The latest market report published by Credence Research, Inc. “Global Automotive Air Filters Market: Growth, Future Prospects, and Competitive Analysis, 2017 – 2030”. The Global Automotive Air Filters Market generated revenue of around USD 10946.5 million in 2022 and is anticipated to grow a CAGR of over 4.2% during the forecast period from 2023 to 2030 to reach around USD 13554.57 million in 2030.
The primary driver of the market growth for automotive air filters is the rising concern over health issues brought on by the emission of unwanted, harmful gases from vehicles. Due to strict regulations, the implementation of emission laws, the growth of the automotive industries in BRIC countries, and the presence of regulatory bodies like the EPA in the United States. Additionally, the passenger transportation industry has been growing in several developed countries; as a result, enhancing the engine and cabin air intake quality will enhance passenger comfort and support market growth.
The global Automotive Air Filters market is bifurcated into Type, Vehicle Type, Propulsion, Sales Channel, and Geography. Based on type, the market is categorized into Air Intake Filters and Cabin Air Filters. On the basis of Vehicle Type, the global market is segmented into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles. Based on Propulsion, the market is categorized into ICE, Hybrid Vehicles, and Electric Vehicles. On the basis of the Sales Channel, the global market is segmented into Original Equipment Manufacturers (OEM) and Aftermarket. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
North America is anticipated to hold the largest market share in 2022. The U.S. economy is very beneficial for the automotive sector because there are more businesses in the area. Due to the presence of OEMs like General Motors and Ford, the market in the area is predicted to expand. The Asia Pacific region is anticipated to grow at the fastest CAGR during the forecast period. OEMs have increased vehicle production in the region, with China accounting for the lion’s share of this increase due to shifting consumer preferences, rising middle-class per capita income, and cost advantages.
The Automotive Air Filters Market Major Challenges are not to be underestimated. One of the main challenges is the increasing demand for greener solutions and environmentally friendly products. This means that manufacturers need to develop air filters that have a low impact on the environment, but still maintain high efficiency levels. Another challenge is the development of electric cars, which do not require air filters in their engines, potentially reducing demand for traditional automotive air filters. Additionally, there is a growing trend towards disposable products rather than reusable ones, which could lead to increased costs and waste management issues in disposing of used filters. Lastly, competition among manufacturers has intensified with new players entering the market and developing innovative products at lower prices while maintaining quality standards.
Automotive Air Filters Market Drivers are the various factors that influence the growth and demand of air filters in the automotive industry. One of the primary drivers is increasing concerns about air pollution and its harmful effects on human health, which has led to strict regulations mandating cleaner emissions from vehicles. This has pushed automakers to adopt advanced technologies for reducing emissions, thereby driving up demand for high-performance air filters. Another key driver is the growing trend towards vehicle electrification, as electric vehicles require efficient cabin filtration systems to remove pollutants from indoor air.
The automotive air filters market is expected to experience significant growth worldwide due to several factors:
- Increasing demand for clean air: With the increasing concern over air pollution, governments worldwide are imposing stricter regulations on vehicle emissions. Automotive air filters play a crucial role in reducing the amount of pollutants emitted by vehicles, which is driving the demand for these filters.
- Growing automotive industry: The global automotive industry is experiencing steady growth, which is expected to drive the demand for automotive air filters. As more vehicles are produced and sold worldwide, the demand for air filters will also increase.
- Emphasis on vehicle maintenance: Regular vehicle maintenance is becoming increasingly important for ensuring optimal performance and longevity. This includes replacing air filters, which can become clogged over time and reduce engine performance. This is driving the demand for automotive air filters in the aftermarket.
- Increasing awareness of health risks associated with air pollution: The negative health effects associated with air pollution are becoming more widely recognized, which is driving the demand for automotive air filters that can help reduce exposure to pollutants.
- Technological advancements in air filter technology: Automotive air filter manufacturers are constantly innovating to improve the performance and efficiency of their products. For example, some manufacturers are developing filters with higher filtration efficiency and longer lifetimes, which can help reduce maintenance costs and improve engine performance.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global Automotive Air Filters market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2018-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape like how the key players in the market are operating at a global, regional, and country level
- In-depth global automotive air filters market segmentation analysis based on Type, Vehicle Type, Propulsion, and Sales Channel.
- The global Automotive Air Filters market report also includes analyzing the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
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