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.
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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summary of this report @ http://www.grandviewresearch.com/industry-analysis/automotive-air-filters-market
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 and 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 Corporation, 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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more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/automotive-and-transportation
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
For free press release of this report - http://www.grandviewresearch.com/press-release/global-automotive-air-filters-market
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Research
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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, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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