Wilmington, Delaware, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Automotive Air Filters Market By Type (Air Intake Filters, Cabin Air Filters), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), By Propulsion (ICE and Hybrid Vehicles, Electric Vehicles), By Sales Channel (Original Equipment Manufacturer (OEM), Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021-2030." As per the report, the global market for automotive air filter is expected to reach $7.8 billion, having experienced a revenue of $4.7 billion in 2020, with a notable CAGR of 5.4% throughout the forecast timeframe of 2021 to 2030.
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Automotive Air Filter Industry Leading Manufactures:
- Cummins Inc.
- Freudenberg Filtration Technologies SE & Co. KG
- CabinAir Sweden AB
- Alco Filters Ltd
- General Motors Company (AcDelco)
- Sogefi S.P.A
- Ahlstrom-Munksjo Oyj
- Robert Bosch GmbH
- Mahle GmbH
- Hanon Systems
- MANN+HUMMEL International GmbH & Co. KG
- Hengst SE
- Donaldson Company, Inc.
- Denso Corporation
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Factors influencing the growth of the global automotive air filter market
The global automotive air filter market is expanding rapidly due to factors such as rise in production & sale of automotive, surge in demand for luxury vehicles along with greater cabin comfort, implementation of rules about greenhouse gas emissions. On the contrary, the increase in demand for EVs hampers market growth to some extent. Nevertheless, a rise in demand for the multi-filtration system and technological advancements will provide ample growth opportunities in the future.
The cabin air filters to retain its dominant status by 2030
In terms of type, the cabin air filters segment accounted for the largest share of around more than half of the total market revenue in 2020. Also, the same segment would display the fastest growth with 5.9% CAGR from 2021 to 2030. The cabin air filters help in enhancing car’s ventilation by removing particles like mold, bacteria, dust, and pollen from the air.
The passenger cars segment to grab the highest share by 2030
Based on vehicle type, the passenger cars segment held the highest share of more than four-fifths of the global automotive air filter market in 2020. The same segment is expected to manifest the fastest growth with 5.6% CAGR throughout the forecast timeframe. Numerous automobile manufacturers are introducing the latest passenger cars with enhanced cabin air filters to offer improved HVAC (Heating, Ventilation, and Air Conditioning) systems in vehicles.
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Asia-Pacific grabbed the major share in 2020
On the basis of regional analysis, the market across the Asia-Pacific region was largest in 2020, accounting for more than two-fifths of the global automotive air filter market. The growth of the market is driven by surge in sale of passenger cars with latest features to decrease carbon footprints. On the other hand, the Europe region would showcase fastest growth with 6.3% CAGR from 2021 to 2030, owing to surge in sales of EVs and cars across the region.
Similar Reports We Have on Automotive Industry:
Automotive Filter Market Research Report 2023-2032
Aircraft Filters Market Research Report 2023-2032
United States Automotive Air Filters Market Research Report 2023-2032
Japan Automotive Air Filters Market Research Report 2023-2032
South Korea Automotive Air Filters Market Research Report 2023-2032
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