Market Highlights
Theairfilter for automotive market 2020 can achieve a robust CAGR between 2017and 2022 (appraisal period), asserts Market Research Future (MRFR). We willprovide covid-19 impact Analysis with the report.
COVID-19 Analysis
An impact analysis on COVID-19 byMRFR reveals that there has been a significant drop in vehicle sales in thefirst few months of 2020, given the shutdowns across countries and the oilprice fluctuations. Leading automotive OEMs are adopting several tactics tomitigate the negative impact on their businesses by assessing their dealershipsto resume services. The short-term impact of COVID-19 in the automotive sectorhas led to shutting down of assembly plants in the United States (US),manufacturing interruptions across Europe and ceased export of Chinesecomponents. However, till the time a COVID-19 breakthrough is not achieved, theautomotive industry will remain fortified, owing to the ongoing efforts byleading companies to curb revenue losses by adopting recovery tactics such asmergers and acquisitions and more. However, the pandemic outbreak has led tohigher demand for bacteria and virus protection in passenger cars and variousother vehicle segments. In addition, OEMs along with tier 1 manufacturers areworking on developing products that help sterilize the air inside vehicles,which can mean better growth prospects for the air filer for automotive marketin the following years.
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Top Boosters and MainChallenges
Air filters are mandatory in alltypes of automotive internal combustion engines for maintaining a steady inflowof clean air within the cylinders. Air is cleaned by these products beforepassing to the cylinders, thus preventing grit, dust, dirt, and other debrisfrom leading to damage. These benefits boost the demand for air filters in theautomotive industry.
The mounting demand for airfilters in the automotive industry on account of strict government regulationspertaining to vehicle emissions can be one of the prime growth boosters in the globalmarket. It is projected that the worldwide automotive industry can witnessmassive growth in the coming years, thanks to the increasing spending capacity,and the improved living standards across regions. The growth of the automotiveindustry can have an obvious effect on the air filter for automotive marketover the given period. Air filter for automotive can also note further demandbecause of the soaring concerns with regard to environmental pollution due tosmoke from vehicle exhausts.
The existence of ahighly-established regulatory structure, especially in developed regions likeEurope and North America can induce growth of automotive air filters over thenext few years. On the other hand, the persistently thriving automotiveindustry in the Middle East and Africa and Asia Pacific can most likely promotebusiness growth in the ensuing period.
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Industry Trends
A popular market trend is theaccelerated demand for HEPA or high-efficiency particulate air filters, asthese help trap pollutants and abate the symptoms of those with allergies.Another prevalent market trend is the rising demand for multi-filtrationsystem, which helps catch bacteria that are highly toxic for the drivers’health.
Market Segmentation
The air filter for automotivemarket has been considered for type, vehicle type, as well as filter media.
The primary types of air filtersthat have covered in the market analysis include intake air filter, cabin airfilter and others. The market for cabin air filter is witnessing excellentgrowth as a result of the high production level of vehicles and the effortsbeing given by manufacturers to bring down the cost of the product. Theaffordability of cabin air filters has been gained the interest ofprice-sensitive end-users across the globe, leading to the segment’s dominancein the market.
The vehicle types considered inthe market study include heavy commercial vehicles (HCV), light commercialvehicle (LCV), passenger car and others. The growth of HCV air filters has beenoutstanding in recent years, on account of the technical innovations in the airfiltration technology, the increasing need to prevent frequent maintenanceissues of engines, and rising sales of legacy vehicles. LCV air filters arealso observing consistent growth in the market, with the main reasonsconsidered to be the rising number of initiatives being taken by manufacturersto boost the use of these technologies to curb the toxic effects of airpollution.
Filter media-based segmentsoutlined in the report include cellulose, activated carbon, synthetic, andothers. Fast-paced industrialization, rigid environmental regulations combinedwith the standards implemented by government across regions have acceleratedthe growth of the activated carbon air filters market.
Regional Insight
North America, Europe, AsiaPacific and Rest-of-the-World (RoW) are the primary markets for air filter forautomotive.
Europe accounts for the highestshare in the global market, owing to the consistently growing automobilesector. A rising number of joint ventures and mergers and acquisitions combinedwith the manufacturers largely focused on upgrading their products helpsgenerate massive revenues in the region.
The APAC market is riding high onthe back of the frequent innovations along with the surge in OEM initiatives.The increasing popularity of multi-layer cabin filters also benefits theregional industry. Some of the leading OEMs in China are launching vehiclesthat have mask level cabin air filtration and it is anticipated that in thefuture, all vehicles will possess these features. Apart from this, most of themanufacturers are integrating their offerings with anti-microbial,anti-bacterial and multi-layer capabilities, which also captures consumers’interest and helps boost the sale of air filters. Manufacturers like Valeo,MAHLE, MANN-HUMMEL offer advanced air filters for automotive with bacteria,allergen and virus protection.
The automotive industry in NorthAmerica, especially in the US, is a highly profitable market with excellentprospects for automakers. However, with the outbreak of corona virus in theearly half of 202, the automotive industry in the country has been drasticallyimpacted with massive revenue loss. Some of the prominent automakers like GM,Toyota and Ford have ceased their production, which means that the US is amongthe worst hit nations owing to COVID-19. On the bright side, post outbreak,health awareness with regard to better air filer features can lead to highermarket growth potential in the region.
The African market for air filterfor automotive can observe decent growth induced by the rising need forefficient and energy effective products. Mounting environmental awarenesspaired with the increasing urbanization rate across the region can also bolsterthe market growth in the preceding years.
Leading Competitors
Lading competitors in the airfilter for automotive industry include Melkev Machinery Impex (India),SogefiSpA (Italy), Donaldson Company Inc. (U.S.), C & R Fab Media PrivateLimited (India), NGK Insulators Ltd (Japan), and more.
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