According to the Graphical Research new growth forecast report titled “Global Automotive Air Filters Market Size By Application, By Product, By End-Use, Regional Outlook, Growth Trends, Competitive Landscape & Forecast to 2024”, estimated to exceed USD 8 billion by 2024. Expansion in the automotive industry, increasing disposable income of consumers, rising environmental concerns due to automobile pollution emission and surging demand for cars and two-wheelers (particularly in BRICS countries) are some of the major factors driving the industry growth. —
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There is a rapid growth in the automotive industry, which has also given rise to a tremendous increase in pollution. The global passenger vehicle market is likely to reach 90 million units by the end of 2024 (in terms of sale) which will also impose a threat to the environment and overall health. Taking this into consideration, the government is emphasizing on the use of these air filters to ensure reducing hazardous effects from these vehicle pollutants. Moreover, these filters also help to increase the efficiency and ensure prolonged engine life. The automotive industry has turned into a billion-dollar industry and has a long way to go rising parallelly with the expanding automotive industry.
However, surging demand for electric vehicles may challenge the industry growth over the coming years. Global automotive air filters market revenue is anticipated to surpass USD 8 billion by 2024.
Intake air filters are forecast to record a CAGR of around 7% over the period of 2018-2024, owing to the consumer demand for prolonged engine life. Automotive air filters application in two-wheeler market is estimated to register a CAGR of around 8.5% over 2018-2024
Aftermarket end use segment, which accounted for approximately 70% of the overall market share in 2017, is expected to be dominant over the coming eight years.
The U.S. market is forecast to grow at a CAGR of around 8% over the forecast period, driven by factors such as high disposable income, rising health concerns, and strict government norms across this region.
Key industry players include Cummins Inc., Lydall, Inc., K&N Engineering Inc., Parker Hannifin Corp., Toyota Boshoku Corporation, Ahlstrom Corporation, and Roki Co. Ltd.
Browse key industry insights along with TOC @ https://www.graphicalresearch.com/table-of-content/1055/global-automotive-air-filters-market
Mexico Automotive Aftermarket : https://www.reuters.com/brandfeatures/venture-capital/article?id=150483
France Precision Gearbox Market : https://www.reuters.com/brandfeatures/venture-capital/article?id=151619
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