Automotive Air Filters Market is Likely to Cross Over USD 6 Billion Till 2020
Posted by Marketoverview on August 28th, 2017
Automotive Air Filters Market is likely to cross over USD 6 billion by the end of 2020.According to the new research report by Hexa Research, The growing demand of automotive industry, especially in nations like BRIC, with growth in industrialization and increase in disposable income to remain a key driving factor in the global market. Rising consumer awareness regarding health disorders that are caused due to contaminated air the car cabin is also estimated to have a positive influence on industry. Global automotive air filters segment was dominated by Cabin filters which contributed for over 50% of total market revenue in 2013.These product segment are expected to be the fastest growing product segment at an approximate CAGR over 8.5% from 2015 to 2020.Consumers’s focus towards the reducing the bad odor and reducing the health disorders caused by air pollutants inside the vehicles is estimated to increase demand for cabin filters over the forecast period.
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Largest application for automotive air filters market was Passengers cars which contributed for around 51.3% of market revenue globally in 2013.With growing passenger’s cars ownerships especially in emerging markets of Brazil, India and China are likely to drive air filter demand in passenger cars. The demand for Automotive air filter is estimated to grow for two wheelers with CAGR for around 8.3% from 2015 to 2020.In 2013, Aftermarket dominated automotive filter demand contributing for total 49.1% of market revenue. Major regional market for Automotive Air filters were Asia Pacific, estimated to grow at the CAGR of around 8.4% from 2015 to 2020.
In 2013, Major Market participants were accounted for around 50% of market revenue. The market had experienced acquisitions and mergers in last few years. The market is about to move towards consolidation in upcoming years. Few leading participants operating in market are Mahle Industries, Mann + Hummel, Cummins and Affnia.
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