Car Air Filter Market Scenario Highlighting Major Drivers & Trends, 2017-2022 | Key Players - Freudenberg & Co. KG, Hollingsworth & Vose Company, Champion Laboratories, Denso Corporation, Donaldson Company, General Motors, MAHLE GmbH, UFI Filters Spa
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The increasing sales of automobiles, particularly cars, is the main driver for the growth of the car air filter market. Also, as the car air filter needs to be changed at regular intervals, there is a huge aftermarket demand for car air filters. However, since the future of the automobile is centered on the electric vehicles, in which there is no combustion of fuel, the market growth for car air filters is being affected negatively.
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.
This Fact.MR report on the global car air filter market forecasts that the global car air filter market will touch a value of nearly US$ 9,916 Mn in the year 2022 and grow at a sluggish CAGR during the assessment period.
Europe Market Set to Dominate the Global Car Air Filter Market in Terms of Revenue
The 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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Cabin Air Filter Segment Poised to Touch a Value of Nearly US$ 4,550 Mn in 2022
As per the forecast of Fact.MR, the cabin air filter segment is expected to reach a value of nearly US$ 4,550 Mn in the year 2022. This represents a sluggish CAGR during the forecast period of 2017-2022. Cabin air filter segment is expected to account for nearly half of the revenue share of the product type segment by the year 2017 and is expected to lose market share by the end of the year 2022.
OEM Car Air Filter Segment to exhibit a CAGR of 3.1% During the Assessment Period
As per the forecast of Fact.MR, the OEM car air filter segment is slated to touch a figure of nearly US$ 1,910 Mn in the year 2022. This represents a CAGR of 3.1% during the assessment period from 2017 till the year 2022. This segment is expected to gain market share by the end of the year 2022. The OEM car air filter segment is expected to account for nearly one-fifth of the revenue share of the sales channel segment by the year 2017.
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.
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