Asia Pacific automotive air filters market, which dominated the global revenue in 2014, is expected to witness a noticeable surge over 2015-2022. The growth can be credited to rise in number of manufacturing units, owing to favorable legislations and the availability of affordable workforce. Furthermore, high demand for vehicles has contributed significantly towards the regional growth.
North America automotive air filters industry is expected to register a CAGR of 8% over the period of 2015-2022, owing to stringent pollution control norms coupled with heavy demand for air filters. U.S. is expected to be a major regional revenue contributor.
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Major automotive air filters products include intake automotive air filters and cabin automotive air filters. Cabin automotive air filters market, which contributed over half of the global revenue in 2014, is expected to witness a high surge over the coming six years. The growth can be attributed to enhanced demand for air filters as a result of rising levels of environmental pollution due to fuel emissions from vehicles. Furthermore, they help in reducing pollutants in vehicle and offer maximum level of comfort for drivers. Intake automotive air filters market is projected to record a CAGR of 7% over the period of 2015-2022.
Automotive air filters find application in passenger cars, light & heavy commercial vehicles, and two wheelers. Passenger car sector, which contributed 51.7% of global automotive air filters market share in 2014, is predicted to witness a high surge over the coming years. The growth can be attributed to rising purchasing power and increase in number of tourist vehicles. Automotive air filters market size in two-wheeler sector is anticipated to register a CAGR of 8.6% over 2015-2022. Its application in light & heavy commercial vehicle sector is expected to grow at a rate of 6.5% over the period of 2015-2022.
Automotive air filters industry size is projected to reach USD 7.2 billion by 2022 due to the rising popularity of passenger cars along with growing two-wheeler vehicle trend. Global demand for passenger vehicles estimated at 58 million in 2012, is predicted to touch nearly 80 million by 2018. Furthermore, growing health awareness among the consumers is expected to stimulate global automotive air filters market. EPA and CCC have demonstrated that automobiles, without proper air filters and ventilation facility, can cause health problems as well as ecological damage. Installation of air filters in automobiles is one of such measures suggested by EPA to reduce health hazards caused due to fuel emissions from vehicles.
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Global automotive air filters market share is highly consolidated and is expected to witness various strategic collaborations & acquisitions over the estimated timeframe. Key industry players include Denso Corporation, Lydall Incorporation, Parker Hannifin Corporation, Toyota Boshoku Corporation, Roki Company Ltd, Cummins Incorporation, and Ahlstrom Corporation.
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