Positive outlook on automotive production, particularly in emerging BRIC markets is expected to remain a key driving factor for the automotive air filters market. The global automotive air filters market was valued at USD 3.35 billion in 2012. An increase in disposable income levels in emerging economies coupled with growth in industrialization rates has played a critical role in global automotive industry growth.
Agencies such as the Car Care Council (CCC) and Environmental Protection Agency (EPA) have increased their efforts in creating awareness for health disorders caused due to prolonged exposure to intense pollution while driving, which is also expected to have a positive influence on market growth. Microorganisms can accumulate in the car which may result in the watering of eyes, asthma, nausea, allergic reactions and irritated mucous membranes. The threat of substitution, from growth in the electric vehicles industry, is expected to pose a challenge for automotive air filters market growth over the forecast period.
Consumer shift towards minimizing their operation & maintenance cost has given rise to the growth of electric vehicle industry. In addition to being economical, electric vehicles emit less hazardous gasses and require less maintenance for the engine when compared to combustion engine vehicles. Consumers are reluctant to replace filters and other automotive parts periodically, which has also played a role in pushing users towards electric vehicles. Manufacturers across the globe continue to be alarmed about coping with the pricing fluctuations of key raw materials, which has seen a surge in R&D for innovative ways to ease the risks associated with it.
Global automotive air filters market revenue, by product 2012-2020, (USD Million)
Intake and cabin air filters are the major products used in the market. Cabin air filters emerged as the leading product segment and accounts for more than half of total market revenue. Growing health disorders due to contaminated air in the car cabin make the journey unpleasant for the occupants; this is expected to have a positive influence on automotive air filters market.
Cabin air filters have become an integral part of automobiles these days, and most of the automobiles manufactured come in with cabin filter already installed in them irrespective of the fact that automobile is air conditioned or not. This shift is expected to drive the demand for cabin air filters over the forecast period. Using air intake filters helps in improving the engine performance by restricting polluted air and abrasive particles to enter which can cause oil contamination and mechanical wears to the engine. Use of air intake filters in terms of volume is comparatively higher than cabin air filters.
Automotive air filters are widely used for passenger cars, light & heavy commercial vehicles, and two-wheelers. Passenger cars are the leading application segment of automotive air filters market owing to the increase in passenger car ownerships particularly in emerging markets of Asia Pacific and Latin America. Rising disposable income level in countries such as China, India and Brazil has led to this increase in car ownership and further had a positive influence on global automotive air filters market.
Increasing awareness of health disorders among consumers related to improper ventilation in the cabin is also expected to act as a favorable factor for air filters market in passenger car segment. Air filters for two wheelers are expected to penetrate the market, especially in Asia Pacific due to inconvenience inroads in most of the rural areas. However, filter demand for two-wheelers is expected to remain stagnant across other parts of the world.
OEM and aftermarket are the two main end-use markets for automotive air filters. Use of air filters in the aftermarket is more prominent and accounts for nearly three-quarter of the overall market value. Growing demand for replacement air filters is expected to act as a favorable factor for automotive air filters aftermarket. Aftermarket for automotive air filters is projected to remain a cash cow for the overall market over the forecast period. The presence of large unorganized market in low-cost countries such as China and India pose a threat to major OEM air filters in terms of their quality and price offered. However, increasing production of passenger cars in Asia Pacific and Latin America is expected to drive the demand for OEM air filters.
Asia Pacific unfolded as the leading region for automotive air filters market accounting for close to half of the global market. The growth of automotive industry particularly in emerging markets of China and India is expected to remain a key driving factor for the regional market. Automotive air filters market developed economies of Europe and North America is characterized by stringent emission norms and growing consumer awareness of health disorders caused due to prolonged exposure to pollutants.
The global automotive air filters market is highly fragmented with top six companies catering to less than 50% of the global demand. The market on account of frequent mergers & acquisition is moving towards consolidation. Automotive air filters manufacturers have been investing in R&D to innovate novel technologies and fiber materials which have better filtration properties. In 2013, Clarcor Inc. acquired General Electric Company's air filtration business for USD 265 million. Denso Corporation declared merging of its industrial equipment subsidiaries Denso Wave and Denso Elecs. Co. Ltd., in December 2013.
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