Filters Market Size, Share & Trends Analysis Report By Product (Fluid Filters, ICE Filters), By Application (Motor Vehicles, Industrial & Manufacturing, Consumer Goods, Utilities), By Region, And Segment Forecasts, 2020 - 2027

Industry Insights

The global filters market size was estimated at USD 74.7 billion in 2019 and is anticipated to expand at a CAGR of 5.1% over the forecast period. Rising demand for the product from various industries such as automotive, industrial, and manufacturing owing to the stringent environmental regulations is estimated to fuel market growth over the forecast period.

The automotive industry is projected to witness strong growth across the globe on account of factors such as growing population coupled with increasing disposable income. Increasing use of filters in applications, including oil intake, cabin air, and emission filtration in the automotive industry is anticipated to benefit the market.

The market in U.S. is anticipated to witness a CAGR of 3.3% from 2020 to 2027 and is estimated to reach USD 16.7 billion by 2027. Growing Environmental Protection Agency (EPA) regulations and acts are expected to positively influence the product demand in motor vehicles, consumer goods, utilities, and industrial and manufacturing, which in turn, is expected to promote industry growth.

The industry is significantly impacted by the availability of raw material such as paper, cotton, synthetic textiles and fibers, metals such as iron and steel, adhesives, rubber, chemicals, and plastics on account of the use of multiple materials for the production of filters. Fluctuations in the raw material prices have a direct impact on the manufacturing cost that limits industry growth.

Factors such as changing customer buying habits and strict government norms are anticipated to benefit industry growth. In addition, growing environmental issues such as water and air pollution on account of the growing population and rapid industrialization are likely to propel the demand for implementation of water and air filtration systems.

Expansion of the manufacturing sector coupled with growing investments in water, wastewater, power generation, and infrastructure across the globe is anticipated to boost the product demand over the forecast period. In addition, technological developments aimed at the development of novel and superior products are anticipated to further fuel market growth.

Product Insights

The ICE filters segment accounted for USD 32.9 billion in 2019 and is anticipated to exhibit a CAGR of 4.9% from 2020 to 2027. Positive outlook of the automobile industry in regions such as Asia Pacific and Central and South America on account of increasing spending capacity coupled with improved standard of living is projected to benefit segment growth over the forecast period.

Implementation of various environmental regulations such as Kyoto Protocol, Euro 5, and Euro 6 to control the release of harmful emissions compel the manufacturers to install filters, which is expected to aid market growth. In addition, increase in the replacement frequency of the filters to comply with the regulations is expected to drive the filters market.

Rising health concerns coupled with rising demand for clean drinking water is expected to surge the demand for fluid filters over the forecast period. Product benefits such as providing clean fluids to improve the oil recovery process efficiency along with protecting the equipment parts is projected to boost the demand for fluid filters in various applications including automotive, industrial, and defense.

Organizations such as the United Nations, EU Emission Standards, Environmental Protection Agency Emirates Authority for Standardization and Metrology, and California Environmental Protection Agency have designed specific regulations and guidelines to improve safety and reduce environmental and health hazards. This is projected to fuel the demand for filtration systems.

Application Insights

Motor vehicle emerged as the leading application segment and accounted for 50.9% of the total market share in 2019. Growing disposable income in the developing economies is expected to have a positive impact on the demand for motor vehicles. In addition, increasing demand for automobiles coupled with stringent regulations to reduce vehicular emissions is expected to aid the demand.

Expansion of various industries across the globe such as automotive and textile is anticipated to promote the use of filters in order to protect the equipment and machinery and extend its shelf-life. In addition, it also helps in preventing the downtime due to failures and the cost for spare parts. This is projected to propel industry growth over the forecast period.

Utilities filter applications are presumed to experience robust growth due to several factors including government initiatives to increase urbanization and industrialization, particularly in the developing regions such as Asia Pacific and Central and South America. Change in customer lifestyle and living standards are key reasons that are presumed to assist the growth in the near future.

Other application segment accounted for 10.7% of the total market share in 2019. Other applications mostly include the wine industry and the medical industry. Microfiltration is widely used in the wine industry to remove contaminants such as bacteria, particulates, crystals, and yeast for stabilization and fine quality of wine.

Regional Insights

Asia Pacific emerged as the leading region for the said market and accounted for 42.9% of the total market in 2019 and is expected to reach USD 52.6 billion by 2027. Growing concerns related to air and water pollution in the region are projected to support the use of filters across various end-use industries, which in turn, is expected to benefit growth.

Various manufacturing facilities are incorporating improved filtration techniques to reduce hazardous emissions and follow the regulatory trends. Various companies are planning to expand their footprint in Asia in order to expand their consumer base, which is expected to have a positive impact on  product demand over the forecast period.

Increasing number of regulations by government authorities to control the emission level by automobiles and industrial exhaust in Europe is expected to propel industry growth over the forecast period. The growth in automotive industry in the region coupled with strict vehicle emission regulation is expected to propel product demand over the projected period.

In 2017, the automobile industry in Germany produced 5.7 million vehicles, which is to be 5.8% of the total world production. The automobile industry is identified as a premium manufacturing hub, thereby, indicating a demand growth in the industry. Increasing concerns for air and water quality have further promoted product demand in the country.

Filters Market Share Insights

The market is characterized by a large number of industry participants. The major five companies accounted for 18% of the overall revenue generated. Prominent industry participants such as Parker-Hannifin and Denso accounted for nearly 4.5% and 4.0% of the global market in the recent past. Low market capitalization leaves ample room for other industry participants.

Major players are integrated across various stages of the value chain. For instance, industry participants such as Parker Hannifin Corporation; MANN+HUMMEL; Cummins, Inc.; Donaldson Company, Inc.; and Affinia Group Intermediate Holdings, Inc. are engaged in manufacturing filter media and filter elements.

Report Scope 

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global filters market report on the basis of product, application, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2027)

  • Fluid Filters

  • ICE Filters

  • Air Filters

• Application Outlook (Revenue, USD Million, 2016 - 2027)

  • Motor Vehicle

  • Consumer Goods

  • Utilities

  • Industrial & Manufacturing

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • Spain

    • U.K.

    • France

    • Italy

    • Russia

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • Malaysia

    • Thailand

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa