World Filters Market
- July 2014
- 609 pages
Global demand for filters is projected toincrease 6.9 percent annually to $79.9billion in 2018. This growth rate is anacceleration from the gains of the 2008-2013 period, reflecting in part the relativelylow 2013 bases for a number ofdeveloped countries. The global recessionof 2009 restrained manufacturing activityand capital investments, but economicrecovery in several key markets through2018 will boost gains.
Developing countries to seemost rapid growth in demand
Countries such as China, Indonesia,India, Turkey, and others with large,developing industrial bases and nascentregulatory schemes are expected to seethe fastest growth. Filter sales in developingareas will be driven by rising percapita incomes, which will bolster keyfilter markets such as motor vehicles,motorcycles and consumer applications.Rising environmental standards andincreased attention paid to food andbeverage safety regulations, along withbetter enforcement, will also requireadditional investment in filters.Economic development and populationgrowth will result in the increased needto tap poor quality water resources in anumber of regions. In addition, risinginvestment in modernizing water,wastewater, and power generationinfrastructure will benefit filter demand,particularly in developing economies.However, in many of the least developedcountries, especially in Africa and partsof Asia, growth will be limited by lack ofadequate funding for major infrastructureprojects, and local corruption thatimpedes progress.In 2013, the US was the largest nationalmarket with 19 percent of global sales,followed closely by China with 18 percentof global sales. Japan and Germany,each with approximately six percent ofall global sales, are also leading nationalmarkets for filters. China is projected topost the largest growth of any nationalmarket, with demand growing 12 percentannually between 2013 and 2018.
Manufacturing to be fastestgrowing market for filters
Manufacturing is expected to be thefastest growing market for filters through2018, benefiting from an improvement inmanufacturing activity coupled withmore stringent pollution control regulationsin a number of nations. The utilitiesmarket will post above average gains,stimulated by rising global demand forwater and electric utility services, whichwill boost construction of new powerplants, water and wastewater treatmentfacilities, and waste incinerators.Transportation equipment will remain thelargest single market for filters in 2018.This market will also register solid gains,supported by continued growth in theoverall number of motor vehicles in useand continued growth in motorcycleownership.Sales to the much smaller consumermarket will be fueled by concerns aboutthe quality of indoor air, as well as byefforts to improve drinking water quality,particularly in rural and semi-rural areaswhere municipal supplies are not readilyavailable. Rising per capita incomes willalso boost gains by helping make filtersmore affordable.
Details on these and other findings are contained in the upcoming industry study, World Filters. It presents historical demand data for 2003, 2008 and 2013, as well asforecasts for 2018 and 2023 by product,market, worldwide region and for 23countries. In addition, the study considerskey market environment factors, assessesthe industry structure, evaluates companymarket shares and profiles 42 globalindustry participants such as Donaldson,DENSO, MANN+HUMMEL, MAHLEInternational and Parker-Hannifin.