According to ESOMAR-certified Future Market Insights’ (FMI) by 2032 it is anticipated that the global automotive air filter market will be worth US$ 6,680 million, up from an estimated value of US$ 5,321.3 million in 2022. In the automotive air filter market during the forecast period, a CAGR of 2.3% is anticipated.
The adoption of regulations governing greenhouse gas emissions, an increase in demand for high-end vehicles with improved passenger comfort, and an increase in automotive sales and production have all contributed to the automotive air filter market growth. The demand for electric vehicles is growing, though, which is limiting the automotive air filter market's expansion. Throughout the projection period, technological advancements and increasing demand for multi-filtration systems are likely to present growth opportunities.
The automotive air filter market, and in particular the cabin filter market, are both growing as a result of the ever-expanding automobile industry, particularly the cars market. The market for cabin air filters is flourishing as consumers become more aware of the need for air filters to maintain clean air and prevent dirt from entering passenger cabins.
There are numerous filters in every car. During the forecast period, this will spur automotive air filter market expansion along with increased car production. This will accelerate automotive air filter market expansion along with increased car production.
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Throughout the projection period, a steady automotive air filter market growth in the North American market is anticipated. The enormous vehicle fleet and high average annual mileage in nations like the United States and Mexico are driving the automotive air filters market in this region. The majority of parking spaces are occupied by passenger cars and light commercial vehicles (LCVs) in North America. Automotive air filter market expansion is likely to be encouraged by strict laws and regulations created by the governments of the United States and Canada to reduce alarming pollution levels.
Key Takeaways:
A maximum CAGR of 2.1% is projected for the automotive air filter market cabin segment.
In North America, the automotive air filter market is anticipated to grow to 15% of the global market.
Europe will control about 24% of the global automotive air filter market by 2022.
During the forecast period, APAC's automotive air filter market is anticipated to grow at one of the fastest rates worldwide.
Sales of electric vehicles are booming in China, and many automakers are still experimenting with this form of transportation.
One of the most important markets for luxury vehicles in the Asia-Pacific region is Japan.
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Competitive Landscape:
MANN+HUMMEL, Donaldson Company, Inc., NGK Insulators, Ltd., Sogefi SpA, Nirvana Being, Mahle International GmbH, C & R Fab Media Private Limited, Melkev Machinery Impex, Global Filters, and Simplex Corporation are some of the major players in automotive air filter market.
Freudenberg & Co. KG, Mann + Hummel GmbH, Sogefi SpA, and Donaldson Company Inc. monopolise the automotive air filter market. Through the launch of new facilities and the release of improved air filter models, the companies have been growing their existence.
Additionally, Toyota Boshoku provides cabin air filters for Toyota, particularly in the Japanese market.