Allied Market Research published a report, titled, “Automotive Air Filters Market By Type (Air Intake Filters, Cabin Air Filters), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), By Propulsion (ICE and Hybrid Vehicles, Electric Vehicles), By Sales Channel (Original Equipment Manufacturer (OEM), Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021-2030.” According to the report, the global automotive air filter industry was estimated at $4.7 billion in 2020, and is anticipated to hit $7.8 billion by 2030, registering a CAGR of 5.4% from 2021 to 2030.
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Introduction of regulations regarding emission of greenhouse gases, increase in demand for luxury vehicles with greater cabin comfort, and rise in production & sale of automotive drive the growth of the global automotive air filter market. On the other hand, rise in demand for electric vehicles impedes growth to some extent. However, advancements in technology and surge in demand for the multi-filtration system are anticipated to pave the way for lucrative opportunities in the industry.
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Covid-19 scenario-
- Decrease in vehicle production and decline in sales of automobiles gave way to a shortage of automotive components, which resulted in delays of vehicles across the globe, thereby impacting the automotive air filter market negatively.
- However, as the global situation is getting better, the market is also projected to get back on track soon.
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By type, the cabin air filters segment contributed to the major share in 2020, holding around more than half of the global automotive air filter market. The same segment would also cite the fastest CAGR of 5.9% during the forecast period, since it aids in improving the car’s ventilation by removing particles such as dust, mold, pollen, and bacteria from the air.
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By region, the market Asia-Pacific had the lion’s share in 2020, generating more than two-fifths of the global automotive air filter market. Increase in sale of passenger cars with advanced features to reduce carbon footprints drives the market growth. The Europe region, however, is projected to portray the fastest CAGR of 6.3% by 2030. This is due to increase in sales of cars and electric vehicles in the province.
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Similar Reports We Have on Automotive Industry:
Automotive Filter Market by Filter Type (Fuel Filter, Engine Oil Filter, Engine Air Filter, Cabin Air Filters, Steering Filter, and Coolant Filter), Application (Passenger Cars and Commercial Vehicle), and Distribution Channel (OEM and Aftermarket) – Global Opportunity Analysis and Industry Forecast, 2017-2030.
Air Filters Market – Opportunities and Forecasts, 2014 – 2030.
Automotive Hydraulic Filters Market by Filter Type (Bag Filter, Screen Filter, Magnetic Filter, and Others), Filter Material (Metal Screens, Wire Mesh, Synthetics, Micro-Glass, and Others), Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles), and Sales Channel (Original Equipment Manufacturer (OEM), and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2020–2030.
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