Rise in passenger vehicle sales to drive automotive air filters market growth
Global market Insights has announced addition of a new study based report on automotive air filters market. The report estimates this market to be worth USD 7.2 billion by 2022, at a growing CAGR of 8.1% from 2015 to 2022 owing to escalating demand for two wheelers and passenger particularly in BRICS countries because of growing disposable income and rising industrialization rate. The automotive air filters industry is largely determined by the trends in the automotive industry globally. Furthermore, increasing awareness regarding health disorders related to contaminated air and growing air pollution is also projected to positively impact the market growth. Growing air pollution is a key factor to drive the industry growth.
View a summary of the “Automotive Air Filters Market Size, Industry Analysis Report” @ https://www.gminsights.com/industry-analysis/automotive-air-filters-market
The report covers comprehensive market overview including definition, application and segmentation on the basis of region, product, end-use, application and competitive landscape. The report includes in-depth analysis of the market with focus on key factors that influence the market like drivers, impediments, opportunities and challenges.
Growth of electric vehicle industry owing to its features like less maintenance, negligible gas emissions, and environment friendly is expected to influence automotive air filter demand. Advent of electric vehicles is likely to hamper automotive air filters industry growth.
Cabin filters are projected to continue its dominance in the global automotive air filters product segment and witness substantial growth during the projected period. Intake filters are likely to upsurge at a projecyed CAGR of over 7% in the near future owing to rising consumer awareness about the long lasting automotive engines.
Passenger cars dominated the application segment and is expected to observe growth during the projected time frame owing to growth in tourist and personal vehicles. Light & heavy commercial vehicles are forecast to grow steadily.
Aftermarket is likely to dominate the end use segment with maximum gains over the anticipated period. The growth attributed to rising need of air filters replacements.
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Asia Pacific is projected to be the dominant region owing growth in automobile production growth in the region. U.S. market size is likely to register substantial growth over 8% by 2022.
Highly fragmented global automotive air filters market has witnessed frequent mergers and acquisitions. The report features competitive analysis of the key players with profiles, business strategies, current trends, and financial metrics listed in the report. The key players covered in the report include Denso Corporation, Cummins Inc., Lydall Inc., Ahlstrom Corporation, Parker Hannifin Corp., K&N Engineering Inc., Toyota Boshoku Corporation and Roki Co. Ltd.
Author Name : Dhananjay Punekar
