[309 Pages Report] The global ring panel filters market is anticipated to be valued at US$ 15 Billion in 2022, forecast to grow at a CAGR of 5.2% to be valued at US$ 25 Billion from 2022 to 2032. A rise in disposable income, which leads to higher living standards, has resulted in an increase in demand for ring panel filters, resulting in the growth of the Ring Panel Filters Market.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | US$ 14 Billion |
| Projected Growth Rate (2022 to 2032) | 5.2% CAGR |
| Expected Market Value (2022) | US$ 15 Billion |
| Anticipated Forecast Value (2032) | US$ 25 Billion |
Ring panel filters are used in commercial buildings, industrial plants, hospitals, and paint spray booths, among other places. Ring panel filters have a number of advantages over traditional frame filters. These filters have a high capacity for dust collection.
Ring panel filters are composed of three distinct layers, the first of which serves as a high porosity impingement filter. In the second layer, strainers are used to prevent unloading or streaming. Ring panel filters are highly efficient and last three times as long as fiberglass disposable filters.
Growth in urbanization, which leads to increased demand for ring panel filters in places such as corporate offices and hypermarkets, is another important factor driving the global ring panel filters market. During the forecast period, the global ring panel filter market is expected to grow at a CAGR of 5.5%. The increasing demand for air quality control solutions across various industries and applications is driving growth in this market.
Furthermore, rising awareness of the advantages of using ring panel filters is fueling the growth of this market. The global ring panel filter market can be divided into two types: 2-ply, 3-ply, and more than 3-ply filters. Because of their high efficiency in removing particulate matter from air streams, 3-ply filters are expected to grow the most during the forecast period.
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The expanding automobile industry has a direct impact on market demand for ring panel filters. Rising pollution levels and the spread of airborne diseases are also major factors driving the market for ring panel filters. Various government initiatives aimed at environmental protection are also boosting the market for ring panel filters. For example, the United States Environmental Protection Agency has numerous resources to assist various industries in meeting the highest air quality standards; as a result, U.S. sales of air filtration systems such as ring panel filters are expected to grow at a healthy CAGR in the near future.
The increase in disposable income is another major growth driver in the global ring panel filters market. The purpose of ring panel filters is to protect people's health by maintaining clean ventilation systems and clean indoor air quality. The dangers of air pollution are well known, but it is less well known that the smallest particles are the most lethal. Different air filtering and air handling requirements are required depending on the fresh air intake supply of air and the indoor activities and operations. A ring panel filter is a device used in HVAC systems to remove solid particles such as dust, pollen, and bacteria from the air. It is also used to remove charcoal, catalyst, or absorbent to remove odors and gaseous contaminants.
Schools & Universities held the largest share of the global market in 2021. The application is expected to grow significantly over the forecast period due to an increase in the number of school construction projects across various regions. Industrial plants are another major application where R&D on new product development is required due to the harsh environmental conditions at these locations, as well as continuous production unit operations that require clean water supply with low maintenance costs, and so on.
As pollution levels rise, so does the demand for filtration systems. However, one of the primary factors impeding market growth is the high maintenance cost of these filters. Filters are generally expensive to replace because they need to be changed and serviced every four to six months.
Furthermore, many commercial and industrial end users buy low-cost filter equipment that impedes the working environment in HVAC applications. Furthermore, a lack of awareness about the harmful effects of bacteria and virus-contaminated air is impeding global market growth.
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Due to rapid urbanization and rising environmental concerns, emerging countries such as China and India in the Asia Pacific region are expected to dominate the ring panel filters market during the projected timeframe. During the forecast period, the Asia Pacific region is expected to have the highest CAGR.
This is mainly due to rising disposable income, urbanization and a growing population in countries such as India and China, which has led to an increase in industrial operations such as paper manufacturing and chemical manufacturing, among others, resulting in increased pollution levels at work places or homes, driving regional market growth.
According to Future Market Insights, North America will have a significant market share in the ring panel filters market. During the forecast period, North America is anticipated to dominate the market. Rising demand for aftermarket services such as repair, maintenance, replacement, and customization for improved comfort, safety, and ride quality is a major driver of regional market growth.
Furthermore, rising demand for luxury automobiles is fueling market expansion. North America is likely to lead the global market throughout the forecast period. The presence of developed economies such as the United States, which have a well-established healthcare sector and a high awareness of hygiene and safety standards for patients, teachers, and other staff members, is largely responsible for the growth.
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The worldwide ring panel filters market is moderately consolidated. Few of the key participants present in the global Ring Panel Filters market include Air Filters, Inc., IF International Filtration, American Air Filter Company, Inc., Bruce Air Filter Company, Clarcor Industrial Air Inc., Delta Filtration Company, Donaldson Company, Inc., Spectrum Filtration Pvt. Ltd, Koch Filter Corporation and Mann Hummel Group among others.
Many well-known as well as new players account for a sizable share of the abovementioned market. They have used a variety of strategies to gain a stronghold on the market, including partnerships, mergers and acquisitions, joint ventures, expansions, and more.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.2% from 2022 to 2032 |
| Market Value in 2022 | US$ 15 Billion |
| Market Value in 2032 | US$ 25 Billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in US$ Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
FMI projects the global ring panel filters market to expand at a 5% value CAGR by 2032
Asia Pacific is expected to be the most opportunistic global ring panel filters market, expanding at a 4.5% CAGR
Air Filters, Inc., IF International Filtration and American Air Filter are some prominent ring panel filter manufacturers
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Impact of Covid-19 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Macro Factors and Forecast Factors 3.4. Value Chain Analysis 3.4.1. Profit Margin Analysis 3.4.2. Raw Material Suppliers 3.4.3. Manufacturers, Wholesalers and Distributors 3.4.4. End users/ Customers 3.5. Regional Parent Market Outlook 3.6. Global Average Pricing Analysis Benchmark 4. Global Ring Panel Filter Market Analysis 2015-2021 and Forecast, 2022-2032 4.1. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis, 2015-2021 4.2. Current and Future Market Size Value (US$ Mn) & Volume (Units) Projections, 2022-2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Ring Panel Filter Market Analysis 2015–2021 and Forecast 2022–2032, By Layer 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Layer, 2015-2021 5.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Layer, 2022-2032 5.3.1. 2-ply 5.3.2. 2-ply 5.3.3. More than 3-ply 5.4. Y-o-Y Growth Trend Analysis By Layer, 2015-2021 5.5. Absolute $ Opportunity Analysis By Layer, 2022-2032 6. Global Ring Panel Filter Market Analysis 2015–2021 and Forecast 2022–2032, By End Use 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By End Use, 2015-2021 6.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By End Use, 2022-2032 6.3.1. Commercial 6.3.2. Institutional 6.3.3. Household 6.4. Y-o-Y Growth Trend Analysis By End Use, 2015-2021 6.5. Absolute $ Opportunity Analysis By End Use, 2022-2032 7. Global Ring Panel Filter Market Analysis 2015–2021 and Forecast 2022–2032, by Region 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Region, 2015-2021 7.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Region, 2022-2032 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. East Asia 7.3.5. South Asia 7.3.6. Oceania 7.3.7. Middle East and Africa (MEA) 7.4. Market Attractiveness Analysis, by Region 8. North America Ring Panel Filter Market Analysis 2015–2021 and Forecast 2022–2032, By Country 8.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2015-2021 8.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 8.2.1. By Country 8.2.1.1. U.S. 8.2.1.2. Canada 8.2.2. By Layer 8.2.3. By End Use 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Layer 8.3.3. By End Use 8.4. Key Takeaways 9. Latin America Ring Panel Filter Market Analysis 2015–2021 and Forecast 2022–2032, By Country 9.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2015-2021 9.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Argentina 9.2.1.4. Chile 9.2.1.5. Peru 9.2.1.6. Rest of Latin America 9.2.2. By Layer 9.2.3. By End Use 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Layer 9.3.3. By End Use 9.4. Key Takeaways 10. Europe Ring Panel Filter Market Analysis 2015–2021 and Forecast 2022–2032, By Country 10.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2015-2021 10.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. Italy 10.2.1.3. France 10.2.1.4. U.K. 10.2.1.5. Spain 10.2.1.6. BENELUX 10.2.1.7. Nordic 10.2.1.8. Russia 10.2.1.9. Poland 10.2.1.10. Rest of Europe 10.2.2. By Layer 10.2.3. By End Use 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Layer 10.3.3. By End Use 10.4. Key Takeaways 11. East Asia Ring Panel Filter Market Analysis 2015–2021 and Forecast 2022–2032, By Country 11.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2015-2021 11.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.2. By Layer 11.2.3. By End Use 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Layer 11.3.3. By End Use 11.4. Key Takeaways 12. South Asia Ring Panel Filter Market Analysis 2015–2021 and Forecast 2022–2032, By Country 12.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2015-2021 12.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Thailand 12.2.1.3. Malaysia 12.2.1.4. Indonesia 12.2.1.5. Rest of South Asia 12.2.2. By Layer 12.2.3. By End Use 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Layer 12.3.3. By End Use 12.4. Key Takeaways 13. Oceania Ring Panel Filter Market Analysis 2015–2021 and Forecast 2022–2032, By Country 13.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2015-2021 13.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 13.2.1. By Country 13.2.1.1. Australia 13.2.1.2. New Zealand 13.2.2. By Layer 13.2.3. By End Use 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Layer 13.3.3. By End Use 13.4. Key Takeaways 14. Middle East & Africa Ring Panel Filter Market Analysis 2015–2021 and Forecast 2022–2032, By Country 14.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2015-2021 14.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. Turkey 14.2.1.3. Northern Africa 14.2.1.4. South Africa 14.2.1.5. Rest of MEA 14.2.2. By Layer 14.2.3. By End Use 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Layer 14.3.3. By End Use 14.4. Key Takeaways 15. Country wise Ring Panel Filter Market Analysis 15.1. United States (U.S.) 15.1.1. Market Share Analysis, 2022 15.1.2. By Layer 15.1.3. By End Use 15.2. Canada 15.2.1. Market Share Analysis, 2022 15.2.2. By Layer 15.2.3. By End Use 15.3. Brazil 15.3.1. Market Share Analysis, 2022 15.3.2. By Layer 15.3.3. By End Use 15.4. Mexico 15.4.1. Market Share Analysis, 2022 15.4.2. By Layer 15.4.3. By End Use 15.5. Germany 15.5.1. Market Share Analysis, 2022 15.5.2. By Layer 15.5.3. By End Use 15.6. Italy 15.6.1. Market Share Analysis, 2022 15.6.2. By Layer 15.6.3. By End Use 15.7. France 15.7.1. Market Share Analysis, 2022 15.7.2. By Layer 15.7.3. By End Use 15.8. Spain 15.8.1. Market Share Analysis, 2022 15.8.2. By Layer 15.8.3. By End Use 15.9. U.K. 15.9.1. Market Share Analysis, 2022 15.9.2. By Layer 15.9.3. By End Use 15.10. Russia 15.10.1. Market Share Analysis, 2022 15.10.2. By Layer 15.10.3. By End Use 15.10.4. By End-use Industry 15.11. China 15.11.1. Market Share Analysis, 2022 15.11.2. By Layer 15.11.3. By End Use 15.12. Japan 15.12.1. Market Share Analysis, 2022 15.12.2. By Layer 15.12.3. By End Use 15.12.4. By End-use Industry 15.13. India 15.13.1. Market Share Analysis, 2022 15.13.2. By Layer 15.13.3. By End Use 15.14. GCC Countries 15.14.1. Market Share Analysis, 2022 15.14.2. By Layer 15.14.3. By End Use 15.15. Australia 15.15.1. Market Share Analysis, 2022 15.15.2. By Layer 15.15.3. By End Use 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Region 16.3.2. By Product Portfolio 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. American Air Filter Company, Inc. 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments (Product/Channel/Region) 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.1.5.2. Product Strategy 17.1.1.5.3. Channel Strategy 17.1.2. NORDIC AIR FILTRATION 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments (Product/Channel/Region) 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.2.5.2. Product Strategy 17.1.2.5.3. Channel Strategy 17.1.3. RoboVent 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments (Product/Channel/Region) 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.3.5.2. Product Strategy 17.1.3.5.3. Channel Strategy 17.1.4. Filson Filter 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments (Product/Channel/Region) 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.4.5.2. Product Strategy 17.1.4.5.3. Channel Strategy 17.1.5. MANN+HUMMEL 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments (Product/Channel/Region) 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.5.5.2. Product Strategy 17.1.5.5.3. Channel Strategy 17.1.6. Asian Filtration Technology 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments (Product/Channel/Region) 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.6.5.2. Product Strategy 17.1.6.5.3. Channel Strategy 17.1.7. HURRICANE REINVENTION 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments (Product/Channel/Region) 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.7.5.2. Product Strategy 17.1.7.5.3. Channel Strategy 17.1.8. Top Environment Protection Equipment Co., Ltd. 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments (Product/Channel/Region) 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.8.5.2. Product Strategy 17.1.8.5.3. Channel Strategy 17.1.9. Air Filters, Inc. 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments (Product/Channel/Region) 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.9.5.2. Product Strategy 17.1.9.5.3. Channel Strategy 17.1.10. Bruce Air Filter Company 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments (Product/Channel/Region) 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.10.5.2. Product Strategy 17.1.10.5.3. Channel Strategy 18. Assumptions and Acronyms Used 19. Research Methodology
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Ring Panel Filters Market
