Pune, May 25, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, a global market research firm, has published a competitive intelligence market research report on the “Filters and Components Market”. The Filters and Components Market size was valued at USD 14.3 Bn in 2022. The total Filters and Components Market revenue is expected to grow at a CAGR of 17 per cent from 2022 to 2029, reaching USD 4.92 Bn during the forecast period.

Market Size in 2022USD 14.3 Bn
Market Size in 2029USD 42.92 Bn
CAGR17 per cent (2022-2029)
Forecast Period2022-2029
Base Year2021
Number of Pages278
No. of Tables129
No. of Charts and Figures121
Segment CoveredBy Product Type, End-Use Industry, Applications, End Use, Sales Channel, Material, Filtration Technology, Efficiency Level, Frequency, Connectivity Technology, End Use
Regional ScopeNorth America, Europe, Asia Pacific, Middle East and Africa, South America
Report CoverageMarket Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

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Filters and Components Market Scope and Research Methodology

The Filters and Components Market research report covers technology, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry. The report includes drivers, opportunities and restraints affecting the global market. It covers the impact of these drivers, trends and restraints on the demand of the market during the forecast period. The report also highlights opportunities in the market at the global level. Regional analysis of the Filters and Components Market is conducted at the country, regional and global levels. The report covers the Filters and Components Market strategies followed by major players with their strategies and investment plans. The primary and secondary research method was used to collect the data from the Filters and Components Market. Key players are identified through secondary research. Secondary research was used to collect information for the extensive, market-oriented, and commercial analysis of the Market.

Filters and Components Market Overview

Filters and components are critical components of every electrical and communication system because they change the amplitude or phase qualities of the signal as frequency increases. The filter is a linear circuit that helps remove unwanted components from the input signal such as distortion, noise, and interference. Filters, in principle, change the relative amplitudes of the various frequency components as well as the signal frequency's phase characteristics.

Growing demand for high-speed internet access in facilities is driving the growth of the filters and components market. The complex construction of tiny-size filters, as well as their short life cycles, are important market limitations.

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Filters and Components Market Dynamics

The filters and components market is expected to grow during the forecast period thanks to increased demand for surface acoustic wave (SAW) filters. Surface acoustic wave filters dominated the market due to their widespread application in the telecommunications industry. The availability of flexible mounting and medium frequency coverage increases demand for surface acoustic wave (SAW) filters, driving market growth. Mission-critical RF bulk acoustic wave (BAW) filters provide the finest performance for diplexers, duplexers, RF delay filters, bandpass filters, and a variety of other devices used in military systems. RF product solutions are conceived and developed to be lightweight and ruggedized for the most demanding military applications.

North America region is expected to fuel the Filters and Components Market growth

The North America region is expected to dominate the regional Filters and Components Market during the forecast period. Thanks to the country's growing usage of smartphones and other electronic devices, the United States dominates the market for RF surface acoustic wave (SAW) filters. Asia-Pacific is expected to grow at the fastest pace during the forecast period of 2023-2029, due to the region's rising need for wireless connection networks that can deliver high speeds for households and businesses. Furthermore, rising industrial automation and the desire for faster internet connections to adopt cutting-edge and innovative technologies will boost market progress in this market.

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Filters and Components Market Segmentation

By Product Type:

Based on the product, the air filter is expected to dominate the Filters and Components Market during the forecast period. Growing demand for air filter in the Filters and component market due to the growing use of gas turbines, engines and HVAC systems to enhance air quality.

By Application:

Based on Application, the industrial segment is expected to dominate the Filters and Components Market. The automobile industry is one of the major forces behind the market for filters and components.

By End-Use Industry

By Sales Channel

By Material

• Synthetic
• Natural
• Metal materials

By Filtration Technology

• Mechanical
• Electrostatic
• Others

By Efficiency Level        

• Low
• Medium
• High

by Connectivity Technology

• Cellular technology
• ISM
• Wi-Fi
• GNSS
• Bluetooth
• Others

Filters and Components Market Key Players Include:

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Key questions answered in the Filters and Components Market are:

Key Offerings:

Maximize Market Research is leading research firm, has also published the following reports:

Single Use Filtration Assembly Market: Global Single Use Filtration Assembly Market is at USD 2.92 Billion, and is estimated to grow at a CAGR of 18.9% in the forecasted period. The forecasted revenue hints at a growth of around 9.81 billion USD by 2029. With advancements in technology, the process of single-use is more simplified and the progress will help the Single Use Filtration Assembly Market share grow.

Laboratory filtration Market: Laboratory filtration Market size was valued at USD 4.32 Bn. in 2022 and the total Cold Storage Construction Market revenue is expected to grow by 8 % from 2023 to 2029, reaching nearly USD 7.4 Bn. The rising use of filtering technology in the pharmaceutical, biopharmaceutical, and food and beverage sectors, as well as the growing need for more efficient filters, are the primary drivers driving market growth.

Sterile Filtration Market: Sterile Filtration Market size was valued at US$ 5.52 Bn. in 2021 and the total revenue is expected to grow at CAGR 8.3 % through 2022 to 2029, reaching nearly US$ 10.45 Bn. Sterile Filtration growth is being driven by increasing pharmaceutical investment and the growing frequency of Chronic and Acute illnesses.

Aircraft Filter Market: Aircraft Filter Market is anticipated to reach US$ 1217.42 Mn by 2029 from US$ 824.00 Mn in 2021 at a CAGR of 5 % during a forecast period.

RF Filters Market: The RF Filters Market was valued at US$ 13 Bn. in 2021. The global RF Filters Market size is estimated to grow at a CAGR of 15.85%. The use of RF filters in different wireless system applications is a significant driver driving the market growth.

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