Global demand for filters is projected to increase a healthy 6.2 percent annually to $80.0 billion in 2018. Advances will be supported in general terms by an improved outlook for manufacturing activity and rising consumer incomes. Ongoing investments in water, wastewater, and power generation infrastructure will also support filter demand worldwide, particularly in developing countries. In 2013, the US and China were the largest national markets for filters, with 21 and 14 percent of global demand, respectively. By 2018, China’s filter market will be nearly as large as that in the US and by 2023 China will surpass the US. In addition, Chinese filter demand will be $6.1 billion higher in 2018 than in 2013, representing approximately 30 percent of the global increase.
Through 2018, the bulk of sales growth will come from areas with large, developing industrial bases and nascent regulatory schemes, both of which provide opportunities for filter producers. Filter market advances will be driven by the double-digit annual gains forecast for China and Indonesia, as well as increases of nearly 10 percent per year projected in India and above average growth in a number of other rapidly developing economies. In addition to general macroeconomic trends, factors supporting filter markets in these countries include rising consumer incomes and increases in motor vehicle ownership. Furthermore, filter demand will be boosted by efforts to reduce air and water pollution, such as via more stringent vehicle emissions standards in China and India that approach those issued in Western Europe. In addition, Indonesia is planning to expand water service from only 20 percent of the
population in 2000 to 60 percent by 2015.
Worldwide gains will also be boosted by accelerating growth in filter demand in more developed markets, including the US, Japan, and much of Western Europe. Although growth rates will remain well below the global average, the improvement provides significant opportunities due to the large size of these markets. Japan and Germany followed China as the third and fourth largest markets, with seven and six percent of 2013 global sales, respectively. Filter demand in these and other developed countries will be boosted by improving economic conditions and relatively stringent and well enforced environmental standards. Furthermore, these regions will remain the most intensive users of filters in per capita terms, and the large existing base of filter-containing equipment in use will support aftermarket filter demand.
This study analyzes the $59.1 billion world filter industry. It presents historical demand data for 2003, 2008 and 2013, and forecasts for 2018 and 2023 by product (internal combustion engine and related, fluid, air), market (e.g., transportation equipment, manufacturing , utilities, consumer), world region, and for 22 countries.
The study also considers market environment factors, details industry structure, evaluates company market shares and profiles 43 industry players, including MANN+HUMMEL, MAHLE and Donaldson.