PUNE, India, July 11, 2018 /PRNewswire/ --
According to a new market research report "Automotive Air Purifier Market by type (Purifier, Ionizer, & Hybrid), Technology (HEPA, Activated Carbon, Ionic Filter, & Photocatalytic), Vehicle Class (Economy, Mid-Priced, & Luxury), End Market (OE & Aftermarket), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global market is estimated to be USD 792.7 million in 2018 and is projected to reach a market size of USD 2,286.9 million by 2025, growing at a CAGR of 16.34% during the forecast period.
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The Hybrid type segment is estimated to be the fastest growing market in the Automotive Air Purifier Market during the forecast period
The Hybrid type segment is estimated to witness the highest growth in the Automotive Air Purifier Market due to the rise in public awareness related to healthcare and environmental effects of air pollution. Rapid urbanization and industrialization have also fueled the growth of hybrid air purifier systems that are equipped with more than one type of purification system and provide better output compared to other systems.
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The HEPA segment is projected to be the largest market in the Automotive Air Purifier Market during the forecast period, by Technology
The HEPA segment is projected to be the largest market segment, by volume, of the automotive air purifier market during the forecast period. The HEPA segment is followed by ionic filters and activated carbon segment during the forecast period. The ionic filter segment will have steady growth whereas activated carbon will witness considerable growth in the automotive air purifier market. The growing concerns of healthcare and environmental effects from air pollution are expected to boost the demand for HEPA and activated carbon segment in vehicles.
Asia Pacific to be the fastest growing regional market for Automotive Air Purifier Market
Asia Pacific is projected to be the fastest growing market for automotive air purifier by 2025. The market growth in the region can be attributed to the rapidly growing automotive sector in countries such as China, Japan, South Korea, and India. Moreover, rapidly increasing middle-class population, improved lifestyle of consumers, and speedy urbanization has boosted the demand for passenger vehicles. These factors are expected to trigger the growth of the Automotive Air Purifier Market in the region.
Furthermore, the report encompasses different strategies, such as mergers and acquisitions, partnerships and collaborations, and product upgradations, adopted by major players to increase their share in the Automotive Air Purifier Market. Some of the major technology vendors include Panasonic (Japan), Denso (Japan) Bosch (Germany), 3M (US), Mahle (Germany), Mann+Hummel (Germany), Sharp (Japan), Honeywell (US), Koninklijke Philips (Netherlands), Eureka Forbes (India), Xiaomi (China), and others.
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