Freedonia study: Demand for filters in China to rise 14% a year, exceeding 90 billion yuan by 2017
CLEVELAND, OH, August 14, 2014-
Demand for filters in China is expected to increase 14.0 percent per annum to 90.2 billion yuan in 2017. Sales gains will be fueled by solid, albeit decelerating, growth in the production of motor vehicles and other transportation equipment and rapid growth in the motor vehicle park. Growth in manufacturing output, building construction spending, and other industrial activities will also drive filter sales. The market for consumer filters will expand along with increasing urbanization and rising income levels. The aftermarket for filters will also benefit from more widespread knowledge about health and the need to replace filters more frequently. These and other trends are presented in Filters in China, a new study from the Beijing office of The Freedonia Group, Inc., a Cleveland-based industry research firm.
Internal combustion engine (ICE) and related filters represented the largest product category of filters in China in 2012 and demand for them will grow 15.6 percent annually through 2017. Although growth in motor vehicle and gas motorcycle production will be slow (compared to historical rates), production gains will still support substantial filter consumption. According to analyst Peng Sun, "Filter sales will be stimulated by robust growth in the stock of motor vehicles, other transportation equipment and rapid industry development." Demand for air filters is expected to increase 12.8 percent per year through 2017. Sales gains will be fueled by rising output of products equipped with air filters, such as HVAC equipment. Rapid development of industries with air purification requirements will also support the expansion of the air filter market. Due to severe air pollution in China, health concerns will also drive consumers to purchase air filtration products.
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