Automotive Air Filters Market Size to Grow USD 7.8 Billion by 2030 at a CAGR of 5.4% | Valuates Reports
BANGALORE, India, May 9, 2024 /PRNewswire/ -- Automotive Air Filters Market Segment By Type (Air Intake Filters, Cabin Air Filters), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), By Propulsion (ICE and Hybrid Vehicles, Electric Vehicles), By Sales Channel (Original Equipment Manufacturer (OEM), Aftermarket).
The Global Automotive Air Filters Market was valued at USD 4.7 Billion in 2020, and is projected to reach USD 7.8 Billion by 2030, growing at a CAGR of 5.4% from 2021 to 2030.
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Major Factors Driving the Growth of Automotive Air Filters Market
The market for automotive air filters is expanding due in large part to the strict emission rules that are in place all over the world. These requirements require advanced filtering technologies to be used in order to limit the hazardous pollutants that cars release. Furthermore, the growing global automobile production and sales along with the growing consumer awareness of the value of clean air in cars drive market expansion. Additionally, improvements in performance and durability via technical developments in filter materials and designs have led to an expansion in the market for vehicle air filters.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL AUTOMOTIVE AIR FILTERS MARKET
Because they guarantee the engine runs efficiently, air intake filters are essential components of light commercial vehicles with internal combustion engines (ICEs) as well as hybrid cars. By removing impurities like dust, grime, and debris from the air that enters the engine, these filters protect the engine's lifetime and performance. Clean air intake filters help ICE light commercial cars meet strict environmental laws by optimizing combustion, which improves fuel economy and lowers emissions. Similar to this, air intake filters in hybrid cars keep the engine's air supply clean, which improves the system's overall effectiveness. Reliability in air intake filters becomes more and more important as the demand for light commercial vehicles rises worldwide.
Vehicle makers must achieve fuel economy and pollution criteria through effective engine performance. In order to optimize combustion and lower emissions, clean air supply to the engine is made possible by air intake filters. As automakers concentrate on improving engine performance for all vehicle classes, there will likely be a steady increase in demand for premium air intake filters. The necessity for replacement filters and routine maintenance propels the aftermarket sector to a substantial share of the automotive air filter market. Owners of automobiles, both private and commercial, should change their air filters on a regular basis to maintain peak performance and extend engine life. Additionally, the aftermarket market gives producers the chance to launch cutting-edge goods and meet particular client needs, which further boosts the automotive air filters market growth.
The fast growth of the electric vehicle (EV) industry offers a distinct prospect for producers of automotive air filters. EVs still need cabin air filters to preserve the purity of the air inside the vehicle, even though they have fewer parts than internal combustion engine (ICE) cars. The need for cabin air filters designed specifically for electric cars is anticipated to develop along with the global adoption of EVs, which will propel the market for automotive air filters even higher.
Due to its capacity to lower pollutants and fuel consumption when compared to conventional internal combustion engine cars, hybrid vehicles are becoming more and more popular. Because hybrid cars include both electric motors and internal combustion engines, the engine part of the car needs air intake filters. There will be a corresponding rise in demand for air intake filters for hybrid cars as the market for these vehicles grows due to government incentives and environmental concerns.
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AUTOMOTIVE AIR FILTERS MARKET SHARE ANALYSIS
Europe would exhibit the highest CAGR of 6.3% during 2021 - 2030
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Key Companies:
- Cummins Inc
- General Motors Company
- Hengst SE
- CabinAir Sweden AB
- K&N Engineering, Inc
- MAHLE GmbH
- Denso Corporation
- Ahlstrom-Munksjo Oyj
- Toyota Boshoku Corporation
- Robert Bosch GmbH
- Valeo SA
- Freudenberg Filtration Technologies SE & Co. KG
- UFI FILTERS spa
- Hollingsworth & Vose GmbH
- MANN+HUMMEL International GmbH & Co. KG
- Donaldson Company, Inc
- Parker Hannifin Corporation
- Sogefi S.p.A
- ALCO Filters Ltd
- Hanon Systems
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