Automotive air filters market size worth 7.2 billion by 2022
Automotive air filters market size is anticipated to be valued at USD 7.2 billion by 2022, as per a new research report by Global Market Insights, Inc. Increasing passenger car demand coupled with growth in two wheeler sales majorly in BRICs nations is likely to drive market. Post downturn recovery has witnessed growth in automobiles sales thereby factor likely to positively influence air filters market demand.
Increasing health awareness by regulatory agencies such as EPA and CCC, make sure consumers comply with proper filtration and ventilation systems in vehicles thereby influencing demand. Fluctuating prices of raw material such as PP nonwoven fabrics, fiberglass, ceramic and papers are likely to challenge overall profitability.
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Cabin filters were largest consuming products and accounted for over 50% of automotive air filters market share in 2014. Timely replacement of air filters owing to increasing pollution and restricting pollutants entering vehicle cabin is likely to drive demand. Intake air filters are likely to witness significant gains with an estimated CAGR of 7.5% from 2015 to 2022.
Automotive aftermarket dominated the end-use segment accounting for 71.9% of the revenue share in 2014. OEM end-use segment is likely to grow at an estimated CAGR of 7.2% owing to presence of unorganised automotive air filters market in countries such as China and India.
The market is highly fragmented with top six companies catering to below 50% of global market. Mergers and acquisition are observed in this industry to increase the regional presence. Major companies operating include Mann+Hummel, Ahlstrom Corporation, and Lydall Inc, Denso Corporation and Cummins Inc.
Key insights from the report include:
- Global automotive air filters market size was estimated USD 3.87 billion in 2014 and may register USD 7.2 billion by 2022, growing with an estimated CAGR of 8.1% from 2015 to 2022.
- Passenger car applications dominated consumption and accounted for 51.7% of the automotive air filters market share in 2014. Increase in spending capacity and growth in tourist vehicle segment is likely to drive the demand. Two wheeler applications are likely to witness highest gains at an estimated CAGR of 8.6% from 2015 to 2022.
For this report, Global Market Insights has segmented the automotive air filters market on the basis of product, application, end-use and region:
Global Automotive Air Filters Market Product Analysis (Revenue, USD Million, 2012 – 2022)
Global Automotive Air Filters Market Application Analysis (Revenue, USD Million, 2012 – 2022)
- Passenger Cars
- Light & Heavy Commercial Vehicles
- Two Wheelers
Global Automotive Air Filters Market End-Use Analysis (Revenue, USD Million, 2012 – 20220)