Press release
Automotive Cabin AC Filter Market Worth US$ 3,738.2 Mn by the end of 2024
A new Persistence Market Research report titled “Automotive Cabin AC Filter Market: Global Industry Analysis and Forecast, 2016–2024” presents market projections for the global automotive cabin AC filter market over an eight-year forecast period (2016–2024). The global automotive cabin AC filter market is estimated to be valued at US$ 2,198.4 Mn by the end of 2016 and is expected to reach US$ 3,738.2 Mn by the end of 2024, expanding at a CAGR of 6.9% over the forecast period. Global consumption of automotive cabin AC filters is estimated to be pegged at 366,547 thousand units by the end of 2016 and is expected to increase at a CAGR of 4.9% over the forecast period.
The global automotive cabin AC filter market is segmented on the basis of filter type (electrostatic, particulate, charcoal), vehicle type (passenger cars, LCV, HCV), and sales channel (OEM, aftermarket). Persistence Market Research projections indicate that the particulate filter type segment is likely to expand at a significant CAGR of 6.2% in terms of value over the forecast period. The electrostatic filter type segment is expected to register a volume CAGR of 7.1% over the forecast period. “The electrostatic segment is likely to exhibit steady growth in the near future due to the rising adoption of cabin AC air filters in the OEM and aftermarket categories in countries such as China, India, Brazil, and countries of MEA.” --- Analyst, Persistence Market Research.
The passenger car vehicle type segment is estimated to account for the largest market share of 76.3% by the end of 2016. This segment estimated to be valued at US$ 1,677.0 Mn by 2016 end and is expected to reach US$ 2,913.6 Mn by the end of 2024, expanding at a CAGR of 7.1% over the forecast period. The segment is expected to grow 1.7X in terms of value between 2016 and 2024.
The OEM sales channel segment is expected to expand at a CAGR of 5.6% over the forecast period while the aftermarket sales channel segment is expected to be the most attractive segment in terms of CAGR and market share index throughout the forecast period.
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Among regions, the market in Asia Pacific is expected to witness a relatively high CAGR of 10.5% in terms of value over the forecast period. North America and Europe are expected to contribute significant value share to the global automotive cabin AC filter market throughout the forecast period. The market for cabin AC filters is mature in Europe and North America as almost all the passenger cars are equipped with cabin AC filters.
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Among regions, the market in Asia Pacific is expected to witness a relatively high CAGR of 10.5% in terms of value over the forecast period. North America and Europe are expected to contribute significant value share to the global automotive cabin AC filter market throughout the forecast period. The market for cabin AC filters is mature in Europe and North America as almost all the passenger cars are equipped with cabin AC filters.
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To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
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