Filters are devices consisting of multiple layers of porous materials, that are used for purification of fluids and air, by removing impurities. Filter porous materials are made up of polyester films, cotton, woven or knitted fabrics, paper or any other synthetic or organic materials. Increasing concerns of environmental pollution are expected to drive the filters market over the forecast period. Stringent governmental regulations regarding vehicular emission control such as EURO VI, BS V norms etc. coupled with restrictions on industrial pollution are also expected to fuel market growth over the forecast period. Growing demand for automobiles as well as consumer goods is expected to boost the market growth over next six years.
However, many companies are doing R&D for development of substitution devices for filters. Risk of substitution is expected to be a key challenge in for the growth of filters market. Key product categories include fluid, IC engine and air filters. IC Engine dominated the overall filters market, due to increasing demand of automobiles. Air filters are used widely for emitted gases from various industries. Fluid products are widely used for water purification plants as well as in industries. Various applications include automotive, consumer applications, utilities, industrial and manufacturing and other applications. Automotive applications dominated the overall filters market .Growing industrialization coupled with government restrictions on emission is expected to boost the industrial filters market.
The key products analyzed in this report include fluid, IC Engine and air filters. IC Engine products dominated the overall filters market share in terms of revenue in 2013. Growing demand of automobiles in Asia Pacific region is expected to boost filters market growth over next six years. China, being the leading automotive manufacturer, is the leading consumer for IC Engine products, followed by India. Stringent government regulations regarding vehicular emission control such as EURO VI, BS V etc. are also expected to fuel market growth over the forecast period. IC Engine segment was followed by fluid segment, which are widely used in industries and municipal water purifications systems. Increasing need of water purification is expected to help this segment to grow.
Various applications for filters market include automotive, consumer applications, utilities, industrial, manufacturing and other applications. Automotive applications dominated the overall filters market in 2013, with key uses being intake air, oil, fuel etc. Growing automotive market and stringent regulations regarding emission control are expected to drive the market growth for this segment over the forecast period. Automotive application segment is followed by industrial and manufacturing application segment. Increasing concerns about environmental pollution caused by industries coupled with stringent government regulations are expected to drive the growth of this application segment over the forecast period.
Asia Pacific region dominated the global filters market in terms of revenue. Growing automotive industry and increasing numbers of automotive manufacturers in emerging markets such as China and India are expected to be key factors for market development. Growing industrialization in Asia Pacific is also expected to fuel market growth over the forecast period. Apart from being the largest consumer, Asia Pacific is also expected to be the fastest growing region over next six years. Stringent rules restricting vehicular emission in Europe and North America are expected to help the filters market to grow.
The global filters market is significantly fragmented, with a number of companies opertating on the multinational as well as domestic level. Key market participants include Parker-Hannifin Corporation, Affinia Group Intermediate Holdings, Parker-Hannifin Corporation, BRITA GmbH, Pall Corporation, Clarcor Incorporated, MANN+HUMMEL, Cummins and Donaldson Company.