Factors including improved standard of living, rise in discretionary income, and growing industrialization and commerce have led to rise in automobile production. This, in turn is driving demand for automotive air filters. In addition, compliance with the environmental regulations is expected to encourage consumers to regularly install efficient filtration and ventilation systems in automotives. The availability of private financing schemes has also had positive impact on the passenger vehicle demand and automotive air filter installations. These factors are expected to contribute towards a compounded annual growth rate (CAGR) of 7.5% during the forecast period 2016 – 2023.
1.1 Market Scope and Segmentation
This report analyzes the global automotive air filter market in terms of type, application, and geographical distribution. On the basis of product type, the global automotive air filter market is segmented into automotive intake air filters and automotive cabin air filters. Similarly, on the basis of application (vehicle type), the automotive air filter market is further classified into passenger cars, light commercial vehicles (LCV) & heavy commercial vehicles (HCV), and two-wheelers. Based on sales channel, the market has been further categorized into aftermarket channel and OEM channel. The geographical distribution of the global automotive air filter market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
1.2 Report Description
Purpose of the Report
The purpose of this strategic research study titled “Global Automotive Air Filter Market - Growth, Share, Opportunities, and Competitive Analysis, 2016 – 2023” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global automotive air filter market.
Target Audience
USP and Key Offerings
The report titled “Global Automotive Air Filter Market- Growth, Share, Opportunities, and Competitive Analysis, 2016 – 2023” offers strategic insights into the global automotive air filter market along with the market size and estimates for the duration 2014 to 2023. The said research study covers in-depth analysis of multiple market segments based on product type, application, sales channel and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading air filter manufacturers, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global automotive air filter arket, offering market size and estimates for the period from 2014 to 2023, keeping in mind the above mentioned factors.
In 2015, the passenger car segment dominated global automotive air filter market. The segment accounted for over half of the global automotive air filter market revenue in the same year. The trend shall prolong and the segment is presumed to retain its dominating position throughout the forecast period 2016 -2023. Factors including improved standard of living, rising disposable income is expected to propel passenger vehicle demand, thereby supporting new air filter installations during the forecast period. In addition, availability of private financing for vehicle ownership has also had positive impact on the passenger vehicle demand, and hence automotive air filters. On the other hand, both two wheeler and commercial vehicle segments are presumed to exhibit robust growth during the forecast period 2016 – 2023.
As of 2015, the sale of automotive air filters was the largest through aftermarket than original equipment manufacturers (OEM). The aftermarket segment accounted for over two-third of the global automotive air filter sales in the same year. The trend is expected to prolong over the forecast period and the segment would retain its leading revenue share through 2023. Although original equipment manufacturers play a crucial role in the sale of automotive air filters, it is anticipated that the sale of automotive accessory products such as air filters would probably improve through aftermarket channel. Air filters are required to be replaced on regular intervals to ensure efficient air filtration in vehicles. This replacement demand will drive sales for air filters through aftermarket channel.
As of 2015, Asia Pacific was the largest automotive air filter market worldwide. The region accounted for around half of the global market revenue in the same year. The trend shall continue and the region is presumed to remain the largest automotive air filter market over the forecast period 2016 – 2023. The government initiatives to reinstate growth in the automotive industry and rising per capita income of people in the region have led to a steady rise in the automotive production. This, in turn is driving the automotive air filter market in the region. China, India, and Japan are the automotive manufacturing hubs and thus represent major business destinations for air filter manufacturers. On the other hand, demand for automotive air filters in Europe will be driven by the prevailing environmental regulations and presence of huge off-highway vehicles market.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Automotive Air Filter market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
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Application
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Sales Channel
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
