Global car air filter market is witnessing steady demand from all across the globe. This is due to the reason that car air filters are an integral part of the automobiles as they protect the internal combustion engine from dust particles and grime coming from the air that mixes with the fuel in the engine.
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If the air filter of a car is not clean, it may result in damage to the engine of the car. Besides this, the car will not function in an optimal manner and will exhibit reduced mileage and black sooty smoke or flames coming out from the exhaust if the air filter is worn out or not replaced at a proper time. The increasing sales of automobiles, especially cars, is the main driver of the global car air filter market.
However, as the future of the automobile industry is centered on the electric cars, in which no fuel is burnt in the engine, the market for car air filter may get restricted during the assessment period. This is especially true of the European market, where electric cars are becoming popular due to the strict air pollution emission norms prevalent in the region.
The global car air filter market is slated to touch a value of nearly US$ 9,916 Mn in the year 2024 and grow at a sluggish CAGR during the assessment period.
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4 Forecast Highlights on Global Car Air Filter Market
- As per the forecast of Fact.MR, the intake air filter segment is slated to touch a value of nearly US$ 5,366 Mn in the year 2024. This represents a sluggish CAGR growth during the assessment period of 2017-2022. The intake air filter segment is estimated to account for more than half of the revenue share of the product type segment by the year 2017 end and is expected to gain in market share by the year 2024 end.
- As per the forecast of Fact.MR, the OES car air filter segment will reach a value of nearly US$ 2,564 Mn in the year 2017. This represents a sluggish CAGR growth during the forecast period. The OES car air filter segment is estimated to account for more than one-fourth of the revenue share of the sales channel segment in the year 2017 end and is expected to lose market share by the end of the year 2024.
- As per the forecast of Fact.MR, the compact passenger cars segment is slated to reach a value of nearly US$ 2,479 Mn in 2024. The compact passenger cars segment is expected to gain some market value by the end of the year 2024. The largest share is contributed by the Europe region in the compact passenger cars segment.
- Fact.MR forecasts that the cellulose car air filter segment will exhibit a CAGR of 3% from 2017 to 2024. Cellulose car air filter segment is estimated to account for nearly one-third of the revenue share of the filter media segment by 2017 end and is expected to gain some market share by the end of the year 2024.
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The report has also profiled leading players in the global market for car air filter, which will remain active through 2024. These include companies such as General Motors, UFI Filters Spa, Freudenberg & Co. KG, Alco Filters Ltd., Hollingsworth & Vose Company, Denso Corporation, MAHLE GmbH, Donaldson Company, Inc. and Champion Laboratories, Inc.
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