Air Filters and Filtration Equipment: A Global Strategic Business Report
San Jose, CA (Vocus) October 25, 2010
The 2007-2009 economic recession has taken its toll on the air filters and filtration equipment market. Carbon emissions worldwide declined during the years 2008 & 2009, as a result of the recession induced decline in energy consumption and reduced industrial, manufacturing and commercial activity. Demand for air filters used in refineries, petrochemical plants, paper and pulp manufacturing plants, steel mills and chemical plants, therefore remained tranquilized. Several distortions in market conditions, such as, dramatic worsening in financial markets, tighter lending standards, rising borrowing costs, corporate budget cuts on air quality maintenance, reduced focus on equipment maintenance, and lower consumer spending on indoor air quality products, among others, have played instrumental roles in pushing the market’s sales into the red. Lack of easy access to credit and the ensuing decline in capital investments resulted in reduced focus on existing facility upgradation and new facility establishment, thus impacting sales of both new and replacement air filtration products. Widespread postponement, shelving, and cancellation of replacement purchases, has lengthened the average replacement cycle of air filters in industrial equipment/facilities. In addition, need for new installations of air filters in indoor building spaces declined as the recession, although temporarily, marginalized the importance accorded to clean air.
Financial hardships have lessened the focus on the environment both in the residential and industrial sectors. As current emphasis lies squarely on surviving the crisis, passion for indoor air quality and clean air technologies is cooling. HVAC air filters and automotive air filters have been especially impacted given the meltdown in commercial and residential construction activities, and the collapse of the automotive industry in the developed countries. Sharp declines in new buildings constructions, reduced spends on renovation projects, and decline in automobile production and sales worldwide, took the wind out of the market’s sails. With most key end-use sectors collapsing like a pack of cards, sales witnessed erosions over the last two years in most product markets.
Amidst the gloom, however, the outlook for the medium to long-term period remains encouraging. A prolonged cutback and skimping on air filtration products is seen as unlikely since air filters can have a very significant impact on energy consumptions, costs and carbon footprint. The scenario can be thrown into sharp relief by the fact that energy costs make up the largest component of the overall life cycle cost of an air filter. For instance, faulty, ill-maintained air filters can drive up operating costs of a HVAC system and hence energy costs in the process. Inadequate focus on air filtration also results in higher costs for companies in the long run, as poor air quality can negatively impact worker health and productivity leading to higher corporate healthcare coverage expenses. Additionally, non-adherence to air quality standards as legislated by governments could attract heft expenses in the form of penalties for manufacturing plants. Given, the aforementioned factors, a quick recovery is therefore seen as imminent. Key end-use sectors are therefore expected to look beyond the current short-term immediate need to reduce their overall costs, to investment wisely in air filters and filtration equipments.
As stated by the new market research report on air filters and filtration equipment, Europe and the US, together account for a major share of the global market. Segment wise, Cartridge Air Filters represents one of the fastest growing product markets with revenues projected to reach US$356 million by 2015. Demand for air filters in developing countries will outpace growth in mature markets such as US, European, and Japan. By 2015, China will supplant Japan to become the second largest market for air filter equipment behind United States. Market for Automotive Air Filters in Asia-Pacific is expected to surge at a CAGR of 4% through 2015. Future growth will be led by cutting edge technology innovation in filtering media, product design, efficiency, and cost structure.
Key players in the Air Filters and Filtration Equipment market place include 3M Company, Aerospace America Inc., Air Filter Service Company, Air Filtration Systems LLC, Airtech Japan Ltd., American Air Filter (AAF) International, BBA Filtration, Bruce Air Filter Company, Camfil Farr, Champion Laboratories, Inc., Clarcor, Inc., Purolator Products Air Filtration, Cummins, Inc., Cummins Filtration, Donaldson Co., Inc., Dust Free Inc., Filter Equipment Company Inc., Filtration Group Inc., Filtration Systems Products Inc., Filtrauto S.A., Flanders Corp., Precisionaire Inc., Freudenberg Group, Freudenberg Nonwovens L.P., Locker Air-Maze, Lydall Inc., Mann Hummel, Nordic Air Filtration A/S, Pall Corporation, Purafil Inc., SPX Corporation, Trion Inc., Waltz-Holst Blow Pipe Co, among others.
The research report titled "Air Filters and Filtration Equipment: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, challenges, competition, company profiles, mergers, acquisitions and other strategic industry activity. The report provides market estimates and projections in (US$) for major geographic markets such as United States, Canada, Japan, France, Germany, the UK, Italy, Asia, China, Latin America and rest of world. Product markets analyzed include Automotive Air Filters, Cartridge Air Filters, Electrostatic Air Filters, Fabric Air Pollution Filters, HVAC Air Filters, and Other Air Purification Filters.
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