Filters Market Size, Share & Trend Analysis Report By Product (Fluid, ICE, Air), By Application (Motor Vehicles, Consumer Goods, Utilities, Industrial and Manufacturing), By Region, And Segment Forecasts, 2019 - 2025

Industry Insights

The global filters market size was valued at USD 71.32 billion in 2018, growing at a CAGR of 4.9% over the forecast period. Rising amount of particulate matter owing to increasing pollution is expected to drive growth over the forecast period.

The market is highly driven by emerging technologies across numerous industries, and this leads them towards development of new products. The development of advanced products such as multi-functional water filtration membrane that uses titanium dioxide nanotechnology, which is expected to drive the industry growth over the forecast period.

ICE product segment in the U.S. emerged as the largest growing segment and is estimated to dominate the industry in the forthcoming years owing to the regulation and acts put forth by the Growing Environmental Protection Agency (EPA). In addition, growth in the penetration of filters across applications in automotive and industrial equipment is expected to benefit the industry.

The fluid filters segments is projected to register high growth over the forecast period due to the federal and state regulations in the U.S. In addition, the demand for air filters is expected to be driven by the use of the product in air intake and exhaust components across the applications industries.

The demand for automotive has experienced a brisk growth in the recent years and is anticipated to dominate the industry over the forecast period. In the automotive industry filters are used in different applications such as emission filtration, oil intake and cabin air filtration, which is increasing the growth.

Water filters help in purifying water from hazardous and physical contaminants. Different chemicals such as methylene chloride, benzene, vinyl chloride, and others pose health-related risks in drinking water. These chemicals are filtered and neutralized with the help of filters, and thus this is one of the most significant factor that is accelerating the growth.

Product Insights

ICE product accounted for the largest share, emerged as the leading product segment and accounted for 44.2% of the total revenue in 2018. Upsurge in the demand for passenger cars and motor vehicles in the emerging economies such as China, India and Brazil are expected to accelerate the growth of the ICE products during the estimated time span.

Owing to the rising demand for ICE filters in the automotive and automotive aftermarket, the industry has been experiencing massive growth in the recent years. Hybrid and electric vehicles have adopted recent advancements, which has immense usage of ICE products that is further increasing the usage level of the product.

Fluid products was considered to be the second largest product segment and accounted for 28.9% of the overall industry in 2018, owing to the surge in the awareness of health and hygiene among the consumers. In addition presence of regulations regarding purified water is projected to aid the industry growth in the forthcoming years.

The demand for air filters is expected to register notable gains on account of extensive use in building ventilation system and in vehicles. High usage of the product due the incorporation of advanced fibers that helps in removing the solid particulates such as pollen, dust, bacteria and mold from the air is expected to drive the segment growth over the forecast period.

Application Insights

Motor vehicles has emerged as the largest segment in the owing to increase in the urbanization couple with rise in the disposable income, which is expected to propel the demand for motor vehicles in the coming years. In addition heavy impact of environmental regulations on the air intake and exhaust in automobiles is expected to drive growth.

The consumer goods segment was valued at USD 4 billion in 2018 and is anticipated to reach USD 5.8 billion by 2025 owing to the change in the customer buying patterns and upsurge in the awareness related to domestic water & air filtration benefits. The ardent steps taken by the industry leads to rise in industry penetration, which is another factor that is likely to boost the growth.

The utilities segment is expected to register notable gains over the forthcoming years owing to several factors such change in the lifestyle of the customer. In addition, the initiatives taken by the government to increase industrialization and urbanization in the developing economies is expected to emerge as another dynamic factor that is expected to drive growth.

Industrial and manufacturing application is expected to reach USD 20.15 billion by 2025 due to the stringent regulations and the standards set by the governments and related associations, primarily in the developed economies, coupled with rise in the environmental concern that is likely to play a prominent role in expanding the reach of such product in these applications.

Regional Insights

The market in Asia Pacific accounted for 38.2 % of the market in 2018 and is anticipated to register notable gains on account of shift in the automobile manufacturing companies in Chin and India owing to the tax incentives and labor costs. This is expected to propel the demand for the product industry in this region over the next seven years.

The industry in North America is projected to grow at a CAGR of 5.9% during the forecast period and is a home to major key participants in the automotive industry, which in turn will boost the industry growth in the near future. Large number of customer base is expected to boost the demand for automobiles and thus this will surge the production of vehicles thereby driving the industry growth.

In 2015, the German automobile industry produced nearly 15 million vehicles, which is anticipate to be 19% of the total world production. This in turn has helped the automobile market to identify with premium manufacturing hub, and this indicates a huge demand and massive growth potential of the filters market in the forthcoming years.

The Environment and Climate Change Canada and Transport Canada regulate the emissions from internal combustion engines in Canada. The Canadian Environmental Protection Act 1999 (CEPA 1999) claims that Environment Canada has the authority to regulate emissions from all the on-road engines and also from the off-road engines thereby propelling the use the product.

Filters Market Share Insights

The market is considered to be highly fragmented and is recognized by a large number of participants. The major key players operating in the filters market are Affinia Group Intermediate Holdings, Inc.; Brita International; Clarcor, Inc.; Cummins, Inc.; Donaldson Company, Inc.; Mann+Hummel; Pall Corporation; Parker Hannifin Corporation; Denso Corporation and MAHLE GmbH. 

Key industry participants are at the verge of displaying forward integration characteristics and it is spread across distributing and manufacturing processes across the value chain. The companies are also looking forward to mergers & acquisitions that will help them to enlarge their reach to other developed economies.

Mann+Hummel, a German filter manufacturer, dominated the fuel & oil filters segment in 2014 and in the same year, acquired Vokes Air, which specializes in distributing and manufacturing air filtration systems. This will compel the other key players to implement the merger & acquisition process and will result the industry foresee consolidation.

Report Scope

Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global filters market on the basis of product, application, and region:

• Product Outlook (Revenue, USD Million; 2014 - 2025)

  • Fluid Filters

  • ICE Filters

  • Air Filters

• Application Outlook (Revenue, USD Million; 2014 - 2025)

  • Motor Vehicles

  • Consumer Appliances

  • Utilities

  • Industrial & Manufacturing

  • Others

• Regional Outlook (Revenue, USD Million; 2014 - 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Spain

    • Italy

    • Russia

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • Malaysia

    • Thailand

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa