Market research firm releases study on filter demand trends
Demand for filters in the U.S. is expected to increase 7.1% per year to $12.6 billion in 2015, according to results published in a new study from The Freedonia Group Inc., a Cleveland-based industry market research firm. Other trends expected are strengthening environmental regulations regarding water quality, and heightening concerns that will boost demand in the consumer market.
In 2010, fluid filters such as fluid power, municipal water and waste, consumer water and industrial fluid filters accounted for the largest share of filter shipments. Filters used in internal combustion engines accounted for the second largest share of total shipments and are expected to grow fastest through 2015, albeit from a low 2010 base.
Demand for filters in the industrial and manufacturing market, which was hampered by weak nonresidential fixed investment and manufacturing activity in 2009 and 2010, is projected to grow the fastest through 2015.