Chicago, July 29, 2022 (GLOBE NEWSWIRE) — Panel Filters Market is projected to reach USD 9.9 billion by 2027 from USD 8.1 billion in 2022 growing at a CAGR of 4.2% during the forecast period according to a new report by MarketsandMarkets™. Factors such as rising awareness about air quality levels, government regulation for efficient filtration, and are rising demand from non-residential sector are driving the panel filters market. Restrain for the market include rising environmental concerns with increasing air conditioners (ACs) sale causing to an increase in the air pollutants that are released during the functioning of the systems. Opportunities in panel filters markets include rapid transformation through IoT in panel filters, wherein panel filters are connected to the Internet to enable data sharing and improving operations for better efficiency, and predictive maintenance schedule. Moreover, shortage of skilled labor is challenge for panel filters markets.
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165 – Tables
52 – Figures
171 – Pages
By Material, Synthetic accounted for the largest share in 2021
Synthetic are estimated to be the largest material in Panel Filters. These synthetic filters are utilized as pre-filters in Air Handling Unit (AHU) for non-residential applications. These filters improve the life span of primary filters (bag filters or HEPA filters) by filtering larger airborne particles. For residential applications, these filters are suitable for people that are suffering from asthma and allergies.
By application, Non-Residential accounted for the largest share in 2021
Non-Residential is estimated to be the largest market for Panel Filter market. The non-residential industry includes commercial buildings, pharmaceuticals, food & beverages, electronics & semiconductor, data centers, and others. Panel filters are used in AHU and chillers in HVAC systems. These panel filters are primarily used as pre-filters for main filters (HEPA or bag filters). Their function is to capture larger airborne particles and act as the first step in the air filtration process. These filters save cost by extending the life of expensive final filters (HEPA, bag, and others).
By type, Reusable panel filters accounted for the largest share in 2021
Reusable filters is estimated to be the largest market for panel filter during forecast period. These panel filters are washed and cleaned after every few months and reused in HVAC systems. Reusable type of panel filters includes pleated filters, electrostatic filters, and others. These panel filters are costlier compared to disposable panel filters. However, these are ecologically beneficial and expected to be cost-effective in the longer run. Moreover, reusable panel filters offer convenience to customers by minimizing the hassle of changing filters after every few months.
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APAC is projected to account for the largest share of the Panel Filters in 2021
APAC is estimated to be the largest market for Panel Filters during forecast period. The market in the region is primarily driven by the rising demand due to continuously increasing population in the emerging economies, such as China and India. The growth of the panel filter market in China is attributed to the increasing awareness regarding pollution control, increasing population, growing industrialization are the factors driving the panel filter market in the country.
Key Players operating in Panel Filters Market:
- Camfil AB (Sweden),
- AAF International (US),
- AFPRO Filtration Group (Netherlands),
- Mann+Hummel (Germany),
- Parker Hannifin (US),
- Donaldson Company (US),
- Freudenberg Filtration Technologies (Germany).
Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Panel Filters market.
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