OEM Car Air Filter Segment to exhibit a CAGR of 3.1% During the Assessment Perio
Posted by Arslan on February 18th, 2019
Global car air filter market is witnessing steady demand from all across the globe. This is due to the reason that car air filters are an integral part of the automobiles as they protect the internal combustion engine from dust particles and grime coming from the air that mixes with the fuel in the engine. If the air filter of a car is not clean, it may result in damage to the engine of the car. Besides this, the car will not function in an optimal manner and will exhibit reduced mileage and black sooty smoke or flames coming out from the exhaust if the air filter is worn out or not replaced at a proper time. The increasing sales of automobiles, especially cars, is the main driver of the global car air filter market. However, as the future of the automobile industry is centered on the electric cars, in which no fuel is burnt in the engine, the market for car air filter may get restricted during the assessment period. This is especially true of the European market, where electric cars are becoming popular due to the strict air pollution emission norms prevalent in the region.
A car air filter is used to clean the air going into the internal combustion engine and remove debris like dust, bacteria and pollen from the intake air and make it fit for combustion. A car air filter is made of fibrous materials and these fibers may also contain charcoal or other absorbents to remove odors and other gaseous pollutants from the air that is entering the engine.
Europe Market Set to Dominate the Global Car Air Filter Market in Terms of Revenue
The car air filter market in Europe is set to dominate the global car air filter market in terms of value and this trend is projected to sustain itself throughout the assessment period. Europe car air filter market is the most attractive market, growing at a sluggish CAGR over the assessment period.
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As per the forecast of Fact.MR, the compact passenger cars segment is slated to reach a value of nearly US$ 2,479 Mn in 2022. The compact passenger cars segment is expected to gain some market value by the end of the year 2022. The largest share is contributed by the Europe region in the compact passenger cars segment.
Fact.MR forecasts that the cellulose car air filter segment will exhibit a CAGR of 3% from 2017 to 2022. Cellulose car air filter segment is estimated to account for nearly one-third of the revenue share of the filter media segment by 2017 end and is expected to gain some market share by the end of the year 2022.
The report also profiles companies that are expected to remain active in the expansion of global car air filter market through 2022, which include Freudenberg & Co. KG, Hollingsworth & Vose Company, Champion Laboratories, Inc., Denso Corporation, Donaldson Company, Inc., General Motors, MAHLE GmbH, UFI Filters Spa and Alco Filters Ltd.Also See: Car Air, Air Filter, Filter Market, Global Car, Market, Filter, Car
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