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U.S. HEPA (High Efficiency Particulate Air) Vacuum Filters Market - Current and Projected Industry S

, 21 January 2019 -- U.S. HEPA (High Efficiency Particulate Air) Vacuum Filters Market - Current and Projected Industry Size in Terms of Volume and Value

According to Transparency Market Research, the U.S. HEPA (high-efficiency particulate air) vacuum filters market has a considerably consolidated landscape. 3M, Filtrauto S.A., and Pall Corporation were the major market leaders in 2010 and accounted for close to 70% of the market. The consolidated nature of the market has resulted in a limited scope for price differentiation, leading to product innovation emerging as the major factor influencing the future of the U.S. HEPA vacuum filters market.

However, the cost-intensive nature of the HEPA vacuum filters industry means the established industry giants are likely to retain their dominance in the U.S. market through the forecast period.

High Prevalence of Asthma, Allergies Drives U.S. HEPA Vacuum Filters Market

The prime driver for the U.S. HEPA vacuum filters market is the increasing incidence of asthma and allergies from common contaminants such as dust and pollen. Around 1 in 5 Americans, totaling close to 60 million people, suffer from asthma or allergies of some kind. The high efficacy of HEPA vacuum filters means they can remove even small allergens such as pollen, leading to their increasing demand. The number of people in the U.S. suffering from asthma and allergies is expected to rise to around 100 million by 2025, leading to an increase in the importance of this factor to the U.S. HEPA vacuum filters market.

The increasing public awareness about the risk of infectious diseases – helped in no small part by government initiatives – has also driven the demand for the advanced and effective HEPA vacuum filters. Airborne diseases are a major threat in the U.S., thanks to the increasing amount of air pollution, and individual end users as well as hospitals have started adopting HEPA vacuum filter systems in order to reduce the incidence of airborne diseases.

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High Costs of HEPA Vacuum Filter Technology a Major Restraint on U.S. Market

In spite of the proven benefits of HEPA vacuum filters over conventional air filter technology, the high costs of the former are a major hurdle for the U.S. HEPA vacuum filters market. Due to the high technological sophistication of HEPA vacuum filters, manufacturers haven’t yet been able to achieve a viable cost-price balance. As demand from the healthcare sector grows, manufacturers in the U.S. market will find it easier to sell HEPA vacuum filters at lower prices.

However, due to product innovation being the major differentiator in the consolidated U.S. HEPA vacuum filters market, manufacturers will also need to keep adding functionalities to their products, forcing them to retain high costs. This will be a crucial issue in the U.S. HEPA vacuum filters market in the coming years, with manufacturers being forced to balance the increasing demand for functionalities such as removal of organic volatile compounds with the need to drop prices to increase their sales volume.

U.S. HEPA Vacuum Filters Market to be Valued at US$621.3 mn by 2018

The U.S. HEPA vacuum filters market was valued at US$484 mn in 2013. Exhibiting a steady 5.10% CAGR from 2013 to 2018, the market’s valuation is expected to rise to US$621.3 mn.

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Submitted by K Singha on Monday, 21 January 2019 at 7:26 PM
Category: Science & Research
 
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