Filters Market Size, Share & Trends Analysis Report By Product (ICE, Air, Fluid Filters), By Application (Motor Vehicles, Consumer Goods, Industrial & Manufacturing, Utilities), By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the filters market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for filters market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of filters market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Filters Market Categorization:

The filters market was categorized into three segments, namely product (Fluid Filters, ICE Filters, Air Filters), application (Motor vehicle, Consumers applications, Utilities, Industrial & Manufacturing), and regions (North America, Europe, Asia Pacific, Central & South America, and Middle East and Africa).

Segment Market Methodology:

The filters market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The filters market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East and Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eighteen countries, namely, the U.S., Canada, Mexico, China, India, Japan, Malaysia, Thailand, Australia, Germany, the UK, France, Spain, Italy, South Africa, Egypt, Saudi Arabia, Brazil.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Filters market companies & financials:

The filters market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• The 3M Company - The 3M Company was incorporated in 1929 and is headquartered in Minnesota, U.S. The company operates through four business segments namely safety & industrial, transportation & electronics, healthcare, and consumer. Its safety & industrial segment consists of abrasives, automotive aftermarket, closure and masking systems, communication markets, electrical markets, industrial adhesives & tapes, and personal safety products. In contrast, transportation & electronics segment consists of advanced materials, automotive and aerospace, commercial solutions, display materials and systems, electronic materials solutions, transportation, and safety products. The company's healthcare segment products include drug delivery, food safety, health information systems, medical solutions, oral care solutions, and separation & purification products, whereas consumer segment's products consist of consumer health care, home care, home improvement, and stationery and office supplies. In 2020, the company generated 50.1% of the total revenue from the Americas, 19.4% from EMEA, and 30.5% from Asia Pacific. As of 2020, it had 95,000 employees and 97 manufacturing facilities in 35 countries

• Parker Hannifin Corporation - Parker Hannifin Corporation was founded in 1917 and is headquartered in Ohio, U.S. The company manufactures motion and control technologies and systems, providing precision engineered solutions for a wide variety of mobile, industrial, and aerospace markets. Its operations are classified into two business segments: the diversified industrial segment and the aerospace systems segment. The company's diversified industrial segment is an aggregation of several business units that manufacture motion-control and fluid power system components for packaging, processing, transportation, agriculture, construction, and defense applications. This segment is further classified into three sub-segments, namely motion systems, flow and process control, and filtration and engineered materials. Aerospace systems segment produces hydraulic, fuel, pneumatic and electro-mechanical systems, and components utilized on domestic commercial, military, and general aviation aircraft. This segment is further classified into five sub segments namely flight control & actuation, fuel & inerting, hydraulics, engines, and fluid conveyance. As of 2020, diversified industrial segment accounted for 80 % and aerospace systems segment products accounted for 20% of the total company’s sales.

• Donaldson Company, Inc. - Donaldson Company, Inc. was founded in 1915 and is headquartered in Minnesota, U.S. The company operates through two business segments, namely engine products and industrial products. Its engine products segment manufactures the replacement filters for both air & liquid filtration applications, air filtration systems, liquid filtration systems for fuel, lube & hydraulic applications, exhaust & emissions systems. It sells the products of this segment to OEMs in the construction, mining, agriculture, aerospace, defense, and transportation end markets. The company's industrial products segment manufactures dust, fume, mist collectors, compressed air purification systems, gas and liquid filtration for food, beverage, industrial processes, air filtration systems for gas turbines, and specialized air and gas filtration systems for applications including hard disk drives and semi-conductor manufacturing and sensors, indicators, and monitoring systems. It sells the products of this segment to various dealers, distributors, OEMs, and end users. As of 2020, engine products accounted for 67%, and industrial products accounted for 33% of the company's total sales. The company operates its business across U.S., Europe, Middle East and Africa, Asia Pacific, and Latin America. The majority of company's revenue is generated from sales to customers within U.S. As of July 2020, the company had 12,400 employees worldwide.

• Mann+Hummel - Mann+Hummel GmbH was founded in 1938 and is headquartered in Ludwigsburg, Germany. The company operates through two business segments, namely the transportation segment and the life sciences and environment segment. Its transportation business segment comprises original equipment & aftermarket business units. Through this segment, the company serves automotive industry with air filter systems, intake systems, liquid filter systems, and plastic components. Its life sciences & environment business segment is classified into air filtration and water solutions business units. Through this segment, the company manufactures filters for indoor and outdoor spaces, industrial applications, and stationary and mobile air cleaners with HEPA filters for the safe separation of viruses, bacteria, and other microorganisms. In 2020, it generated a revenue of 92% from transportation business segment and a revenue of 8% from life sciences & environment business segment.

• Cummins Inc. - Cummins Inc. was founded in 1919 and is headquartered in Columbus, Indiana, U.S. Its operations are classified into five business segments, namely engine, distribution, components, power systems, and new power. The company's engine business segment manufactures diesel and natural gas-powered engines for automotive, construction, marine, rail, oil & gas, defense, and agricultural markets. In contrast, distribution business segment provides sales and support to a wide range of products and services including power generation systems and heavy-duty and mid-range engines designed for on- and offhighway use. The company's components business segment supplies products for engine and power systems segments, including after treatment systems, turbochargers, transmissions, filtration products, electronics, and fuel systems for commercial diesel and natural gas applications, whereas the power systems segment manufactures and sells diesel and natural gas high-speed engines, power generators, A/C generators, and alternator products. Its new power segment manufactures electrified power systems ranging from fully electric to hybrid subsystems including battery, fuel cell, and hydrogen production technologies. In 2020, the company had generated 41% of the total sales from engine business, 36% of total sales from distribution business, 31% of total sales components business, and 18% of total sales from power systems business segment. It sells its products in more than 180 countries. As of December 2020, it had 57,825 employees, and customer centers in 190 countries.

• Sartorius AG - Sartorius AG was founded in 1870 and is headquartered in Göttingen, Germany. Its operations are classified into two business divisions, namely bioprocess solution division and lab products & services division. The company’s bioprocess solutions segment manufactures filters for sterilization of biopharmaceutical media, single-use bags for cell cultivation & storage of biopharmaceuticals, and membrane adsorbers for purification in bioprocesses, whereas the lab products and services segment provides instruments, consumables, and services for laboratories including laboratory balances, laboratory water systems for storage of purified water, electronic pipettes, filter systems for sample preparation, and membrane filter systems for sterility testing of parenteral. In 2020, the company generated 35% of the total revenue from the Americas, 40% from EMEA, and 25% from Asia Pacific, whereas bioprocess solutions division accounted for 76% and lab products & services segment accounted for 24% of total company’s sales. As of 2020, it had approximately 10,600 employees, customer centers in 190 countries, and production and sales sites in 60 countries.

• Danaher (Pall Corporation) - Danaher (Pall Corporation) was founded in 1969 and is headquartered in Washington, D.C., U.S. It comprises more than 20 operating companies, which operate through three business segments, namely life sciences, diagnostics, and environmental & applied solutions. The company’s life sciences segment offers a broad range of instruments and consumables that are primarily used by customers to study the basic building blocks of life, including genes, proteins, metabolites, and cells, in order to understand the causes of disease, identify new therapies, and test and manufacture new drugs and vaccines, whereas diagnostics segment offers analytical instruments, reagents, consumables, software, and services that hospitals, physicians’ offices, reference laboratories, and other critical care settings use to diagnose disease and make treatment decisions. Its environmental & applied solutions segment offers products and services that help protect important resources and keep global food and water supplies safe. As of December 2020, Danaher Corporation had 69,000 employees and facilities in over 60 countries, including 239 significant administrative, sales, research and development, manufacturing, and distribution facilities. These facilities are located in the U.S. in over 20 states and outside the U.S., primarily in Europe, Asia, South America, the rest of North America, and Australia.

• Camfil - Camfil was incorporated in 1963 and is headquartered in Stockholm, Sweden. It provides industrial and commercial systems for air filtration and air pollution control that improve equipment productivity and minimize energy use. Its operations are classified into four business segments, namely filtration solutions, air pollution control, power systems, and molecular contamination control. Filtration solutions business unit offers a wide range of high-quality, energy-efficient filters for public and commercial buildings. These products deliver clean air for high indoor air quality (IAQ), which is free from harmful pollutants, dust, dirt, allergens, radiation, molecular gases, and life-threatening viruses. Air pollution control business unit produces dust, fume, and mist collectors for industrial exhaust-air cleaning. These products are widely used in metalworking, pharmaceutical, automotive, food & beverage, and mining industries.

• American Air Filter Company, Inc. - American Air Filter Company, Inc. was founded in 1920 and is headquartered in Louisville, Kentucky, U.S. In April 2016, American Air Filter U.S. Co. Inc. (AAF International) acquired Flanders Corp. U.S. to form AAF Flanders. It designs and manufactures filters for three business sectors, namely residential, commercial & industrial, and power & industrial sectors. The company has production, warehousing, and distribution facilities in 22 countries across 4 continents. It operates as a subsidiary of Daikin Industries, Ltd., Japan, which specializes in the manufacturing of air conditioners. The company provides innovative gas and air filtration solutions designed to remove and control airborne particulates and gaseous contaminants. Its products are used in nuclear applications, refineries, wastewater treatment, data centers, commercial buildings, microelectronics, schools & universities, pulp & paper, food & beverage facilities, engine air filtration, agriculture & tobacco, and pharmaceutical production units. The company also specializes in real-time monitoring of filters, filter testing services, air filtration audit, system cost optimization, and lab services. It has ISO class 8 certification to manufacture filters.

• Sofegi SpA - Sofegi SpA was established in 1863 and is headquartered in Milan, Italy. It is a global supplier of original parts for automotive industry. The company designs, develops, and produces filtration systems and flexible suspension components, as well as air management and engine cooling systems. Its operations are classified into three business units, namely air and cooling business unit, filtration business unit, and suspension business unit. Air and cooling business unit manufactures high tech plastic automotive components in direct liaison with engineering offices of car engine manufacturers, whereas filtration business unit manufactures filter products including oil, petrol, diesel fuel, and air and cabin air. Its suspension business unit produces a complete range of products, including helical springs, stabilizer bars, torsion bars, stabilinks, leaf springs, and track tensioners, engineered in close collaboration with automotive manufacturers. These products are designed for use on cars, light and heavy commercial vehicles, earthmoving equipment, armored vehicles, and rolling wagons. The group is listed on the Milan Stock Exchange (MES) in STAR segment and is a partner to the world’s leading manufacturers of cars, commercial vehicles, and earth-moving equipment. Sofegi SpA has a presence in 23 countries across 4 continents, with 40 manufacturing sites, and employs 6,026 employees as of December 2020

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Filters Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2023, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Filters Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.