Rapidly Growing Air Filter Market Attracting New Investors

Washington D.C.: The deteriorating air quality and increasing awareness about the harmful effects of the polluted air is creating demand for air filters. The improving economic scenario, increasing per capita income and rise in purchasing power in aiding the sales of air filters across the globe. In past few years, rising number of automobiles and pollution created by the fumes and exhausted created by the vehicles is hampering the quality of air and leading to poor health of people residing in urban and trafficked areas. Also with increasing industrialization and commercialization, the outflow of poisonous gases and particulate matter is rising and greatly affecting the health of people residing or working in areas close to such industries. Hence, with above mentioned factors and supportive government initiatives, the market for air filters is set to rise and will witness high demand across industrial, commercial and residential units.

In response to the augmenting market of air filters, various large and small players are venturing into the sector and going through fragmentation. For instance, a Washington based startup, Pacific Air Filtration, is creating a most cost effective and energy efficient air filter which will remove various harmful particles. The filer will require very less maintenance as compared to other substitutes in the market. The filter will work upon the principle of electrostatic filtration as it uses disposable and economical foam rather than metal plates. The product will be available at a market price of about USD350-500 which is much lower than other competing products which are available at a price of USD800-1000.  The company has raised USD1.25 million as it plans to launch its first product in first quarter of 2017.

TechSci Research depicts that the high potential and future market opportunities in the industry of air filtration is luring various operating companies to invest much more into the sector or inviting is aiding the growth of sectoral startups. The increasing government support for pollution free air and desire for a hygienic and better lifestyle is increasing the sales of air filters together with creating market opportunities into the sector.

According to a recent report published by TechSci Research, “Global Air Filters Market Forecast & Opportunities 2020”, global market for air filters is projected to surpass USD19 billion through 2020. HVAC, automotive and bag house air filters are the dominant segments in the market, followed by cleanroom air filters and gas turbine air filters. Although air filters penetration remained highest across Americas during the initial years of their development, over the last few years, Asia-Pacific has emerged as the most prominent market for air filters across the globe. Asia-Pacific is currently dominating the market on account of growth in end use segments. Booming construction industry with new construction projects, in addition to renovation projects, has been adding to growth in the market for medium efficiency filters.