V-Form Filters Market: Introduction
- The V-Form filter is a dry arrestance type fixed panel filter that may be used in most air conditioning and ventilation systems. Packaged air conditioners for office and computer rooms as well as light industrial uses are among them. At service intervals, V-Form mounting frames and clips allow for simple removal and replacement. V-Form filters can be made up into banks for higher air volumes by simply attaching the holding frames together. V-Forms are made in a variety of sizes, both standard and non-standard, to meet individual needs. During the forecast period, the market for V-Form filters is predicted to expand significantly.
Key Drivers and Opportunities of the Global V-Form Filters Market
- Demand for HVAC units is growing across commercial, real estate, and service industries, due to factors such as the need for comfort, increasing global warming, and rising disposable income. One of the largest end-users of HVAC systems is the real estate industry wherein retail, housing, commercial, and hospitality are the four subsectors. The real estate industry is expanding as a result of increased need for office space, suburban and urban accommodations, and the expansion of the corporate sector, which favors product demand. Demand for V-Form filters is predicted to rise in tandem with the global expansion of HVAC systems.
- Despite the fact that the HVAC industry is expected to grow steadily due to the aforementioned benefits, high installation and maintenance costs, high energy consumption, and other operational issues are expected to hamper their growth. Furthermore, the lifecycle of HVAC systems can be influenced by climatic conditions in certain places. Moist climates have a tendency to diminish the life expectancy of these systems due to their corrosive effects. This is predicted to restrict the expansion of the HVAC industry, as well as the V-Form filters market, throughout the forecast period.
- Hot climate, rise in population, and increase in disposable income are expected to increase the demand for split air conditioners in developing countries. India, which is a rapidly growing economy, is the third-largest split air conditioning system market, after China and Japan. Furthermore, developing countries of Middle East & Africa too are witnessing an increasing demand for split air conditioners. This has prompted global V-Form filter manufacturers to establish production locations in developing countries as these filters are the primary product in HVAC systems. All these factors present a good opportunity to players operating in the global V-Form filters market to invest in markets in developing countries.
Asia Pacific to Hold Major Share of the Global V-Form Filters Market
- In terms of region, the V-Form filters market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Asia Pacific is expected to lead in terms of sales of V-Form filters during the forecast period, followed by Europe. Asia Pacific is experiencing rise in urbanization and commercialization and hence demand for HVAC systems is high from the region, leading to higher sales and demand for V-Form filters.
- Furthermore, the market in Asia Pacific is expected to expand at the highest CAGR and become an upcoming market for V-Form filters. The region has predominantly developing countries which are witnessing growth in their commercial sector. Furthermore, the average per capita income of people residing in the region has been increasing year on year, which further leads to increase in disposable income. Thus, demand for HVAC systems is likely to increase, which in turn will increase the demand for V-Form filters during the forecast period in the region.
Key Players Operating in the Global V-Form Filters Market
- Advance Filtration Group Pty Ltd.
- American Air Filter Company, Inc.
- FILT AIR Ltd.
- Filterfit Pty Ltd.
- MANN+HUMMEL International GmbH & Co. KG
- Mikropor Makina SAN.TIC.A.S.
- Purolator Inc.
- S. W. HART & CO.
- The Camfil Group
- Westaflex Company
Global V-Form Filters Market: Research Scope
Global V-Form Filters Market, by Product Type
- High-flow Filters
- Medium-flow Filters
- Low-flow Filters
Global V-Form Filters Market, by End-use
Global V-Form Filters Market, by Price
Global V-Form Filters Market, by Distribution Channel
- Direct Sales
- Indirect Sales
Global V-Form Filters Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa