Asia Pacific air filtration market size was estimated to be valued over USD 210 million in 2015, growing at a CAGR of 8% from 2016 to 2023 and is anticipated to exceed USD 450 million by 2023. China air filtration market dominated the region in 2015 and is expected to grow at a CAGR of over 6.6% during the forecast period.
Rising disposable income along with mounting concerns regarding air quality and related health disorders is expected to drive the industry growth from 2016 to 2023. Surging demand for products that deliver strong performance and improved efficiency while at the same time reduce energy consumption is also expected to favourably impact the industry from 2016 to 2023. Moreover, resource scarcity, rapid urbanization, changing demographics and growing environmental awareness are also expected to fuel demand.
Increasing vehicle production and parc, stringent emission norms and growing health concerns and rising demand for cabin comfort systems are major factors driving the industry demand over the forecast period. However, long service intervals affecting aftermarket coupled with reluctance to replace air filters are restraining the overall growth of the industry. Nevertheless, non-serviceable air filters along with use of nano-fiber filter media are acting as the potential opportunities for the market.
Asia pacific air filtration market is categorized on the basis of application area, such as gas turbine air filters, HVAC air filters, automotive air filters, bag house air filters and cleanroom air filters. The industry has been dominated by HVAC air filters, with continuous demand from commercial and residential sectors for new installations as well as retrofitting of existing systems. Consumer focus on ambient air quality and energy efficiency of these systems, coupled with recovered consumer spending, has been aiding the global HVAC air filters market.
Asia pacific air filtration industry can be segmented by type which includes cabin and intake. In addition, the industry can be further segregated by filter media as cabin-particle & activated carbon and intake-cellulose & synthetic. Furthermore, the industry is bifurcated by vehicle type which includes passenger car, LCV and HCV.
With advances in the research and development, long lasting filters with high efficiency and low cost have been developed which increases the replacement period of the intake air filter. Moreover, the unawareness among the customers about when to change the intake air filter acts as a loss to the aftermarket manufacturers.
However, several seminars and activities are being conducted by the original equipment manufacturers in order to create consciousness among the users about the benefits of these filters has improved the swiftness for the after-market supplier to grow. Cabin filters are not incorporated in every segment of vehicles, the demand of luxury vehicles is increasing in the region driving the cabin air filter market. Customers are not aware about the importance and advantage of cabin air filters in an automobile while the promotion of cabin air filters on comfort and health of the driver would increase the demand in the region.
The manufacturers observe numerous opportunities across the region owing to growth of end-use industries such as electronics, power, semiconductors, cement, and the steel industry. Asia-Pacific air filtration market size is anticipated grow at a higher CAGR in comparison to other regions due to rapid industrialization along with growth in economies over the forecast period.
South Korea, Japan, China, Thailand and India have evolved as automotive hubs in the regional as well as global scenario. The capability of the individual to buy and availability of number of automobiles segments in the region has accelerated the production of vehicles. The demand of air filters can be linked directly with the production of vehicles which is hitting a record high in the region. India air filtration market is expected to offer significant growth potential over the next decade.
Key industry participants for Asia Pacific air filtration market share include HealthWay Home Products, Inc., CAMFIL INDIA, Good Life, Inc., IQAir North America, Inc., Keller USA, Inc., Philips Electronics N.V., Ameripure Technologies, Air Filtratation Systems, Abatement Technologies, Inc., Electrocorp and Sentry Air Systems, Inc, among others.
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