CLEVELAND — A new study from The Freedonia Group Inc., a Cleveland-based industry market research firm, has found that U.S. demand for filters will advance 3.6 percent annually to $14.8 billion in 2018 with replacement demand accounting for the vast majority of filter sales, according to a press release.
“The filter aftermarket will be aided by the increasing penetration of newer products”, states analyst David Petina, “particularly motor vehicle cabin air filters, diesel emissions filters and many varieties of home air and water filters, as well as rising end user awareness of their recommended service lives.”
The development of filters featuring technologies that extend their useful life will have a mixed impact on demand, boosting sales since they are priced at a premium, but also restraining demand in volume terms, the release reported.
Both the original equipment and replacement filter markets will be aided by regulatory changes, continued the release, particularly regarding potable water quality, diesel engine emissions and pollution from electric utilities, supporting sales of existing filters and the development of new products.
According to the release, the improved outlook for manufacturing and capital investment will also support filter demand in light of greater purchases of equipment that requires filters.