The Pleated Filters market is projected to reach USD 15.18 billion by 2030. The sector expects to be powered by increased demand for air filtration across the manufacturing sectors is expected to drive market growth in the pleated filters over the coming years. The factors such as growing environmental issues and a strict regulatory system have led to companies investing heavily in techniques and processes for air filtration. Also, the strict regulations and policies that regulate water treatment for both domestic and industrial waste-water are expected to stimulate the market for pleated filters.
Improving living status has increased disposable earnings, and increasing knowledge of health are some of the factors identified which are expected to drive market growth. The growing need for the implementation of air pollution control equipment anticipates a drive to demand Pleated Filters, especially in developing regions. The ever-increasing health issue, especially among urban youth, is expected to contribute significantly to market growth.
Major players are investing in research and development activities and continually introducing new products and services on the market to maximize the value of the customer's lifetime and thereby contribute to market growth. Furthermore, the firms are also interested in the creation of innovative sustainable products and technologies that give improved performance and better value to the clients.
The COVID-19 pandemic is expected to interfere somewhat with the growth of the industry. The leading actors in the industry are skeptical of the market's future and try to redesign their strategies to support the challenge. The automotive industry was badly affected by the pandemic, and many large car manufacturers were forced to stop both production and other operations. There is a shortage of resources in different parts of the planet as a result of regular lockdowns. COVID-19 has influenced foreign commerce, exports and imports, and has also contributed to a major decrease in demand in the industry. The large corporations operating on the market try to clear their stock and concentrate on keeping their cash balances. This pandemic also offers an opportunity to grow the industry, in a sense, because people are aware of the health and safety issues and are therefore focused on the adoption of environmentally friendly and fuel-efficient cars. It is likely that people's average disposable income is reduced and producers are trying to develop innovative solutions, which can meet customer requirements at much lower cost.
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Further key findings from the report suggest
- The higher durability coupled with, the wider surface area for filtration, air filters account for the majority market share. A Significant amount of demand side has been projected to come from the mainly HVAC-led market segment.
- Pleated filters are more sturdy and efficient than standard fiberglass filters. They also cost less than electrostatic filters, which are super-efficient.
- The industry expects to be powered by increasing incidence of airborne diseases, as well as rising rates of rapid urbanization hazardous emissions. Increased disposable income and increased health awareness are also some of the factors listed which are expected to stimulate market development.
- All of the major market players have invested heavily in RD initiatives in recent years, leading to the invention of many innovative products. Major players aim to enhance their product portfolio through strategic mergers and small and medium-sized enterprise acquisitions. So an intense rivalry among players is expected in the coming years.
- In September 2018, Dexwet Holdings Company, the parent company of Austro-American filter maker dexwet International AG, acquired German air purification equipment manufacturer Aludo. Aludo 's takeover marks the beginning of the development of new high-quality air-purification devices.
- Key participants include Clarcor Air Filtration, Denso Corporation, Troy Filters Ltd., Airex Filter Corporation, Delta filtration, Koch Filter Corporation, 3M Company, and Midwesco Filter Resources Inc., among others.
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Reports and Data segmented the global Pleated Filters industry report based on Product Type, Material Type, and applications for this study:
Product Type Outlook (Revenue, USD Billion; 2020-2030)
- Air Filters
- Oil Filters
- Food Beverage Filters
Material Type Outlook (Revenue, USD Billion; 2020-2030)
Application Outlook (Revenue, USD Billion; 2020-2030)
- Chemical Petrochemicals
- Paints Coating
- Oil Gas
- Food Beverage
Regional Outlook (Revenue, USD Billion; 2020-2030)
- North America
- Asia Pacific
- Latin America
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