Industry Outlook and Trend Analysis
The Automotive Air Filters Market was worth USD 3.35 billion in the year of 2012 and is expected to reach approximately USD 8.02 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 8.16% during the forecast period. The worldwide automotive air filters market is evaluated to witness immense development by virtue of the rising vehicle creation. Supportive regulations and ascend in the production of automobile are relied upon to drive the development. Different perspectives, for example, fast industrialization and urbanization in the nations, for example, China, Malaysia, Vietnam, Indonesia, India and South Korea is required to have a positive effect on the general market growth. Research and development activities to create excellent quality items are anticipated to additionally influence the market development in a positive manner. On the administrative front, orders and directions associated with discharge control are anticipated to significantly affect worldwide market. Euro VI petroleum and diesel basic standard that direct light and heavy vehicles are relied upon to boost the utilization of textile in the automotive filters. Producers have been taking significant efforts to enhance the product portfolio and make superior quality items to meet the growing demand. Developing economies like India and China render major opportunities to the market players.
Product Outlook and Trend Analysis
In 2015, the cabin product segment had the most elevated infiltration in the automotive air filters market with a share of 50 percent of the total market volume. The cabin is again anticipated that would be the quickest developing item finished the gauge time frame and is ventured to develop at significant rate in the upcoming years. Increasing requirement in Asia Pacific locale is evaluated to fuel the interest for cabin item.
Application Outlook and Trend Analysis
The passenger car section encountered the most elevated penetration in 2015, by representing a share of 50 percent of the total demand and is anticipated to reflect significant growth in the upcoming years. Development in the manufacturing of automobile in the following years is anticipated to boost the usage of automotive air filters application for the interior parts. Efforts made by the government in regard with environmental concerns are foreseen to spur the requirement for passenger cars applications.
End User Outlook and Trend Analysis
Aftermarket is anticipated to have the most elevated developing in the upcoming years. Supportive regulations and increasing awareness among customers associated with timely changing of filter systems in order to keep the engine intact and appropriate cabin are anticipated to supplement Aftermarket for automotive air filters.
Regional Outlook and Trend Analysis
In 2015, the Asia Pacific automotive air filters market registered for more than 50 percent of the total market. The market was dominated by India over the past ten years trailed by China. North America reflects substantial growth. Canada and United States are nations that are anticipated to encounter lucrative development in the consumption of automotive, hence, supplementing the overall industry in the area. Europe is anticipated to possess a substantial share of the market. Increasing automotive production is anticipated to boost the development.
The global automotive air filters market is extremely aggressive in nature. The major organizations are vigorously putting resources into R&D to have a focused edge over market members. The organizations are putting resources into innovative work to create better items and increase upper hand. The major players in the market are Ahlstrom Corporation, K&N Engineering, Hollingsworth & Vose, Neenah Paper Inc, Toyota Boshoku Corporation, Lydall Inc, Denso Corporation, Affinia Group Inc, Parker Hannifin Corp, Hengst GMBH & Co, Robert Bosch GmbH, MAHLE GmbH, Sogefi and Mann+Hummel.
The global Automotive Air Filters Market is segmented as follows :
Light & heavy commercial vehicles
By End User:
Rest of Europe
Rest of Asia-Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2012 and forecast from 2013 to 2022?
What will be the industry market growth from 2013 to 2022?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?