Air Treatment Market: Market Shares, Trends, Top Key Players, Industry Overview and Global Forecast to 2023

The air treatment market is expected to reach USD 17.39 billion by 2018 and USD 25.56 billion by 2023, growing at a CAGR of 8.00% during the forecast period. Factors driving the growth of the air treatment market include increasing industrialization and urbanization, stringent regulations governing emissions and treatment of industrial effluents, and the need for achieving high efficiency with mechanical equipment and factory processes.

Some of the major players in the air treatment market are Freudenberg Filtration Technologies (Freudenberg) (Germany), Donaldson Company Inc (Donaldson) (US), Parker Hannifin Corp. (Parker Hannifin) (US), Ahlstrom-Munksjö (Finland), Mann+Hummel (Germany), Cummins Inc. (US), Camfil Group (Sweden), and Atlas Copco AB (Sweden).

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Emerging economies are focusing on rapid industrialization. Countries such as China, India, Indonesia, South Africa, and Brazil are moving their economies from being agriculture dominated to being manufacturing- and other industries-based economies. With the emergence of new industries and increasing number of vehicles, the need for effective management of air pollution has become crucial.

Based on technology, the air treatment market has been segmented HEPA filters, electrostatic precipitators, activated carbon, UV filters, ionic filters, and conventional filters. The market for activated carbon is expected to grow at a highest CAGR amongst all technologies during the forecast period; this growth can be attributed to these filters being efficient in capturing all carbon containments, hazardous gases (sulfur dioxide, carbon monoxide, and others) chemical fumes, odors, and smoke. These filters are preferred in industries such as automotive, manufacturing, power generation, and oil & gas. 

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Based on vertical, the air treatment market has been segmented into manufacturing, automotive, oil & gas, power generation, pulp & paper, commercial, and residential. The automotive vertical is expected to be one of the significant contributors to the air treatment market in 2018 and the market for this segment is expected to be grow at the highest CAGR amongst all verticals during the forecast period.

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APAC currently holds the largest share of the air treatment market and is expected to grow at the highest CAGR globally from 2018 to 2023. Countries in APAC such as China, Japan, India, and South Korea have some of the largest manufacturing facilities in the world. Increasing population, rapidly growing economies (developed as well as developing), and government initiatives to promote industrial growth have made APAC an ideal manufacturing destination for various sectors—including semiconductors, electronics, and automotive. Advancements in terms of economic growth, infrastructural developments, and construction of power plants are expected to boost the growth of the air treatment market in APAC in the coming years.