Air Filter For Automotive Market Highlights
The air filter for automotive market 2023 can achieve a 6.20% CAGR between 2022 and 2030 (appraisal period), asserts Market Research Future (MRFR). We will provide covid-19 impact Analysis with the report.
Air Filter For Automotive Market COVID-19 Analysis
An impact analysis on COVID-19 by MRFR reveals that there has been a significant drop in vehicle sales in the first few months of 2020, given the shutdowns across countries and the oil price fluctuations. Leading automotive OEMs are adopting several tactics to mitigate the negative impact on their businesses by assessing their dealerships to resume services. The short-term impact of COVID-19 in the automotive sector has led to shutting down of assembly plants in the United States (US), manufacturing interruptions across Europe and ceased export of Chinese components.
However, till the time a COVID-19 breakthrough is not achieved, the automotive industry will remain fortified, owing to the ongoing efforts by leading companies to curb revenue losses by adopting recovery tactics such as mergers and acquisitions and more. However, the pandemic outbreak has led to higher demand for bacteria and virus protection in passenger cars and various other vehicle segments. In addition, OEMs along with tier 1 manufacturers are working on developing products that help sterilize the air inside vehicles, which can mean better growth prospects for the air filer for automotive market in the following years.
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Air Filter For Automotive Market Top Boosters and Main Challenges
Air filters are mandatory in all types of automotive internal combustion engines for maintaining a steady inflow of clean air within the cylinders. Air is cleaned by these products before passing to the cylinders, thus preventing grit, dust, dirt, and other debris from leading to damage. These benefits boost the demand for air filters in the automotive industry.
The mounting demand for air filters in the automotive industry on account of strict government regulations pertaining to vehicle emissions can be one of the prime growth boosters in the global market. It is projected that the worldwide automotive industry can witness massive growth in the coming years, thanks to the increasing spending capacity, and the improved living standards across regions.
The growth of the automotive industry can have an obvious effect on the air filter for automotive market over the given period. Air filter for automotive can also note further demand because of the soaring concerns with regard to environmental pollution due to smoke from vehicle exhausts.
The existence of a highly-established regulatory structure, especially in developed regions like Europe and North America can induce growth of automotive air filters over the next few years. On the other hand, the persistently thriving automotive industry in the Middle East and Africa and Asia Pacific can most likely promote business growth in the ensuing period.
Air Filter For Automotive Industry Trends
A popular market trend is the accelerated demand for HEPA or high-efficiency particulate air filters, as these help trap pollutants and abate the symptoms of those with allergies. Another prevalent market trend is the rising demand for multi-filtration system, which helps catch bacteria that are highly toxic for the drivers’ health.
Air Filter For Automotive Market Segmentation
The air filter for automotive market has been considered for type, vehicle type, as well as filter media.
The primary types of air filters that have covered in the market analysis include intake air filter, cabin air filter and others. The market for cabin air filter is witnessing excellent growth as a result of the high production level of vehicles and the efforts being given by manufacturers to bring down the cost of the product. The affordability of cabin air filters has been gained the interest of price-sensitive end-users across the globe, leading to the segment’s dominance in the market.
The vehicle types considered in the market study include heavy commercial vehicles (HCV), light commercial vehicle (LCV), passenger car and others. The growth of HCV air filters has been outstanding in recent years, on account of the technical innovations in the air filtration technology, the increasing need to prevent frequent maintenance issues of engines, and rising sales of legacy vehicles.
LCV air filters are also observing consistent growth in the market, with the main reasons considered to be the rising number of initiatives being taken by manufacturers to boost the use of these technologies to curb the toxic effects of air pollution.
Filter media-based segments outlined in the report include cellulose, activated carbon, synthetic, and others. Fast-paced industrialization, rigid environmental regulations combined with the standards implemented by government across regions have accelerated the growth of the activated carbon air filters market.
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Air Filter For Automotive Regional Insight
North America, Europe, Asia Pacific and Rest-of-the-World (RoW) are the primary markets for air filter for automotive.
Europe accounts for the highest share in the global market, owing
to the consistently growing automobile sector. A rising number of joint
ventures and mergers and acquisitions combined with the manufacturers largely
focused on upgrading their products helps generate massive revenues in the
region.
The APAC market is riding high on the back of the frequent innovations along with the surge in OEM initiatives. The increasing popularity of multi-layer cabin filters also benefits the regional industry. Some of the leading OEMs in China are launching vehicles that have mask level cabin air filtration and it is anticipated that in the future, all vehicles will possess these features. Apart from this, most of the manufacturers are integrating their offerings with anti-microbial, anti-bacterial and multi-layer capabilities, which also captures consumers’ interest and helps boost the sale of air filters. Manufacturers like Valeo, MAHLE, MANN-HUMMEL offer advanced air filters for automotive with bacteria, allergen and virus protection.
The automotive industry in North America, especially in the US, is a highly profitable market with excellent prospects for automakers. However, with the outbreak of corona virus in the early half of 202, the automotive industry in the country has been drastically impacted with massive revenue loss. Some of the prominent automakers like GM, Toyota and Ford have ceased their production, which means that the US is among the worst hit nations owing to COVID-19. On the bright side, post outbreak, health awareness with regard to better air filer features can lead to higher market growth potential in the region.
The African market for air filter for automotive can observe decent growth induced by the rising need for efficient and energy effective products. Mounting environmental awareness paired with the increasing urbanization rate across the region can also bolster the market growth in the preceding years.
Air Filter For Automotive Market Leading Competitors
Lading competitors in the air filter for automotive industry include Melkev Machinery Impex (India), Sogefi SpA (Italy), Donaldson Company Inc. (U.S.), C & R Fab Media Private Limited (India), NGK Insulators Ltd (Japan), and more.
Latest Developments
May 2020
In support of frontline healthcare professionals during corona outbreak, MANN+HUMMEL has provided close to 5,000 HEPA filters, which makes use of off-the-shelf components such as a seat fan in a pickup truck, and more.
