Rising demand for passenger cars and two-wheelers primarily in the BRICS countries, is the major factor driving the Automotive Air Filters Industry by 2024

Automotive air filters market size is forecast to grow at a CAGR of around 8% over the period of 2018-2024, exceeding a revenue of over USD 8 billion by 2024. Expansion of automotive industry will favor automotive air filters market share. Rising demand for passenger cars and two-wheelers primarily in the BRICS countries, is the major factor driving the industry share over the forecast timeframe.

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Segments Covered in this Report:

Automotive Air Filters Market Analysis, By Product

Intake
Cabin

Automotive Air Filters Market Forecast, By Application

Passenger car
Light & heavy commercial vehicles
Two wheelers

Automotive Air Filters Market, By End-Use

OEM
Aftermarket

Global passenger vehicle market is anticipated to surpass 90 million units by 2024 (in terms of sale). The increasing number of vehicles is posing a threat to the health & environment due to pollution emission from these vehicles. The demand for deploying proper ventilation and filtration system in these vehicles is boosting the growth of automotive air filters market. Associations like (EPA) and Environmental Protection Agency and (CCC) Car Care Council are spreading awareness about the hazardous effects of these pollution causing vehicle emissions and are emphasizing on deployment of proper vehicle filtration, in turn driving automotive filters industry growth.

However, rising trends of electric vehicles may hamper the industry growth over the forecast period.

The market is segmented in terms of products, applications, end-use, and regions.

Automotive air filters product market comprises of Cabin and Intake air filters.

Intake air filters are estimated to witness a CAGR of around 7% over the period of 2018-2024. The entry of dust particles inside the walls, pistons, cylinders, etc. can hamper the efficiency of the engine. Shifting consumer focus towards enhanced durability of the automobile engines is likely to drive the growth of intake air filters market.

Cabin air filters market accounted for over 50% of the overall industry share in 2017, and is anticipated to grow substantially over the coming period. Increasing demand for restricting the pollutants from entering the vehicle cabin is driving the growth of cabin air filters which are replaced annually to ensure optimum efficiency.

The application segment includes Passenger cars, two-wheelers, and light & heavy commercial vehicles.

Automotive air filters application in two-wheeler market is anticipated to witness highest gains at a CAGR of around 8.5% over 2018-2024.

Passenger car has been the dominant application segment accounting for over 50% of the overall market share in 2017. The industry will continue to grow significantly owing to the expansion in tourist vehicles and rising per capita income of the consumers which in turn boosts the car sale.

Light & heavy commercial vehicle application segment is likely to record a CAGR of around 6.5% over the forecast timeframe.

End use segment comprises OEM and aftermarket demand.

Aftermarket end use segment contributed towards approximately 70% of the overall market share in 2017, and is expected to generate maximum revenues over the coming eight years.

OEM end use segment is forecast to grow at a CAGR of around 7% over 2018-2024

Asia Pacific automotive air filters market dominated in 2017 with approximately 50% of the overall industry share. The region will witness a rapid surge over the coming years owing to increasing number of vehicles in countries such as China, India, Indonesia, and Thailand.

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U.S. market is forecast to register a CAGR of around 8% over the forecast period. High spending capacity, rising health concerns, and strict government norms are factors likely to drive the regional demand.

Key industry players include Cummins Inc., Ahlstrom Corporation, Lydall, Inc., K&N Engineering Inc., Parker Hannifin Corp., Toyota Boshoku Corporation, and Roki Co. Ltd.

Related Reports:

Mexico Automotive Aftermarket : https://www.reuters.com/brandfeatures/venture-capital/article?id=150483

France Precision Gearbox Market : https://www.reuters.com/brandfeatures/venture-capital/article?id=151619

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