Filters Market- Global Industry Analysis Trends and Forecast 2012-2018

A recent market report published by Transparency Market Research (TMR) based on “Filters Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018” provides a comprehensive forecast and overall analysis of the filters market on a global, as well as regional level.

According to the study report, the global filters market for automotive, consumer, utility, and industrial applications was valued at US$48.10 billion in 2011. In the recent years, the market for filters has been growing at a rapid CAGR of 6.7% from 2012 to 2018 and is expected to reach US$77.10 billion in 2018.

Asia-Pacific accounted for over 35% of filters consumption in 2011 becoming the largest region for consumption of filters for all purposes. Due to the growing activities in industrial sectors, the region is also expected to exhibit the highest growth and demand for filters over the forecast period. Asia-Pacific was once valued at US$17.78 billion in 2011.

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Following to Asia-Pacific, other regions such as Europe and the U.S. have also marked their presence in the consumption of filters in the global market. Owing to the strict regulations and environmental laws governing the release of harmful pollutants and chemicals, the demand for filters in Europe is expected to grow and account for more than 25% of the total market share by 2018. Similarly, the U.S. filters market was valued at US$10.10 billion in 2011. The region is popular for the presence of large replacement market, and is therefore growing at a rapid CAGR of over 5% from 2012 to 2018.