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Global Ring Panel Filters Market Size, Share, and Analysis, By Type (2-ply, 3-ply, More than 3-ply), By Application (Hospitals, Industrial Plants, Schools, Others) and Regional Forecasts, 2022-2032
Global Ring Panel Filters Market size was USD 14.3 billion in 2021 and projected to grow from USD 15.9 billion in 2023 to USD 25.6 billion by 2032, exhibiting a CAGR of 5.5% during the forecast period.
A ring panel filter is an air filter type used in HVAC systems. It is a cylindrical structured component placed around the ductwork for minimising the amount of dust and debris & increasing the airflow entering the system. Ring panel filter are made from materials like aluminium, fiberglass and plastic. Ring panel filters have application in industrial plants, commercial buildings, hospitals etc. They assist in increasing the efficiency of the HVAC by trapping dust and debris. Ring panel filters contain three layers where the primary layer acts as highly porous strong filter and the second helps avoiding unloading and the third to remove any remaining particles.
Global Ring Panel Filters Market is expected to reach USD 25.6 billion, growing at a CAGR of 5.5% during forecast period owing to the rising applications of Global Ring Panel Filters in various end-use industries like industrial plants, hospitals, schools, etc. The rising urbanization along with the stringent government regulations on control of environmental pollution at industrial is expected to boost the growth of the market. The growing demand for controlling systems of the air quality in several industries is driving market growth. The increasing awareness on the benefits by using ring panel filters is expected to drive the growth of the Global Ring Panel Filters Market.
Global Ring Panel Filters Market is classified based on the Type into 2-ply, 3-ply, More than 3-ply. 3-ply filters segment is expected to dominate the Global Ring Panel Filters Market in the forecast period. The first layer in 3-ply is a coarse filter which aids in eliminating large particles from the air. The second layer consists of fine filter that assist in removing smaller particles and the third layer which help in removing further existing particles. The high efficiency of 3-ply filters in removing the particulate matter from the stream of air is expected to boost the segment growth.
Global Ring Panel Filters Market is classified based on the Application into Hospitals, Industrial Plants, Schools, Others. Hospitals segment is expected to dominate the Global Ring Panel Filters Market in the forecast period. Ring Panel Filters help in maintaining the clean indoor air quality by maintaining clean ventilation systems, thereby assisting in improving the quality of patient health in the hospital which is expected to drive the segment growth in the Global Ring Panel Filters Market.
Rising Air Pollution is Expected to Boost the Growth of the Market
The level of air pollution is increasing worldwide which is expected to drive the demand for ring panel filters market. The increment of governments and individuals become more aware of the health risks associated with air pollution, the demand for efficient filtration solutions is increasing. The increasing automotive industry and the growth of the automotive industry is expected to drive the growth of market. Rising demand from the HVAC industry is growing the demand for energy-efficient HVAC systems and is driving the growth of the ring panel filters market.
Increasing Awareness on Air Quality is Expected to Boost the Growth of the Market
The rising awareness on maintenance of air quality indoors is expected to boost the growth of the market. The time spent indoors is high, so the necessity of maintaining air quality is to be high which is achieved with the help of Global Ring Panel Filters Market.
The growing advancements in technology related to ring panel filters is expected to boost the demand for ring panel filters market. The long lifespan, high filtration efficiency, and reduced operating costs are expected to create demand for the growth of ring panel filters market.
High Maintenance Cost May Restrain the Growth of the Market
The high replacement costs along with the high maintenance cost of the filters are expected to restrain the growth of the market. The utilization of alternative ring panel filters like activated carbon filters, electrostatic filters, and UV filters may hamper the growth of the market. The stringent regulations applied on the ring panel filters market may limit the growth of Global Ring Panel Filters market.
Global Ring Panel Filters Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific dominated the market in 2021 and is expected to dominate the market in the forecast period owing to the increasing population, rise of construction projects and growing necessity for well-established healthcare facilities which is expected to boost the growth of the market. The increasing awareness regarding health & hygiene is driving the people to spend on various infrastructure projects which is expected to boost the demand for over Global Ring Panel Filters Market in the forecast period.
The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed lockdowns and travel bans to control the coronavirus spread. Covid-19 has affected several industries globally and there was lack of labour and raw materials. Due to the pandemic, the demand for air purifiers has increased as the focus on indoor air quality has increased. The pandemic supported online sales for ring panel filters and has resulted in growth of the Global Ring Panel Filters Market.
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ATTRIBUTE |
DETAILS |
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Study Period |
2021-2032 |
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Base Year |
2021 |
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Forecast Period |
2022-2032 |
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Historical Period |
2021-2022 |
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Growth Rate |
CAGR of 5.5% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Type |
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Application |
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By Region |
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Global Ring Panel Filters Market size was estimated at USD 14.3 billion in 2021 and is expected to reach USD 25.6 billion in 2032.
A ring panel filter is an air filter type used in HVAC systems. It is a cylindrical structured component placed around the ductwork for minimising the amount of dust and debris & increasing the airflow entering the system. Ring panel filter are made from materials like aluminium, fiberglass and plastic.
3-ply filters and Hospitals segment accounted for the largest Global Ring Panel Filters market share
Key players: CLYDE-IFC, Koch Filter, Bruce Air Filter, Delta Filtration, Spectrum Filtration, Freudenberg Filtration Technologies, Parker Hannifin Corporation, Mann + Hummel International, AAF International, Camfil Group, Donaldson, Filtration Group Corporation and Other Prominent Players are the key players in the Global Ring Panel Filters Market.
Rising Air Pollution and Increasing Awareness on Air Quality are the factors driving the Global Ring Panel Filters market.
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