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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