According to a new report published by Allied Market Research, titled, “Automotive Air Filters Market,” The automotive air filters market was valued at $4.7 billion in 2020, and is estimated to reach $7.8 billion by 2030, growing at a CAGR of 5.4% from 2021 to 2030.
𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗙𝗿𝗲𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 – https://www.alliedmarketresearch.com/request-sample/14180
Prime determinants of growth-
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.
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.
The passenger cars segment to maintain the lion’s share-
By vehicle type, the passenger cars segment accounted for the major share in 2020, holding more than four-fifths of the global automotive air filter market. The same segment is also expected to grow at the fastest CAGR of 5.6% from 2021 to 2030. This is attributed to the fact that several automobile manufacturers are launching new passenger cars with improved cabin air filters in order to provide improved HVAC (heating, ventilation, and air conditioning) systems in vehicles.
The cabin air filters segment to dominate by 2030-
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.
𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝘁𝗼 𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝘁𝗵𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁? 𝗜𝗻𝗾𝘂𝗶𝗿𝗲 𝗕𝗲𝗳𝗼𝗿𝗲 𝗕𝘂𝘆𝗶𝗻𝗴 – https://www.alliedmarketresearch.com/purchase-enquiry/14180
Key players in the industry-
- Denso Corporation
- Donaldson Company, Inc.
- Hengst SE
- MANN+HUMMEL International GmbH & Co. KG
- Hanon Systems
- Mahle GmbH
- Robert Bosch GmbH
- Ahlstrom-Munksjo Oyj
- Sogefi S.P.A
- General Motors Company (AcDelco)
- Alco Filters Ltd
- CabinAir Sweden AB
- Freudenberg Filtration Technologies SE & Co. KG
- Cummins Inc.
Asia-Pacific garnered the major share in 2020-
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.
KEY FINDINGS OF THE STUDY
- By type, the cabin air filters segment is anticipated to exhibit significant growth in the near future.
- By vehicle type, the passenger cars segment is anticipated to exhibit significant growth in the near future.
- By propulsion, the electric vehicles segment is anticipated to exhibit significant growth in the near future.
- By sales channel, the OEM segment is anticipated to exhibit significant growth in the near future.
- By region, Europe is anticipated to register the highest CAGR during the forecast period.
𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 𝗼𝗻 @ https://www.alliedmarketresearch.com/automotive-air-filters-market/purchase-options