US Hepa markets to expand
USA – A new market research report entitled ‘U.S. Hepa Vacuum Filters Market: United States Industry Analysis, Size, Share and Forecast, 2010 – 2018’, published by Transparency Market Research, has been published investigating the U.S. HEPA vacuum filters market. The report states that the market is expected to exhibit significant growth at a CAGR of 5.1% from the years 2013 to 2018.
In 2013, the U.S. HEPA vacuum filters market already boasted revenues of US$484.0 million and by the end of 2018, this figure is expected to reach US$621.3 million. As a consequence of its wide usage in medical, electronic, and industrial applications, it has been forecasted that the U.S. HEPA vacuum filters market will record a volume of 31.88 kilo tons of filtration media by the end of 2018.
HEPA is a filtration standard which was created by the U.S. Atomic Energy Commission in an attempt to signify the efficiency of air filters. The standard was initially used by the organization to help restrict airborne radioactive particulates in the exhaust ventilation systems of nuclear reactors. Since this original use, their high efficiency in restraining air particulates means that HEPA vacuum filters are now widely used in multiple sectors. The worrying trend of the rise in respiratory allergies, airborne infectious diseases, and asthma in the U.S. has led to HEPA vacuum filters being increasingly adopted across a wide variety of uses. Also, as a consequence to concerns over health and safety, various industries have been forced to comply with environmental regulations, which has in turn boosted the growth of the U.S. HEPA vacuum filters market. Further growth in the market was stimulated by increasing applications of HEPA filters in the aircraft and automobile industries.
However, the news is not all positive as the high prices of HEPA vacuum filters could deter the expansion of the U.S. HEPA vacuum filters market. The report suggests that technological innovation to further increase the efficiency of HEPA vacuum filters could help create a huge opportunity for the market.
The U.S. air filtration media market has been segmented into different sectors, namely bag filters, HEPA/ULPA, dust filters, mid/high performance filters, and chemical filters. The report has analysed the market volume of each of these segments over the forecast period between 2013 and 2018. HEPA vacuum filters can be used in various end-use sectors such as commercial, residential, metals, power, electronics, among many others.
At this point in time, the majority of the U.S. HEPA vacuum filters market is held by the residential and commercial segments. In 2011, the residential segment comprised 21.1% of the U.S. HEPA vacuum filters market, and this market is expected to grow even further due to increased awareness about airborne infections and the need to filter indoor air. The report reveals that the residential segment is expected to continue to exhibit healthy growth at a CAGR of 5.5% over the forecast period and should record revenue of US$134.4 million by 2018.