US HVAC Filter Market Analysis.

Part
01
of four
Part
01

HVAC Filters: Market size

Our calculations estimate the market size of the US HVAC filter industry to be approximately $723 million in 2019. According to a Global Market Insights research report, the market size of the US HVAC filter industry is expected to exceed $1 billion. The same report also reveals that the Global HVAC filters market was valued at $8.2 billion and it is projected to grow at a CAGR of 7.2% from 2018 to reach $13 billion by 2024. Since most of the reports that have the market size for the US HVAC industry are paywalled, we had to calculate an estimate of the current market size a reverse CAGR calculator. Below is our methodology and a deep dive into our findings and calculations.

METHODOLOGY

In order to provide the market size for the US HVAC filter industry, we began by searching through HVAC filters market reports by reputable market research organizations like Global Market Insights, Technavio, Future Market Insights, Frost and Sullivan, Orian Research, Research and Markets, Global Information Inc. and Market Research for information on the US HVAC filter market size. We were able to find reports that detailed US HVAC filters market size but specific information on the US HVAC filters market size locked behind a pay wall.
We then extended the scope of the search to include North America and Global HVAC filters market current reports and reports dated earlier than 2017 published by reputable market research organizations like Global Market Insights, Technavio, Future Market Insights, Frost and Sullivan, Orian Research, Research and Markets, Global Information Inc. and Market Research for information on the US HVAC filters market size. Information on the projected global and US HVAC filters market size as well as 2017 global HVAC filter market size were publicly available in this report published by Global Market Insights but information regarding the historical and current US HVAC filters market sizes was locked behind pay wall in all the HVAC filters market reports we consulted.
Next, we combed through reputable media databases like Market Watch, PR Newswire, and Business Wire for information on US HVAC filters market size. These media sources published news articles on the US HVAC filters market size but the information was locked behind a pay wall in the report attached to the news articles.
We have used publicly available information on projected global and US HVAC filters market size, the projected CAGR, as well as 2017 global HVAC filter market size information published by Global Market Insights to triangulate the approximate market size for 2019 (current) as detailed below.

ASSUMPTIONS
We have assumed that the US HVAC filters market share in the total projected global HVAC filters market by 2024 to be approximately the same as that of 2019.

CALCULATIONS AND KEY FINDINGS
To estimate a proxy for the US HVAC filters market size we started by calculating an estimate for the US HVAC filters market share in the projected global HVAC filters market by 2024 as follows:

The US HVAC filters market size is expected to reach over $1 billion by 2024 and the Global HVAC filters market is projected to reach $13 billion by 2024.
The US market share by 2024 (as a percentage of the global total) is calculated as:$1 billion / $13 billion x 100 = 7.69%
We then estimated the current global HVAC filters market size (in 2019) using a reverse CAGR calculator to $9.4 billion. We used the starting value as the 2017 global market size of $8.2 billion and the global market growth of 7.2%, and a period of two years (2018 and 2019)
We then estimated the current US HVAC filters market size as follows:
Assumed US market share in 2019 = 7.69%
2019 global HVAC filters market size = $9.4 billion (from reverse CAGR calculator)
Current US HVAC filters market size = $9.4 billion x 7.69/100= $723 million

Part
02
of four
Part
02

HVAC Filters: US segmentation

The US HVAC filter market can be broken down into three or four primary categories that include residential, commercial, and industrial applications. Figures for global market size as well as a few stats on market potential are available publicly. However, most of the data, especially when it is country specific, is locked away behind paywalls.

Research Strategy

While we were able to find a breakdown of segments in the US HVAC filter market, finding figures and percentages on growth rate and segmentation breakdown proved elusive. We attempted to find existing data points by checking reports, charts, images, and more. Additionally, we tried to find a breakdown of numbers and calculate the market size per segment. Most of the desired information is believed to exist but is locked behind paywalls. The following is a breakdown of the strategy your research team applied.

We began our research by checking numerous industry reports that dealt explicitly with HVAC filtration. The majority of the reports cited the same information or only provided a few general global figures rather than anything to do with the US specifically. Among the industry reports that we consulted and ran into paywalls are:

Our next attempt to find US specific HVAC filtration figures included researching independent societies and groups that focus on air filtration. We hoped that we could discover non-paywalled information by going this route. Two of the groups we found were the American Filtration and Separation Society, and the National Air Filtration Association. Unfortunately, neither of these associations proved helpful in providing growth statistics or the other necessary figures.

Research continued by examining a variety of press releases and news reports. At times, these reports contain more information and statistics that are presented by the industry report websites that include paywalled information. We checked Globe New Wire, Business Wire, PR News Wire, and Reuters among others. None of these yielded the desired information and only led to more paywalled material.

We then attempted to look for case studies that might reveal significant figures. Capstone Headwaters provided one such possibility, but in the end, the case study did not address the needed US market figures. University websites also fell short at providing any useful information.

We consulted government agencies such as OSHA and the EPA with the intent of discovering a breakdown of the segments along with some information on growth. These websites included a great variety of information on clean air and air quality, but nothing of use when it comes to market sizing and segmentation.

Finally, to ensure a thorough search, we also examined individual air filtration companies. In niche industries, such as the HVAC trade, companies will often publish blogs as part of their content marketing. The idea is to publish high-value content to show consumers that the company knows their market and can provide additional value to the consumer. A few of the companies included in our research are Air Systems Inc., Air Filter Solutions, and Filter Easy. Regrettably, this route did not provide any additional insights into the growth of the HVAC filter segments.

Market Segmentation

The market segmentation of HVAC filters is generally broken down into three or four different categories, each of which contains sub-categories. One resource broke the segmentation into residential, commercial, medical and industrial controlled environments, and industrial pollution and exhaust gas control. Another market report broke the segmentation apart as follows:

  • Residential
  • Non-Residential
- Commercial
- Office
- Institution
- Healthcare facilities
  • Industrial
- Food & Beverage
- Pharmaceutical
- Construction
- Livestock production facilities

Fastest Growing Segments

Information regarding the fastest growing segments within the US does not appear to be available in the public domain. The global market for air filtration is expected to see a growth in CAGR of 2.4% over the next five years. In 2019, it is estimated the worldwide market size is $7,920 million and will reach $9,130 million by 2024.

Industrial HVAC filters with pharmaceutical applications are expected to experience substantial global gains up to 3% by 2024. This is due to the increasing demand for contamination-free environments within the pharmaceutical sector. Data centers are also driving the need for more industrial HVAC filters as these facilities generate toxic emissions from sulfur compounds used within the hardware.

Additionally, the HEPA filter industry expects to see strong growth of over 7% by 2024. OSHA and the EPA both recommend the use of this style of filter, and they are utilized in healthcare settings because of the ability to remove 99.97% of dust, tobacco smoke, dirt, and other pollutants from the air. (Source 6)

Market in the US

No information in the public domain could be acquired concerning the individual segments making up the broader US HVAC market. One market report stated that the US HVAC filters industry is expected to surpass $1 billion soon. Growth is being driven by more energy efficient filtering systems and the general consumer’s preference for less contaminated air.
Part
03
of four
Part
03

HVAC Filters: US Key Players

While there is no publicly available information to fully answer your question, we've used the available data to pull together major players in the Global HVAC Filter Industry that have presence in the U.S., and they include: Freudenberg, DuPont, Kimberly-Clark, Ahlstrom-Munksjö, Berry Plastics (Parent Company Of PGI), Johns Manville and Glatfelter. Below, you'll find an outline of our research methodology to better understand why the information you've requested is publicly unavailable, as well as a deep dive into our findings.

METHODOLOGY

STRATEGY 1: INDUSTRY STUDIES AND MARKET REPORTS

We started the research by looking for any industry studies or market reports on the U.S. HVAC filters market. We came across a report published by Frost & Sullivan; however, the report was published in 2015, focused on North America, and does not provide any names of key players covered in the report. Further, we came across another report published by Headwaters MB, which provided information on the global HVAC filters market along with top 10 companies globally in terms of production. However, no market report could be found specifically on the U.S. HVAC filters market published by credible market research firms including but not limited to Global Market Insights, Transparency Market Research, Credence Research, Euromonitor International, and Markets & Markets, among others.

STRATEGY 2: INDUSTRY ASSOCIATIONS AND DIRECTORIES

Since no direct information on the key players in the U.S. market was available through market reports, we started to search for HVAC filter companies in the U.S. The idea here was to search for a list of companies operating in the U.S. market and to rank them based on their revenue. However, after a search on ThomasNet, IQS Directory and Air-Filters, it was found that there are over 150 companies operating in the U.S. HVAC filters market. It was not feasible to check for the revenue information of over 150 companies in a limited time, so this strategy failed to arrive at a definitive answer.

STRATEGY 3: NEWS ARTICLES AND PRESS RELEASES ON EXTERNAL MEDIA

As a last resort, we started to check through various leading media outlets including but not limited to Forbes, New York Times, Wall Street Journal, Financial Times, Business Insider, Fortune, and Bloomberg, among others for any information on top/major/leading HVAC filter companies in the U.S. However, very limited number of news articles could be found and most of the articles provided information on product launches and acquisitions. Thereby, we concluded that limited information is available on the key players in the US HVAC filter industry based on market share or revenue.

Since we had found the list of top 10 companies in the global HVAC filters market in terms of production, we decided to check whether these companies operated in the U.S. market as well. The idea here was to identify companies that were headquartered in the U.S. or had a significant presence in the U.S. Since these companies were top 10 globally, being headquartered in the U.S. would mean that they are a key player in the U.S. market as well. Through this strategy, we were able to identify seven companies that were either headquartered in the U.S. or had presence in the U.S. market, namely: Freudenberg, DuPont, Kimberly-Clark, Ahlstrom-Munksjö, PGWe, Johns Manville and Glatfelter.

Lastly, we started to search for the revenue information for the above-mentioned companies specific to their U.S. HVAC filters business. The idea here was to rank these companies based on their revenue from their U.S. HVAC filters business. However, after going through the annual reports of the companies listed above, we found that none of the companies have provided any specific financial information related to their U.S. HVAC filters business. Thereby, we were only able to find the top 10 companies globally that were either headquartered in the U.S. or had a presence in the U.S. Using these data, we compiled our findings, outlined below.

TOP GLOBAL COMPANIES, IN TERMS OF PRODUCTION, THAT ARE EITHER HEADQUARTERED OR HAVE PRESENCE IN THE U.S. INCLUDE:

1. FREUDENBERG

2. DUPONT

3. KIMBERLY-CLARK

4. AHLSTROM-MUNKSJÖ

  • Website
  • Description: The company operates in the industrial space. It offers its EPA / HEPA / ULPA filter media products.
  • Revenue in the U.S. HVAC filters market: N/A

5. BERRY PLASTICS (PARENT COMPANY OF PGI)

6. JOHNS MANVILLE

7. GLATFELTER

  • Website
  • Description: The company operates in the industrial space. It offers its Airlaid products.
  • Revenue in the U.S. HVAC filters market: N/A

CONCLUSION

Despite the limited resources available, We were able to identify 7 companies namely, Freudenberg, DuPont, Kimberly-Clark, Ahlstrom-Munksjö, PGWe, Johns Manville and Glatfelter that are either headquartered in the U.S. or had presence in the U.S. HVAC filter market.

Part
04
of four
Part
04

HVAC Filters: Global Key Players

Seven of the biggest companies operating in the global HIVAC filter industry are Parker Hannifin Corp, Freudenberg & Co. Kg, AAF International, Filtration Group, Camfil, Koch Filter, and Emirates Industrial Filters. The findings present each company’s website, revenue, and a brief description. The research team attempted various strategies to determine the sales in the HVAC filter market but could not find this data. 

Methodology

To find the biggest companies operating in the global HVAC filter industry, we looked for any industry studies or market reports on the global HVAC filters market. We found information on the key players in the global market from two market reports: Global Newswire and GM Insights. Some listed top players included Parker Hannifin Corp, Freudenberg & Co. Kg, Tex-Air Filters, AAF, Filtration Group, Spectrum Filtration, Troy Filters, Camfil, Koch Filter, and Emirates Industrial Filters. Based on the listed players, we searched for the revenues for each of the companies in different financial databases such as Hoovers, Crunchbase, and Owler. We found revenues for all the players, except for Spectrum Filtration and Troy Filters, which we removed from our list. We then selected seven of the top companies with the highest revenues which were: Parker Hannifin Corp, Freudenberg & Co. Kg, AAF, Filtration Group, Camfil, Koch Filter, and Emirates Industrial Filters.

We have provided the top seven companies in the HIVAC filter market based on revenue and ranked them from the highest to the lowest. However, we could not find the sales in the HVAC filter market for all the companies. The strategies we attempted are:

Our first strategy was to search through the content of each company’s website and any reports they published. However, none of these sources provided information on the required data. 

Our second strategy was to search through leading media outlets such as Forbes, New York Times, Wall Street Journal, Financial Times, Business Insider, Fortune, and Bloomberg. However, we found few news articles that only provided general financial information, none of which addressed the sales generated in this market.

As our last strategy, we checked the sales of each company through HVAC filters market research published by credible market research firms such as Global Market Insights, Transparency Market Research, Credence Research, Euromonitor International, and Markets & Markets. However, although the reports outline the overall revenue generated by the industry, none was specific to the sales generated by any of the seven companies. Following our due diligence, we can conclude that this information is not readily or publicly available.

PARKER HANNIFIN CORP

Parker Hannifin Corp has an annual revenue of $14.5 billion. This company operates in commercial and industrial space. It offers products such as HVAC air filters and HEPA filters.

FREUDENBERG & CO. KG

Freudenberg & Co. Kg has an annual revenue of $10.2 billion.
The company operates in commercial and industrial spaces. It offers air filtration solutions for emission control, contamination control, and surface treatment systems. It also offers liquid filtration products.

AAF INTERNATIONAL

AAF International has an annual revenue of $1.4 billion.
The company operates in the industrial space. Its filtration solutions help resolve many industrial dust concerns.

FILTRATION GROUP

Filtration Group has an annual revenue of $800 million (source 9)
The company operates in commercial and industrial spaces. It manufactures and designs high quality air filters and offer personalized technical support in fast-paced markets.

camfil

Camfil has an annual revenue of $141 million.
The company operates in commercial and industrial space. It offers products such as general ventilation filters, EPA, HEPA, and ULPA filters, molecular filters, and turbo-machinery filters.

KOCH FILTER

Koch Filter has an annual revenue of $69.3 million.
The company operates in commercial and industrial space. It offers products such as pleated filters, rigid filters, HEPA filters, and disposable filters.

EMIRATES INDUSTRIAL FILTERS

Emirates Industrial Filters has an annual revenue of $5 million.
The company operates in commercial and industrial space. It offers products such as general ventilation filters, EPA, and HEPA filters.


Sources
Sources

From Part 01
Quotes
  • "HVAC Filters Market size is set to surpass USD 13 billion by 2024; according to a new research report by Global Market Insights, Inc."
  • "U.S. HVAC filters industry size is anticipated to surpass USD 1 billion owing to rising outdoor air pollution. It is an influential product which regulates and monitors air temperature, pressure, and air quality. Changing consumer preference for resisting air contamination with energy efficiency is likely to foster market growth."
From Part 02
From Part 03
Quotes
  • "Top 10 global producers represent 31% of global production"
  • "Approximately 50% of production facilities reside in the U.S., Western Europe and Japan"
Quotes
  • "We provide a wide range of product coverings for the production of pocket and pleated filters for HVAC systems in hospitals, the food and beverage industry, the pharmaceutical industry and various industrial applications."