Reports about poor air and water conditions are reaching global proportions. The growing need for air and water filters result from inadequate conditions of current air and water quality. We see evidence of the rising concern about clean air and safe drinking water demonstrated through various charities dedicated to addressing this dilemma internationally. Such concerns are invoking the immediate implementation of stricter air and water pollution regulations.
Together, the United States and Europe account for a major share of the global air filter and filtration equipment market. The demand for air filters in developing countries will outpace the type of mature growth in markets such as the United States, Japan and Europe. China is expected to supersede Japan by becoming the second largest market for air filtration equipment behind the U.S.
Recently, the Freedonia Group, a leading international business research company, released a market analysis about the increased demand for filters in China. They reported that by 2014 the demand for air and water filters in China is projected to grow by 13.5% annually to 66.2 billion Yuan (Chinese currency). Comparatively, this growth is approximately $10.2 billion in U.S. dollars. The increased demand in China is supported by a rapid growth in motor vehicle and other transportation equipment production, stocks, government policies that promote energy conservation and emission reductions. Sales of fluid filters will be fueled by the growth in non-agricultural water use and expanding urbanization. Sales of air filters are projected to single-handedly rise by 13.7% per year through 2014.
The demand for increased global usage of filters will be spurred by rising manufacturing output of HVAC equipment, metal products, building construction materials, chemicals and pharmaceuticals. Many of these manufactured products are either equipped with air filters or produced in manufacturing facilities with high air purification requirements. As income levels grow, more people in China will be able to afford water and air purification equipment for their homes. The growing demand for higher quality and extended life filters are likely to boost the overall market value.
Cutting edge technology along with innovation in air and water filtration media, product design, cost and efficiency will boost future growth. The outlook remains optimistic as consumer spending increases and the shift for better air and water filtration continues to make progress.