The global automotive
air filters market is expected to
reach USD 8.62 billion by 2024, according to a new report by Grand View
Research, Inc. Rising disposable income coupled with the growth of global
automobile industry and stringent emission norms is expected to drive the
market growth over the next eight years.
The
global automotive air filters market is estimated to witness a high growth
owing to rising automobile production along with rapid industrialization and
urbanization. Stringent emission control regulations are expected to foster the
market growth.
U.S. automotive air filters market revenue by
product, 2014 - 2024 (USD Million)
Growing
disposable income in developing regions such as Asia Pacific and the Middle
East is presumed to drive the growth. Economies such as India and China are
projected to have brisk growth and lead their regional market. Volatile raw
materials cost is presumed to hamper the industry growth. The increase in
electric vehicles production is also estimated to hinder the market growth
shortly.
Favorable
regulation such as EU and EEA member states emission standards which include
Euro VI petrol and diesel norms. This norm is to govern light and commercial
passenger vehicles emissions and is anticipated to have a positive impact on
automotive air filters demand in engine components.
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Further key findings from the report suggest:
· Cabin filter emerged as the leading product segment and accounted for
51.6% of total market revenue in 2015. Cabin filters are estimated to grow at a
rapid pace at an estimated CAGR of a 9.1% from 2016 to 2024. The growth can be
attributed due to favorable emission control regulation and consumer concern
towards safe car environment.
· Passenger car application segment dominated the automotive air filters
demand & accounted for over 50% of the total market in 2015. Increasing
demand in automobile industry coupled with rapid automobile production is
expected to benefit the overall filters demand in automotive.
· In 2015, Aftermarket segment in end-use had the highest penetration in
the automotive air filters market with over 70% of the total market. This trend
is expected to continue over the next eight years. Rising disposable income
across emerging nations is estimated to favor the market growth.
· Asia Pacific had the highest regional market penetration in 2015 and
accounted for over 45% of global demand. Increasing automobile production in
India, China, Thailand and Indonesia is expected to drive the regional market
over the forecast period.
· Key market participants include Ac Delco Inc., Affinia Group Inc., Denso
Cor-poration, Hollingsworth & Vose Co. Inc., Mann+Hummel, Roki Co. Ltd,
Donaldson Company Inc., K&N Engineering Inc., Robert Bosch GmbH, Ahlstrom
Corporation, SogefiS.p.A, Neenah Paper Inc., Clarcor Inc., Parker Hannifin
Corp., Freudenberg & Co. Kg, Lydall Inc., Toyota Boshoku Corporation, Cummins
Inc., Hengst GMBH & Co. Kg, Mahle GmbH and Valeo S.A.
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Research at:
Grand View Research has
segmented the global automotive Air filters market on the basis of product,
application, end-use and region:
Global Automotive Air Filters Application Outlook (USD Million, 2014 -
2024)
·
Passenger car
·
Light and heavy commercial vehicle
·
Two wheelers
Global Automotive Air Filters Product Outlook (USD Million, 2014 - 2024)
·
Intake
·
Cabin
Global Automotive Air Filters End-Use Outlook (USD Million, 2014 - 2024)
·
OEM
·
Aftermarket
Global Automotive Air Filters Regional Outlook (USD Million, 2014 -
2024)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
France
o
Spain
·
Asia Pacific
o
China
o
India
o
Japan
o
South Korea
·
Middle East & Africa
·
Central & South America
View press release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-automotive-air-filters-market
www.grandviewresearch.com/press-release/global-automotive-air-filters-market
About Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
