Automotive Engine Air Filter Market: Introduction
According to the report, the global automotive engine air filter market is projected to reach ~US$ 700 Mn by 2030, expanding at a CAGR of ~2% during the forecast period. Increase in per capita income and spending power of consumers is prompting them to own vehicles, which is a key factor fueling the automotive engine air filter market globally. The adoption of automotive components that boost vehicle fuel-efficiency by automakers is anticipated to propel the demand for engine air filter and subsequently, drive the global automotive engine air filter market.
Expansion of Automotive Engine Air Filter Market
Several government organizations and regulatory bodies, worldwide, are establishing new vehicle standards and enacting stringent regulations pertaining to vehicle emission. For instance, in India, BSVI regulations is expected to be implemented from April 2020 onwards. Countries in Europe are adhering to Euro 6 vehicle standards, which mandate automakers to reduce vehicle emissions.
Engine air filter provides dust-free clean air to the engine combustion chamber, enriching the air-fuel mixture, which ensures complete burning of fuel, thereby reducing vehicle emissions. This, in turn, is driving the global automotive engine air filter market. Rich air fuel enhances the vehicle performance and improves quality of driving. The expansion of the e-Commerce industry is boosting the demand for shipping and transportation. This, in turn, is increasing the miles driven by vehicles. The vehicle engine air filter requires frequent replacement, as a vehicle covers more kilometers. This, in turn, offers lucrative opportunity to both OEM and aftermarket players operating in the global engine air filter market.
Regional Analysis of Automotive Engine Air Filter Market
In terms of region, the global automotive engine air filter market has been segregated into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. In terms of region, Asia Pacific is likely to emerge as a highly lucrative market for automotive engine air filter, driven by the demand for passenger vehicles in countries including China, India, Indonesia, New Zealand, and Malaysia in the region. Moreover, China, in Asia Pacific, has well-established aftermarket that caters to the automotive industry. The well-established supply chain also serves the automotive industry. Moreover, collaborations among automotive engine air filter market players and automakers in Asia Pacific are further boosting the automotive engine air filter market in the region.
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Rising trends toward electric vehicles globally is likely to hamper the automotive engine air filter market. Rise in revised taxes due to Brexit is likely to hinder production and sales of automobiles in Europe, which in turn is estimated to restrain the overall automotive industry in the region.
Key Companies in Automotive Engine Air Filter Market
Prominent players operating in the global automotive engine air filter market include A. L. Filter, ALCO Filter, Baldwin Filtering Medium, Cummins, DENSO CORPORATION, Donaldson Company, Inc., Fildex Filter Canada Corp., Filtrak BrandT GmbH, K&N Engineering, MAHLE International, Mann+Hummels, Nevsky Filter, North American Filter Corp., Robert Bosch GmbH, Siam Filtering Medium, Sogefi SpA, and UFI Filter SpA.
The development of automotive components undertaken by several key players are likely to propel the automotive engine air filter market during the forecast period. For instance, major players, including Sogefi SpA and Filtrak BrandT GmbH, in the automotive engine air filter market are focused on developing cost-effective and reusable engine air filters that cater to consumer demands.
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