The trajectory of the Air Filters Market is poised for substantial advancement, with an impressive projected growth from its 2023 valuation of US$ 16.53 billion to a robust US$ 30.33 billion by the year 2033. This ascent is underpinned by a commendable Compound Annual Growth Rate (CAGR) of 6.36%, delineating a journey steered by factors such as burgeoning health consciousness and imperative regulatory measures aimed at ameliorating air quality.

At the core of this market's expansion lies the escalating recognition of health hazards attributed to air pollution, manifesting in a staggering toll of more than 7 million premature fatalities worldwide each year. This sobering reality serves as a driving force behind the amplified pursuit of efficient air filtration systems.

Within the array of air filters available in the market, prominent categories include HEPA filters, activated carbon filters, electrostatic filters, UV-C filters, among others. HEPA filters, renowned for their exceptional efficacy in removing particles as diminutive as 0.3 microns, stand as the prevailing choice. In the landscape of 2022, the HEPA segment garnered a notable share of the industry, constituting 40.3% of the global revenue pie. This discernible market preference reflects the trust placed in HEPA filters' ability to ensure air purity and enhance overall well-being.

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The Role of Air Purifiers in Commercial Settings and Overcoming Challenges:

Air purifiers are used in schools, malls, conference centers, workplaces, hospitals, hotels, theaters, and other commercial settings such as recreation centers and amusement parks.

Rising urban air pollution levels pose challenges for local governments. As more than 70% of the millennial population works indoors, an increase in cases of fine dust and infectious disease has been noticed.

This growth is due to increasing pollution levels and rising demand for air filters in residential and commercial areas, with further expansion expected as public awareness of the health risks associated with air pollution increases.

However, technological limitations to the air filters combined with low awareness among the population may act as a barrier to market expansion. Nevertheless, rigorous research and development activities with constant support from regulatory authorities are more likely to liquidate these challenges.

Key Takeaways:

Dust collectors are gaining ground and are anticipated to account for more than 28% of revenue in 2022 due to their ability to control air quality.
MIS collectors, baghouse filters, and cartridge filters are expected to support market expansion in addition to having a sizable air filter market share.
In 2022, the commercial segment took control of the sector, accounting for 57.0% of global revenue.
The North American air filter market is expected to be worth US$ 9.63 billion by 2033, at a CAGR of 6.3% during the forecast period.
The European market is expected to record a consistent revenue CAGR of 6.4%.
FMI predicts that the India air filter market is likely to record a CAGR of 11.97% during the forecast period and is likely to reach a market valuation of US$ 1,966.71 million by 2033.
Competitive Landscape

Prominent key players are focusing on acquiring mid-sized companies to expand their global presence. For example, Daikin Industries, Ltd. subsidiaries AAF and Nippon Muki Co. Ltd. are focusing on developing product portfolios for applications in engineering fields, factories, and buildings, among others. Furthermore, market participants are focused on producing effective filters at low manufacturing costs.

Recent Developments

PURAFIL, INC. installed 'PuraShield Smart 1000 portable filtration systems' in September 2020 to improve indoor air hygiene at Northwestern University Athletics & Recreation. It is a multi-stage original filtration solution that removes nearly 99.99% of aerosols from the air, including bacteria and viruses.
MANN+HUMMEL and its subsidiary Tri-Dim Filter Corporation began supplying HEPA Filters in Ford respirators in April 2020. Germs, microbiological contamination, and viruses are reliably removed from the supply air by these H13 HEPA Filters.
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Key Segments Covered in the Market Report

By Type:

Cartridge filters
Dust collector
HEPA filters
Baghouse filters
Others (Mist filters)
By End User:

Residential
Commercial
Industrial
By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific Excluding Japan (APEJ)
Japan
The Middle East & Africa (MEA)