| Product Code | FED00142 |
|---|---|
| Publication Date | November 2009 |
| Publisher | Freedonia Group |
| Product Type | Report |
| Pages | 480 |
Global demand for filters is forecast to expand 5.1 percent per year through 2013 to $58.3 billion. Market gains in the Africa/Mideast region, developing parts of the Asia/Pacific region, Eastern Europe and Latin America will considerably outpace increases in the US, Western Europe and Japan through 2013. Sales advances in developing areas will be driven by healthy economic growth, ongoing industrialization efforts and rising personal income levels, bolstering manufacturing output, building construction spending, and motor vehicle and motorcycle ownership levels. Stricter and better-enforced environmental and product purity rules in a number of these countries will also contribute to increases in filter demand, as will new household formations and additional population growth. China will post the biggest gains of any national market, with sales growth also expected to be strong in India and Russia, as well as in lower-volume markets like Indonesia, Turkey, Iran, South Africa and Brazil.
Product demand will climb at a more moderate rate in developed nations, fueled by generally favorable economic conditions, higher income levels and the implementation of more stringent environmental standards, boosting associated filter sales. Nevertheless, these mature markets will remain the most intensive users of filters in per capita terms in 2013, reflecting the advanced nature of their economies, as well as the large numbers of filter-containing equipment in use, supporting substantial aftermarket filter demand.
Air purification filters will register the strongest sales increases through 2013. Demand will be spurred by rising manufacturing and mining activity, a worldwide trend toward urbanization, the construction of additional power generation and waste incineration facilities, and the enactment of tougher pollution control regulations in a number of areas.
Sales of fluid filters will climb at the next fastest pace, stimulated by growth in nonagricultural water withdrawals as the world economy continues to expand, the implementation of stricter water pollution control standards and an ongoing trend toward urbanization, resulting in greater spending for water and wastewater treatment. However, ICE and related filters will remain by far the largest product segment. Demand for these items will be driven by ongoing growth in the number of motor vehicles and other ICEpowered equipment in use (most notably in China), further increases in motor vehicles output and climbing demand for products like cabin air and diesel particulate filters.
Transportation equipment represents the largest single market for filtration products, but the consumer and utility markets will grow somewhat more quickly through 2013. Consumer product sales will be fueled by concerns about the quality of indoor air and drinking water supplies, population growth in rural and semi-rural areas where municipal supplies are not available, and rising per capita incomes in most parts of the world, helping make consumer filters more affordable. Utility filter market gains will be spurred by growing global demand for water and electric utility services, leading to the construction of numerous new power plants, water and wastewater treatment facilities, and waste incinerators.
Suppliers of transportation equipment filters will benefit from an expansion in the overall number of motor vehicles, motorcycles and other transportation equipment in use, as well as from further growth in transportation equipment production.
This new Freedonia industry study, World Filters, is available for $6100. It presents historical demand data (1998, 2003, 2008) plus forecasts for 2013 and 2018 by product, market, world region and for 26 countries. The study also considers key market environment factors, assesses company market share and profiles global industry competitors.
The Freedonia Group Incorporated is a leading international industry study/database company. Founded in 1985, Freedonia now publishes over 125 studies each year, covering such areas as building materials, chemicals, health care, packaging, pharmaceuticals, plastics, security and many other industries. Studies cover entire industry sectors as well as key niche markets. Each study includes such valuable intelligence as growth markets and products, market share, product analyses and forecasts, market analyses and forecasts, and company profiles.
This study analyzes global supply and demand for mining equipment. The following products are included: surface mining machinery (including equipment such as mining trucks, loaders, excavators, draglines, buckets, etc.) , underground mining machinery, crushing/pulverizing/screening equipment, drills and breakers, mineral processing machinery, and various parts and attachments. However, it should be noted that some other types of products can be used at mining sites, and some if not most national statistical organizations classify one or more of these equipment categories as "mining equipment." These products, which are excluded from the scope of this report, include oilfield equipment and general purpose material handling equipment. Also excluded is used mining machinery.
Historical data for 1998, 2003 and 2008 and forecasts to 2013 and 2018 are provided for shipments (total), demand (by product type and application) and net exports (total) of new mining equipment on a country-by-country basis, valued in millions of current US dollars, including inflation. The term "demand" actually refers to "apparent consumption" and is defined as shipments (also referred to variously as "production," "output" or "supply") from a country's indigenous mining equipment manufacturing facilities plus imports minus exports. It is used interchangeably with the terms "market," "sales" and "consumption." Data on mining equipment supply and demand are derived from differing sources and developed from statistical relationships. As a result, variations are commonplace in this type of international reporting and, consequently, statistics presented in this study are historically consistent but may differ from other sources. Variances may occur because of definitional differences, undistributed exports, inventory accumulation and goods-in-transit. To reduce the impact of such discrepancies, total world mining equipment imports and exports have been assumed to balance in any given year.
In addition, major global mining machinery manufacturers are identified and profiled, and the key competitive variables are discussed. The entire report is framed within the world mining equipment industry's economic, technological and market environments, and therefore environmental variables affecting mining machinery supply/demand patterns are emphasized. World mining equipment market share data by company presented in the "Industry Structure" section are estimated based on consultation with multiple sources. In addition, tabular details may not always add to totals due to rounding.
Macroeconomic and demographic indicators presented in this study were obtained from The Freedonia Group Consensus Forecasts dated June 2009. Gross Domestic Product (GDP) historical data are derived from the national income and products accounts from the Organisation for Economic Cooperation and Development (OECD) for its member countries, from the European Bank for Reconstruction and Development (EBRD) for its member countries, and from the International Monetary Fund for its member countries that are not part of the OECD or EBRD. Sources of GDP estimates for other countries are based on information from the World Bank and a variety of sources including the countries' statistical bureaus. GDP forecasts are developed from a consensus of public agencies and private firms.
All estimates of gross domestic product and components of GDP are done in terms of constant purchasing power parity in a benchmark year (2007) that is one year before the base year (2008) used in this study. Purchasing power parity GDP estimates for the benchmark year are obtained from the OECD, Eurostat, the World Bank, the International Monetary Fund, the US Central Intelligence Agency and selected other sources. These purchasing power parity GDP estimates for the benchmark year are based on gross domestic product data expressed in the individual countries' local currency, which are then converted to US dollars by valuing each country's output at US prices in the benchmark year. This approach values the same physical output at a consistent price for all countries, thereby reducing the distorting influence of different price levels in the different countries. The alternative approach of using exchange rates to convert local currency GDP to US dollars would tend to overvalue the output of countries with high average price levels and undervalue the output of countries with low average price levels, because exchange rate conversions only partially reflect the relative prices for goods and services that are domestically consumed and invested. Furthermore, factors other than relative prices, such as demand and supply in currency markets, interest rates and capital flows, affect exchange rates.
Once the GDP values for a country are estimated for the benchmark year, we then calculate inflation-adjusted GDP for all other years for that country based on historical and forecast growth rates of GDP expressed in inflation-adjusted units of that country's local currency. This approach ensures that the GDP series for any given country is an accurate index of changes in inflation-adjusted GDP for that country. However, it also implicitly assumes that the price structures across countries do not change from those of the benchmark year. Therefore, caution should be used in comparing the relative GDP of countries in years other than the benchmark year. If the ratio of prices across two countries in a given year differs from the ratio of prices across those countries in the benchmark year, then the change in the relative sizes of those two economies as measured will not accurately reflect changes in output.
The benchmark year is chosen to be one year prior to the base year for the study for reasons of data availability. One benefit of this choice is that the ratio of prices across countries in the base year is usually similar to that in the benchmark year. Therefore, the ratio of real GDP between two countries in the base year of 2008 is generally a reasonably accurate representation of the relative sizes of their economies.
A wide variety of primary and secondary sources were used in the compilation of this report. These include government statistical agencies, trade associations such as the Committee for European Construction Equipment and Japan Construction Equipment Manufacturers Association, industry experts, financial sources, and construction machinery company sources. The US Bureau of the Census, United Nations, OECD, World Bank, International Monetary Fund, European Union and various national government statistical publications were among the public sector data sources utilized.
Freedonia Group Industry Studies covering related topics include #2571 Mining Equipment in China (December 2009), #2543 World Construction Machinery (September 2009) and #2514 World Power Tools (June 2009).
A wide variety of primary and secondary sources were used in the compilation of this report. These include national government statistical agencies, trade associations, foreign embassies, industry experts, financial sources and mining equipment company sources. Primary information was gathered through consultations with officers and marketing personnel of participating companies. Secondary data and background information were obtained from various trade and other publications, including Construction Equipment, The CIA Factbook, ENR, Engineering & Mining Journal, Mining Journal and Heavy Construction News. Corporate annual reports, SEC Form 10-K filings, product literature and other company information were also used in framing the industry and market environments and as input for market size assessments.
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