The ever increasing environmental pollution and rising environmental concerns have resulted in an increase in the usage of filters in the recent years. The U.S. and Europe together dominate the global market for filters, but China is expected to show a double digit growth rate in the filters market through 2018. The healthy growth in China is supported by an increase in the demand for motor vehicles and in transportation equipment production.
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The global filters market is driven by a sharp rise in per capita incomes resulting in an increased investment in the construction sector. Growth of the automobile industry, owing to which there has been an increase in the number of automobile owners, has further boosted the growth of the filters market. Moreover, it is expected that the demand for usage of filters will increase at rapid rates due to a sharp rise in the output of pharmaceuticals, chemicals, and HVAC equipment. In addition, favorable government policies across the world regarding the promotion of energy conservation and emission reduction are expected to increase the usage of filters.
The increasing use of pulse width modulation (PWM) techniques as well as the entry of active front-end rectifiers along with their impact in several applications is likely to restrain the growth of the filters market. Low awareness about the competencies of filters and the advantages that can be gained on installing them are holding back the growth of the market.
The market for filters is segmented on the basis of product, power range, and geography. The global market for filters is segmented on the basis of product range into two main categories - active filters and passive filters. The global market for filters is also segmented on the basis of power range into three main categories - low voltage filters, medium voltage filters, and high voltage filters. The market is further segmented geographically into North America, Europe, Asia Pacific, and the Rest of the World (ROW).
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