Automotive Air Filters Market Future Forecast Indicates Impressive Growth Rate

Posted by Vakhas on October 15th, 2019

The global automotive air filters market size is likely to reach at USD 9.30 billion by 2025, as per a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 8.5% over the forecast period. Growth in the automotive sector coupled with favorable regulatory scenario is expected to drive the market. Strict vehicular emission laws and stringent monitoring of fleet owners’ average fuel consumption coupled with the implementation of the Clean Air Act in U.S. is also expected to boost the overall market growth. Air filters installed in vehicles trap dust and other airborne particulate matter that may impact the engine efficiency. In the absence of an air filter, the emission level of vehicles is higher, with a significant share of nitrogen oxide.

Increasing disposable income levels in developing countries of Middle East and Asia Pacific are also likely to contribute to the industry growth. Fluctuating costs of raw materials along with increasing production of Electric Vehicles (EVs) are projected to hamper the industry growth. Favorable regulations, such as EU and EEA member states emission standards, which include Euro VI petrol and diesel norms that govern emissions of commercial and lightweight passenger vehicles are anticipated to have a positive impact on the product demand in engine components. Key companies in the market include Ahlstrom Corporation; Clarcor, Inc.; Cummins, Inc.; Donaldson Company, Inc.; and Lydall, Inc.

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https://www.grandviewresearch.com/industry-analysis/automotive-air-filters-market

Further key findings from the study suggest:

• Cabin product type accounted for 52.1% in 2018 owing to the stringent emission control regulations along with customer concern regarding safe automotive environment

• In 2018, OEM end-use segment accounted for 26.71% of the total market. Growing disposable income across developing nations is projected to boost the segment growth

• Passenger cars is said to be the largest application segment in the automotive air filters market due to higher product demand as a result of increasing automobile production

• Asia Pacific held the largest share of the market in 2018. Growing automotive production in Thailand, China, Indonesia, and India is predicted to drive the market further over the forecast period

• Key market participants include Affinia Group, Inc.; AC Delco, Inc.; Hollingsworth & Vose Co. Inc.; Denso Corporation; Roki Co. Ltd.; Mann+Hummel Group; K&N Engineering Inc.; Donaldson Company Inc.; Ahlstrom Corporation; Robert Bosch GmbH; Neenah Paper Inc.; Sogefi S.p.A; Parker Hannifin Corp.; Clarcor Inc.; Lydall Inc.; Freudenberg & Co. Kg; Cummins Inc.; Toyota Boshoku Corporation; Mahle GmbH; and Hengst GMBH & Co. Kg

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.