HEPA Vacuum Filters Market Expected to Reach $621.3 Million by 2018
According to a new market report published by Transparency Market Research, 'US HEPA (High Efficiency Particulate Air) vacuum filters market: United States industry analysis, size, share and forecast, 2010 - 2018', the US HEPA vacuum filters market revenue is estimated to reached $484.0 million in 2013 and then further reach $621.3 million by 2018, growing at a CAGR (Compound Annual Growth Rate ) of 5.1 percent from 2013 to 2018.
In terms of volumes, the market is expected to reach 31.88 kilo tons of filtration media by 2018.
The market has experienced a healthy growth rate in the last few years due to increased prevalence of asthma and other allergies in the US. Other growth drivers for this market include increasing regulatory support for the use of HEPA filters and enhanced enforcement of industrial standards within various industries due to concerns over health and safety. Price still remains the major concern; however increased awareness about airborne infectious diseases overcomes this concern.
Residential and commercial segments generate a major share of the overall revenue. The residential segment is forecast to reach market revenue of $134.4 million in 2018 and is expected to grow at a CAGR of 5.5 percent during 2013-2018. The residential segment accounted for 21.1 percent of the overall market in 2011.
This report helps to identify factors that will be the driving force behind the market and sub-markets in the next six years. It provides extensive analysis of the US HEPA vacuum filters market industry, current market trends, industry drivers and challenges for better understanding of the market structure. The report has segregated the industry in terms of application and it also analyses the market for air filtration media in USD million by its product type. Annual estimates and forecasts are provided for the period 2010 through 2018 in terms of volume and value.
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