Automotive air
filters market is likely to cross over USD 6 billion by the end of
2020.According to the new research report by Hexa Research, The growing demand
of automotive industry, especially in nations like BRIC, with growth in
industrialization and increase in disposable income to remain a key driving
factor in the global market. Rising consumer awareness regarding health disorders
that are caused due to contaminated air the car cabin is also estimated to have
a positive influence on industry. Global automotive air filters segment was
dominated by Cabin filters which contributed for over 50% of total market
revenue in 2013.These product segment are expected to be the fastest growing
product segment at an approximate CAGR over 8.5% from 2015 to 2020.Consumers’s
focus towards the reducing the bad odor and reducing the health disorders
caused by air pollutants inside the vehicles is estimated to increase demand
for cabin filters over the forecast period.
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@ http://www.hexaresearch.com/research-report/global-automotive-air-filters-industry/
Largest application
for automotive air filters market was Passengers cars which contributed for
around 51.3% of market revenue globally in 2013.With growing passenger’s cars
ownerships especially in emerging markets of Brazil, India and China are likely
to drive air filter demand in passenger cars. The demand for Automotive air
filter is estimated to grow for two wheelers with CAGR for around 8.3% from
2015 to 2020.In 2013, Aftermarket dominated automotive filter demand
contributing for total 49.1% of market revenue. Major regional market for
Automotive Air filters were Asia Pacific, estimated to grow at the CAGR of
around 8.4% from 2015 to 2020.
In 2013, Major
Market participants were accounted for around 50% of market revenue. The market
had experienced acquisitions and mergers in last few years. The market is about
to move towards consolidation in upcoming years. Few leading participants
operating in market are Mahle Industries, Mann + Hummel, Cummins and Affnia.
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Market Reports @ https://www.hexaresearch.com/research-category/automotive-and-transportation-industry
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