The global HVAC filters market is estimated to be USD 3.5 billion in 2021 and is projected to reach USD 4.5 billion by 2026, at a CAGR of 5.0% from 2021 to 2026. The driving factor for the HVAC filters market is increasing demand for HVAC systems, growing awareness about indoor air quality, and government regulations and policies for efficient filtration. Further, increasing investments in the construction sector and technological advancements in HVAC filters are expected to offer significant growth opportunities to manufacturers.
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3M Company (US), Parker-Hannifin Corporation (US), Camfil AB (Sweden), Mann+Hummel (Germany), American Air Filter Company, Inc. (US), Donaldson Company, Inc. (US) among others, are the leading HVAC filters manufacturers, globally. These companies adopted new product launches, and agreements & contracts as their key growth strategies between 2019 and 2021 to earn a competitive advantage in the HVAC filters market.
The 3M Company, formerly known as the Minnesota Mining and Manufacturing Company, was established in 1902. The company operates through five business segments: safety and industrial, transportation and electronics, health care, consumer, and corporate and unallocated. The consumer business segment serves retail, online retail, office retail, office business-to-business, home improvement, drug and pharmacy retail, and other markets. Through this segment, the company offers filters for HVAC systems under the brand name Filtrete. Apart from this brand, the consumer business segment also provides commercial HVAC v-bank filters with gaskets. The 3M Company has a global presence, with manufacturing facilities, sales offices, and distribution centers in over 70 countries.
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Parker-Hannifin Corporation is a Fortune 250 global leader in motion and control technologies. Products offered by the company include aerospace materials, electromechanical filtration, fluid and gas handling equipment, hydraulics & pneumatics process controls, sealing media, and shielding media. The company is involved in two business segments: Diversified Industrial and Aerospace Systems. It offers HVAC filters under the HVAC filtration division under the Diversified Industrial business segment. The division includes aerospace filters & systems; air pollution control & dust collection systems & filters; compressed air & gas treatment solutions; engine fuel, oil, air & closed crankcase ventilation; filtration systems; filtration & purification systems; fluid condition monitoring systems; gas turbine air inlet filters; and HVAC filters; among others. The company’s HVAC filters cater to various niche markets, such as agriculture, power generation, and paint spray booths under the brand names, Airguard, ATI, and Purolator. With over 100 divisions and 336 manufacturing sites, the company has a presence in more than 50 countries.
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