NEW YORK, June 11, 2018 /PRNewswire/ --
According to the new research report on MarketResearch.biz, "Global Automotive Air Filter Market by Product Type (Intake Air Filters and Cabin Air Filters), By End Use, By Application, and Region - Global Forecast to 2026.", which offers a holistic view of the automotive air filter market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017-2021) is projected to be over US$ 25 Bn, which is expected to increase rather moderately over the latter part of the five-year forecast period.
An automotive air filter is a device composed of fibrous materials, which removes solid particulates such as dust, pollen, and bacteria from the air. The filter contains absorbent or catalyst like charcoal which helps to remove gaseous pollutants such as volatile organic components or ozone. Air filters are most commonly use in such applications where air quality is important. Materials used in production of automotive filters are fibrous weave, synthetic mesh, and semi-permeable membranes.
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Global Automotive Air Filter Market: Market Dynamics
Increasing demand for automobiles and rising health concerns among individuals are resulting in increasing demand for air filters and are major factors expected to drive growth of the global automotive air filter market over the forecast period. In addition, increasing carbon emissions levels is another factor expected to fuel growth of the global automotive air filter market over the forecast period. Furthermore, stringent government and environmental regulations are other factors expected to support growth of the target market in the near future.
However, introduction of electric vehicles is a major factor expected to restrain growth of the global automotive air filter market over the forecast period. In addition, air filters are needed to replace after certain period of span, thus high maintenance cost is expected hamper growth of the global automotive air filter market in the near future.
Ongoing trend observed in the global automotive air filter market is increasing adoption of air conditioning systems in passenger cars segment to provide an ambient cabin space to occupants.
Technological advancements and increasing R&D activities by manufacturers such as development of cost-effective, polyurethane-based adhesive filters, and customizable air filter are expected to create potential opportunities in terms of revenue to players operating in the global automotive air filter market over the forecast period.
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Global Automotive Air Filter Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global automotive air filter market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global automotive air filter market is expected to expand at a CAGR of over 7.1% during the forecast period.
Global Automotive Air Filter Market: Segmental Snapshot
The market report has been segmented on the basis of product type, end-use, application and region. The product type segment includes intake air filter and cabin air filter. The end-use segment includes OEM and aftermarket. The application segment includes passenger cars, commercial vehicles, and two wheelers.
The regions covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By product Type: The intake air filter segment accounted for highest revenue share contribution in 2016, as compared to cabin air filter segments, and is expected to register a CAGR of over 6.5% between 2017 and 2026.
By End-use: The OEM segment is projected to account for highest revenue share as compared to aftermarket segments, and register a CAGR of around 6.5% over the forecast period.
By Application: The passenger car segment is projected to account for highest revenue share as compared to other application segments, and register a CAGR of around 7% over the forecast period.
By region: The market in Asia Pacific accounted for highest revenue share in the global automotive air filter market in 2016, and is expected to register a CAGR of over 7% between 2017 and 2026.
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Global Automotive Air Filter Market: Competitive Analysis
The research report on the global automotive air filter market includes profiles of some of the major companies such as Donaldson Company, Inc., Cummins Inc., DENSO CORPORATION, Mann + Hummel Holding GmbH, Sogefi S.p.A., Ahlstrom Corporation, Hengst SE & Co. KG, MAHLE GmbH, Robert Bosch GmbH, UFI FILTERS spa, and K&N Engineering, Inc.
The Global Automotive Air Filter Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017-2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global automotive air filter market for 2017-2026.
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