The global automotive air filters market size was USD 4.17 billion in 2015. The global automotive air filters market is estimated to witness huge growth on account of the rising automobile production. Favorable regulations and rise in automobile production are expected to drive the growth. Other aspects such as rapid industrialization and urbanization in the countries such as Malaysia, Indonesia, Vietnam, China, South Korea and India is expected to have direct positive impact on the overall market development.
R&D initiatives to develop better and superior quality products are expected to further have a positive effect on the market growth. On the regulatory front, directives and regulations related to emission control are expected to majorly impact global market. Euro VI petrol and diesel standard norms that regulate heavy and light vehicles are expected to increase the usage of textile in the automotive filters.
Manufacturers have been taking the appropriate initiative to increase their product portfolio and develop superior products to cater to the growing demand. Emerging economies such as China and India provide ample opportunities for the industry vendors.
U.S. automotive air filters market revenue by product, 2014 - 2024 (USD Million)
Cabin product segment had the highest penetration in the automotive air filters market with over 50% of the total market in 2015. The cabin is again expected to be the fastest growing product over the forecast period and is presumed to grow at CAGR of 9.4% from 2016 to 2024. Rising demand in Asia Pacific region is estimated to fuel the demand for cabin product.
In 2015, passenger car application segment witnessed the highest penetration, accounting for over 50% of the overall automotive air filters demand and is expected to show a similar trend in the near future. Furthermore, the passenger car segment is also expected to have the highest growth with CAGR 9.0% in 2024. Growth in automobile production over the next eight years is expected to contribute to the increased usage of automotive air filters application for the interior parts.
Government initiatives related to environmental issues is expected to fuel the demand for passenger cars application segment. Automotive air filters used in the two wheelers application is expected to account about 10% of the overall market in 2024.
Aftermarket is expected to have the highest growth with CAGR of 8.9%. Favorable regulations and growing awareness among consumers regarding frequent changing of filter systems in the automobile to maintain the engine life and the proper cabin are expected to benefit the Aftermarket for automotive air filters.
Asia Pacific automotive air filters market accounted for more than 50% of the market in 2015. India governed the market over the past decade followed by China. North America promises significant growth. U.S. and Canada are countries expected to witness positive growth in the automotive consumption and thereby benefitting the overall industry in the region.
Europe is estimated to hold a significant share in the overall market. The region is expected to grow at an estimated CAGR of 6.3% from 2016 to 2024. The rise in automobile production will contribute to the growth. The UK automotive air filters market is expected to have significant growth over the next eight years.
The global automotive air filters market is highly competitive in nature. The leading companies are heavily investing in R&D to have a competitive edge over market participants. The companies are investing in research and development to develop better products and gain competitive advantage.
The key industry participants include Ac Delco Inc., Ahlstrom Corporation, Affinia Group Inc., Clarcor Inc., Denso Corporation, Freudenberg & Co. Kg, Hollingsworth &Vose Co. Inc., Lydall Inc., Mann+Hummel, Parker Hannifin Corp., Roki Co. Ltd, Toyota Boshoku Corporation. Cummins Inc., Donaldson Company Inc., Hengst GMBH & Co. Kg, K&N Engineering Inc., Mahle GmbH, Neenah Paper Inc., Robert Bosch GmbH, SogefiS.p.A. and Valeo S.A.
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