Dublin, January 28, 2022 /PRNewswire/ — “Automotive Air Filter Market – Forecasts from 2021 to 2026” report added to of ResearchAndMarkets.com Presentation.
The value of the automotive air filter market was US$4.962 billion In 2019 and to reach the market size expected to grow at a CAGR of 7.92% over the forecast period US$8.460 billion until 2026.
The growth in the automotive air filter market is attributed to increased standard of living, higher consumer spending power and higher passenger transport.
Additionally, growing concerns about pollution from vehicular smoke are driving growth. One of the key market drivers is the increasing demand for automotive products due to government regulations relating to vehicle emissions.
This is partly due to the growing automotive sector in the BRIC countries, as well as the implementation of stricter emissions laws and the presence of regulatory authorities such as the EPA. United States,
Moreover, the automotive air filter market is expected to grow due to the growth trend in passenger transportation in developed countries. Intake of better air quality in the engine and cabin will enhance passenger comfort, thereby giving a further boost to the market.
Every automotive internal combustion engine must be fitted with a clean air filter to allow more air to flow through the cylinders. To prevent dirt, dust, grit, and other debris from damaging the cylinders, these products clean the air before it passes through them.
Owing to the above advantages, the automotive air filter market is expected to grow. in developed areas such as North America And EuropeWell-established regulatory framework is expected to drive demand for automotive air filters, along with the expansion of the automotive industry in sectors such as Asia, The Middle East, And Africa,
Expansion of Automotive Industry:
The main driving force behind the growth of this market is the expanding automotive industry, especially the increasing production of passenger cars. In addition, car consumers have also realized the importance of air filters to prevent dust from entering their cars, leading to a boom in the market.
These factors are responsible for the growth of automotive air filter market. With increasing disposable income among consumers across the globe, auto sales have increased and the passenger car segment has grown rapidly.
The majority of market share is attributed to economies of: Asia Pacific area like China, India, Indonesia, And Japan Because of their rapid economic growth. During the forecast period, the popularity of cabin air filters is expected to increase due to the increasing number of electric and hybrid cars. In the automotive air filter industry, the presence of major players such as Toyota, Honda, Hyundai, Cheri, Tata, Maruti, Isuzu and Suzuki has a significant impact on the growth of the industry in the region.
As sales in the aftermath of the pandemic Asia Failing to gain momentum, the Renault Group has announced a partnership with a company based in China, to bring hybrid vehicles of china Rapidly growing Asian market, Renault Group will share resources and technology with Geely Holding, of china The largest privately owned automotive group. Both the companies will simultaneously release a range of Renault branded hybrid vehicles China And the pair plan to sell the cars South Korea Using the Geely subsidiary, Link & Co.’s energy-efficient vehicle technology.
The most common air filters currently available are made from cellulose media, which is expensive. Various technological advancements in air filters including synthetic media are now gaining popularity due to their improved performance, less sensitivity to moisture and more efficient air flow.
This market is expected to grow due to all these advanced properties of synthetic materials over the forecast period. Demand for automotive air filters is projected to increase as more luxury cars are being manufactured, including air filters and intake manifolds designed to improve vehicle efficiency. The need for frequent replacement of air filters of luxury cars is also expected to fuel the growth of the market.
Adoption of electric vehicles:
Growing consumer interest in plug-in/battery electric vehicles is most likely to hinder the market growth due to its features, which emit no pollutants and require no fuels such as gasoline and diesel.
Additionally, lower maintenance costs and lower overall expenses can also contribute to the development of eco-friendly electric vehicles (EVs). As a result, the increasing popularity of electric vehicles among consumers is expected to hinder and decrease the size of the market for automotive air filters.
British Prime Minister, boris johnsonpublished a 10-point plan for the Green Industrial Revolution in 2020 that included banning the sale of new petrol and diesel vehicles by 2030. Israel And Singapore Similar time limit has also been fixed.
President Joe Biden had vowed to achieve zero-emissions cars for half of all vehicles sold in the U.S. United States by 2030. Both fully electric and plug-in hybrid cars are part of their plan.
As part of a joint statement, General Motors, Ford Motor Co., and Chrysler parent Stelantis NV each said they aim to sell 40-50% of US volume of electric vehicles by 2030.
Impact of COVID-19 on the Automotive Air Filter Market
Slowdown in growth due to interruption in automotive production:
The COVID-19 pandemic has had a profound impact on the automotive industry, bringing production to a halt everywhere. In light of the fact that the growth of this industry is directly related to vehicle production, this situation is expected to impact the market. Automotive air filters will be adversely affected by the decline in automobile production.
This market is also likely to be affected by higher cost of filters and volatility in raw material prices. The impact of COVID-19 on this market has halted the global manufacturing of air filters. As a result, the supply chain between automotive manufacturers has been disrupted.
mention of companies
Mann + Hummel
Hengst SE & Co. KG
Roki Co., Ltd.
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