Pleated filters are essential air filtration devices extensively used in heating, ventilation, and air conditioning (HVAC) systems. Pleated filters are designed with a zig-zag or accordion-style fluted media which offers increased surface area for capturing airborne particles like dirt, dust, pollen, smoke, and other allergens. Pleated filters cater to various commercial and residential applications including air purifiers, air cleaners, heating and cooling systems, air ducts and fans. Their improved filtration efficacy as compared to standard rolled or boxed filters makes pleated filters a preferred choice for maintaining good indoor air quality.
The pleated filters market is estimated to be valued at USD 13.5 Billion in 2024 and is expected to reach USD 18.16 Billion by 2031, growing at a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031.
Key Takeaways
Key players operating in the pleated filters are 3M Company, Parker Hannifin Corporation, AAF International, Freudenberg Filtration Technologies, Dafco Filtration Group.
Growing health awareness among consumers regarding airborne pollutants and their ill-effects has boosted the demand for pleated filters in recent years. Strict regulations pertaining to industrial emissions and air quality standards for commercial buildings have further propelled the Pleated Filters Market Growth.
Leading manufacturers have enhanced their global footprint through mergers and acquisitions. Expanding product portfolios with innovative designs focusing on energy efficiency and long service life have also helped key players strengthen their global stronghold.
Market Key Trends
The development of antimicrobial treated pleated filters is one of the key trends witnessed in the pleated filters market. Antimicrobial treated filters help inhibit the growth of microbes, allergens, mold and bacteria on the filter media, improving the quality of recirculated air. They are gaining popularity across various end-use industries due to their hygienic and health benefits. The focus on energy-efficient and sustainable products is another notable trend, with the introduction of high-efficiency filters engineered to reduce energy costs whilst maintaining effective air filtration. This assists in reducing the carbon footprint of HVAC systems and improves profitability for commercial users.
Porter's Analysis
Threat of new entrants: Low startup costs and requirement of low technology makes threat of new entrants moderate. Existing brands have strong brand image and distribution channels.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and undifferentiated products. They can easily switch to substitute products.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials and commoditization of raw materials.
Threat of new substitutes: Threat from new substitutes is moderate as performance of new filters can be marginally better than existing ones.
Competitive rivalry: Intense competition exists among existing players due to large number of global and regional players. Price wars and new product launches increase competitive rivalry.
Geographical Regions
North America dominates the pleated filters market, accounting for around 40% of the global market share in terms of value, owing to high demand from HVAC and transportation industries in the US and Canada.
The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period, mainly driven by increasing industrial and construction activities along with rapid urbanization in countries such as China and India. Demand for pleated filters is increasing from food & beverage, pharmaceutical and semiconductors industries.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
