Emphasis on Reducing Greenhouse Gas Emission in Automobiles to Propel Global Market
Advancements within the automotive sector circle around a host of factors, including evolving consumer demand, new technologies, legislative changes, and innovations. Over the past couple of decades, mounting environmental concerns and efforts to minimize greenhouse emissions have accelerated innovations in the automotive sector. Automotive engine systems wherein filtration systems are a critical component have witnessed significant developments over the past few years. As developed nations around the world, including the U.S. and the U.K. focus on enhancing energy efficiency across the automotive sector, research and development activities have gathered notable pace over the past few years– a trend that is expected to continue during the forecast period.
The U.K. Government revealed plans of reducing carbon dioxide emissions by nearly 26% by 2020 and greenhouse gas emissions from the shipping and aviation sector by nearly 80% by 2050. The U.S. has also revealed its plans of reducing oil consumption by nearly 35% by 2030. The goal toward oil reduction targets and growing demand for energy efficient solutions in the automotive sector is expected to provide an impetus for innovations, particularly in the automotive engine air filter market. At the back of these factors, the global automotive engine air filter market is expected to attain a market value of ~US$ 700 Mn by the end of 2030.
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Efforts to Minimize Fuel Consumption in Automobiles to Trigger Demand
Automotive companies are increasingly investing resources to enhance the performance of their engine and develop solutions in line with the ongoing efforts to safeguard the environment. As the performance of the automotive engine air filters affects the durability of the engine, players operating in the current automotive engine air filter market are expected to focus on improving the quality of their products to ensure maximum fuel efficiency in small- to large-sized vehicles. While manufacturers are likely to focus on launching high-quality products, product development programs are anticipated to be formulated from the maintenance point of view due to which, designs of automotive engine air filters are expected to remain a critical area of interest for market players.
Some of the major applications and objectives of the automotive engine air filter include optimal flow management, packaging, emission management, filtration, engine durability, and maintaining vibration & noise levels, among others. Manufacturers operating in the current market landscape are increasingly focusing on minimizing the level of clogging to improve the service life of their products– a factor that is projected to boost the prospects of the global automotive engine air filter market during the assessment period.
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Market Participants Focus on Launching New Filtration Technologies to Gain Advantage
Companies operating in the current automotive engine air filter market are expected to focus on the development of new filtration technologies to break through the cutthroat market competition. Innovations and new technologies are focused on enhancing particulate capturing capabilities to improve engine performance. Players operating in the current market landscape are primarily focusing on research activities to produce new technologies that revolve around improving dirt-holding capacity, particle-removal efficiency, and minimize the airflow restriction. While enhancing engine performance is expected to remain the primary objective, the type of material used across filtration systems is projected to gain attention in research. Improving filtration efficiency will remain the primary focus due to which, Nano-fiber has emerged as an ideal filtration media. The advent of tier 4 engines has also accelerated the development of new filtration media– a factor that is expected to propel the automotive engine air filter market.
Companies Likely to Address Supply Chain Issues
The advent of the COVID-19 pandemic is expected to majorly impact operations across the automotive sector largely due to bottlenecks in the supply chain. As governments across the world continue to combat the novel COVID-19 pandemic by enforcing lockdowns and restricting trade activities, the demand for automotive vehicles is expected to decline, particularly in 2020 and 2021 due to which, the automotive engine air filter market is estimated to witness sluggish growth. Market players are expected to focus on contingency plans and seek new growth avenues to minimize the impact of the pandemic on their business.
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