Press release
Automotive Cabin AC Filter Market Forecasted to Cross US$ 3,738.2 Mn by 2024
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.
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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.
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.
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Demand for automotive cabin AC filters is expected to increase at a significant rate due to steady rise in vehicle production around the globe. Rising adoption of automotive cabin AC filters to filter pollutants and dust particles and a rising demand for efficient HVAC systems are major factors expected to drive the demand for automotive cabin AC filters worldwide. Cabin AC filters are an integral part of the HVAC system in vehicles. However, many vehicle owners are not aware that this system exists in a vehicle, and hence they are unaware about the replacement cycle of the cabin AC filter. This factor is expected to marginally restrain the growth of the automotive cabin AC filter market over 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.
The report profiles some of the leading market players in the global automotive cabin AC filter market – Mann+Hummel GmbH, Sogefi SpA, Donaldson Company, Inc., Robert Bosch GmbH, Denso Corporation, Ahlstrom Corporation, MAHLE GmbH, Freudenberg & Co. KG, Hengst SE & Co. KG, ALCO Filters Ltd., K&N Engineering, Inc., EuroGIELLE S.r.l, ACDelco, and Airmatic Filterbau GmbH.
Global Market Study on Automotive Cabin AC Filter is available for US$4,900 http://www.persistencemarketresearch.com/checkout/11359
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