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Replacement demand will account for the vast majority of filter sales
U.S. demand for filters will advance 3.6% annually to $14.8 billion in 2018, with replacement demand accounting for the vast majority of filter sales. “The filter aftermarket will be aided by the increasing penetration of newer products,” said 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 because they are priced at a premium, but also restraining demand in volume terms. Both the original equipment and replacement filter markets will be aided by regulatory changes — particularly regarding potable water quality, diesel engine emissions, and pollution from electric utilities — supporting sales of existing filters and the development of new products. The improved outlook for manufacturing and capital investment also will support filter demand in light of greater purchases of equipment that requires filters. These and other trends are presented in "Filters," a new study from the Freedonia Group Inc., a Cleveland-based industry market research firm.
The motor vehicle market will continue to account for the largest portion of total demand, with a 27% share in 2018, owing to the high volume of filters sold both as original equipment and in the aftermarket. Motor vehicle filter demand will be supported by a rising number of vehicles in use and increasingly strict standards for vehicle emissions. Value growth also will be supported by the introduction and increasing adoption of newer products, such as cabin air filters and other specialty and high value vehicle filters. Demand for filters in the industrial and manufacturing, consumer, and utilities markets all will see above average growth.
In 2013, fluid filters (e.g., fluid power, municipal water and wastewater, consumer water, and industrial fluid filters) and internal combustion engine and related filters (oil filters, air intake filters, fuel filters, cabin air filters and others) accounted for 37% and 35% of total filter sales, respectively. However, air filters, which represented the remaining 28% of sales in 2013, will achieve the fastest gains through 2018, benefiting from changes in pollution regulations, improvements in manufacturing activity, rising consumer interest and rebounding construction spending.