HVAC Filters Market Size, Share, Growth, Industry Trends, Outlook with Company Analysis, and Forecast

The HVAC filters market is expected to grow steadily by 2027, delivering a considerable CAGR, owing to the increasing consumer demand for clean air flow and the rising instances of airborne infections.
Attributing to the COVID-19 pandemic, several pharmaceutical industry players have been expanding their production capacities by setting up new facilities. These activities are creating immense demand for sophisticated HVAC systems.
Experts have opined that, when utilized efficiently, HVAC and other air filters could help reduce the circulation of air contaminants and viruses in a building or small spaces, even though they may not be able to prevent the spread of the virus entirely. This benefit of using HVAC filters will propel market growth significantly in the following years.
The HVAC filters market is categorized into different segments on the basis of product, application, and regional landscape.
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The pleated product sub-segment is projected to reach over USD 3 billion by 2027 growing at a CAGR of 7.4% over the forecast period. Pleated HVAC filters are expected to see a surge in adoption in the coming years as they are considered more energy efficient, involve lesser cost of maintenance and labor, and last longer than some other filter types, such as fiberglass.
Meanwhile, electrostatic filters are preferred as they are better for the environment because they can be reused, which makes them highly cost-effective, adding to its appeal. The electrostatic filters sub-segment is expected to grow at a CAGR of 6.8% through 2021 and 2027.
Other types of HVAC filter include UV light filters, washable filters, media filters, box filters, v-bank filters, and spun glass filters, among others. The others sub-segment was valued at over USD 650 million in 2020 and is expected to grow at a CAGR of 4.2% throughout the assessment period.
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In terms of application, HVAC filters have extensive scope in industrial, residential, and non-residential settings. These filters are crucial for filtering dust, pollen, and other small airborne particles from entering the room or any space where they are installed.
In the non-residential segment, the institution application sub-segment was valued at over USD 650 million in 2020 and is projected to grow at a CAGR of 6.9% over the forecast period.
Industrial applications of HVAC filters are commonly seen in the food & beverage, construction, and pharmaceutical sectors, and in livestock production facilities.
Global HVAC filters market from livestock production facilities application is expected to grow at a CAGR of 6.6% over the analysis timeline. HVAC filters are essential in these facilities as they help regulate insulation levels and ensure optimum ventilation.
Meanwhile, the overall HVAC filters industry from pharmaceutical application avenues is projected to reach a valuation of more than USD 1.2 billion by 2027.
Based on region, LATAM was valued at over USD 640 million and is estimated to grow at a notable CAGR of 5.4% throughout the forecast period. The regional market growth is driven by the increasing demand for HVAC filters in the sector, which is also boosted due to the presence of leading HVAC filter manufacturing companies in the region.
Meanwhile, the MEA region is expected to reach a valuation of over USD 1.8 billion by 2027. Growing greenhouse gas emissions, increasing instances of sand and dust storms in the region, and associated health concerns will contribute to the regional market growth significantly in the forecast time period.