Demand for filters in China is expected to increase 14 percent per annum to 90.2 billion yuan—$14.68 billion U.S.— in 2017. Sales gains will be fueled by solid, albeit decelerating, growth in the production of motor vehicles and other transportation equipment and rapid growth in the motor vehicle park, according to a report from The Freedonia Group Inc. Growth in manufacturing output, building construction spending, and other industrial activities will also drive filter sales.
Filters in China reports the market for consumer filters will expand along with increasing urbanization and rising income levels. The aftermarket for filters will also benefit from more widespread knowledge about health and the need to replace filters more frequently.
According to analyst Peng Sun, “Filter sales will be stimulated by robust growth in the stock of motor vehicles, other transportation equipment and rapid industry development.” Demand for air filters is expected to increase 12.8 percent per year through 2017. Sales gains will be fueled by rising output of products equipped with air filters, such as HVAC equipment. Rapid development of industries with air purification requirements will also support the expansion of the air filter market. Due to severe air pollution in China, health concerns will also drive consumers to purchase air filtration products.
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The manufacturing sector will remain the second largest filter market through 2017, behind motor vehicles, benefiting from increases in manufacturing activity. Utility filter market gains will be driven by the construction of numerous new power plants, water and wastewater treatment facilities, and waste incinerators. Freedonia Group reports demand for filters in consumer and other markets will be fueled by increasing personal income levels and rising concerns about air and water quality.
For more information on the Filters in China report, visit www.freedoniagroup.com.