factor, positively affecting the market. Pleated filters find uses across the sectors of air conditioning, cement, power and metals. Augmented demand for pleated filters across these sectors is also projected to steer the pleated filters market forward during the forecast period.
Pleated filters have risenas one of the best filtration technologies. This has been with respect to overall costs, energy effectivity and ejection levels. These advantages have done well for the market and propelled it ahead. Escalating building projects in the regions of rest of the world and Asia Pacific are also predicted to boost the pleated filters market further. China, India, Indonesia and Japan are anticipated to notice high market development. This is because of rising urbanization and enhanced living standards in thesecountries.
The pleated filters market is fragmented on account of three sectors. These include applications, products and geographies.
The applications pleated filters market includes commercial, industrial, utilities, housing and others. Amplified demand for pleated filters across these segments is also anticipated to steer demand for the market. Industrial dominated the market in 2013. It occupied a share of 42.3 percent. Commercial also made up for an important share through the forecast period. Housing is estimated to show high growth in the years to come.
The products pleated filters market includes air filters, food and beverage filters, oil filters and others. Air filters occupied maximum share during the forecast period. Oil filters are predicted to witness maximum growth in the future. Food and beverages filters are estimated to show high growth during the forecast period.
Asia Pacific is estimated to lead the geographies pleated filters market during the forecast period. The region is estimated to rise furtherat the maximum CAGR in the future. Japan and China have added maximum revenue to the Asian Pacific market. The rest of the world is projected to experience high pleated filters market expansion due to growing building projects.
The North American and European markets are driven ahead by ejection and environmental policies.
Information Source: Grand View Research
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