Manufacturing and utilities will be the fastest growing markets through 2015, benefiting from an improvement
in manufacturing activity and rising global demand for water and electric utility services.
US demand to rise 7.6%
annually through 2015
Global demand for filters is projected to
increase a healthy 7.6 percent annually
to $65.9 billion in 2015. This growth rate
is an acceleration from the gains of the
2005-2010 period, reflecting in part the
reduced 2010 bases of the developed
countries. Economic recovery in several
key markets through 2015 will boost
gains as the global recession of 2009
restrained manufacturing activity and
capital investments.
China, India among
fastest growing markets
Countries such as China, India, Indonesia
and others with large, developing
industrial bases and nascent regulatory
schemes are expected to see the fastest
growth. Filter sales in developing areas
will be driven by rising per capita incomes,
which will bolster key filter
markets such as motor vehicles and
motorcycles. Rising environmental
standards and increased attention paid
to food and beverage safety regulations,
along with better enforcement, will
require additional investment in filters.
Fast growing economic activity in
developing areas will result in the
increased need to tap poor quality water
resources, and rising investment in
modernizing water, wastewater and
power generation infrastructure, all to the
benefit of filter demand. However, in
many of the least developed countries,
especially in Africa and parts of Asia,
growth will be limited by lack of adequate
funding and local corruption that impedes
progress.
In 2010, the US was the largest national
market with 20 percent of global sales,
followed by China and Japan, with 12
and 9 percent of global sales, respectively.
China is projected to post the
biggest growth of any national market,
with 22 percent of projected global filter
gains between 2010 and 2015.
Filter demand in developed countries will
be fueled by improving economic
conditions, higher income levels, and
relatively stringent and well-enforced
environmental standards. North America
and Western Europe will record similar
gains through 2015, rebounding from low
2010 bases. Although representing
mature markets, these regions will
remain the most intensive users of filters
in per capita terms, reflecting the advanced
nature of their economies. The
large numbers of filter-containing
equipment in use will further support
substantial aftermarket filter demand.
North America, Western Europe and
Japan are fairly comparable in terms of
the maturity of their water and power
generation infrastructures, regulatory
oversight, and the technological sophistication
of local manufacturing, all of
which will boost sales of aftermarket
filters. In addition, ongoing emphasis on
water conservation and air pollution
control will aid filter sales growth.
Study Scope
This study analyzes the $45.6 billion world filter industry, with forecasts for 2015 and 2020 by product (internal combustion engine and related, fluid, air), market (e.g., transportation equipment, manufacturing, utilities, consumer), world region and for 23 countries.
The study also considers market environment factors, details industry structure, evaluates company market shares and profiles 42 industry players, including MANN+HUMMEL, Donaldson and MAHLE International.
