Air Filter Market for Automotive Industry: Rise in Purchasing Power of Consumers

Albany, NY -- (SBWire) -- 05/18/2018 --According to a new market report published by Transparency Market Research, "Air Filter Market for Automotive (by Filter Type – Engine Air Filters and Air Cabin Filters; by Material Type – Paper, Cotton Gauze, Foam(Polyurethane), Others; by Vehicle Type – Passenger Vehicles, Commercial Vehicles, and Electric Vehicles; by End-use – OEMs and Aftermarket) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026" expanding at a CAGR of 4% during the forecast period and is expected to reach US$ 2 Bn by 2026

Browse The Report: https://www.transparencymarketresearch.com/air-filter-for-automotive-market.html

The global air filter for automotive market is projected to expand at a CAGR of 4% between 2018 and 2026, according to a new research report by Transparency Market Research (TMR). According to the report, the global market is likely to be influenced by a range of political, economic, social, technical, and industry-specific factors. Latin America is expected to witness rapid rise in demand for air filters, with the market in the region anticipated to expand at a CAGR of 4.79% during the forecast period.

The air filter market for automotive in some regions is expanding at a sluggish pace, owing to its limited usage in the electrical vehicles. Stringent carbon emissions norms leading to lowered carbon emission levels are expected to propel the overall air filter market for automotive. Rising carbon footprint globally, has led to the development of electric vehicles, which are predicted to impact the IC engine vehicles market in the next five to seven years. This, in turn, is likely to impact the demand for engine air filters. However, the demand for cabin air filters is anticipated to rise owing to the increase in production of vehicles.

The air filter market for automotive can be segmented based on filter types, material type, sales channel, vehicle type, and region. Based on filter type, the cabin air filter segment is likely to dominate the market by the end of forecast period. It is expected to expand at a CAGR of 4.5% and in terms of revenue, the segment is estimated to reach US$ 1.5 Bn by 2026. In terms of material type, the paper air filter segment hold a prominent share, and its market share is likely to reach about 60% of the market by 2026. Based on vehicle type, the global automotive air filters market can be segmented into passenger vehicles, commercial vehicles, and electrical vehicles. The passenger vehicles segment held 73% share of the global market in 2017. The concentration of harmful substances on roads such as dirt particles, tire debris, soot and pollen, dust, ozone, nitrous gases, sulfur-dioxide or hydrocarbons has increased significantly. Moreover, passenger cars have to adhere to stringent emission norms in order to minimize environmental pollution.

Download PDF Sample for this Research Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=41405

Consequently, various filters such as air filters (engine filters and cabin filters) are being used in passenger cars. The usage of automotive filters is increasing at a steady pace owing to the rise in production of passenger cars. These factors are responsible for the dominance of the passenger vehicle segment among the vehicle types. The electric vehicle segment is likely to expand, owing to government policies in several countries. Demand for air filters in the electric vehicle segment is likely to witness sluggish growth. However, the cabin air filter segment is expected to expand at a considerable growth rate during the forecast period. In terms of end-use industry, the global air filter market for automotive can be classified into OEMs and aftermarket. The aftermarket segment leads the market, and was valued at US$ 6.5 Bn, in terms of revenue, in 2017. The aftermarket segment holds a major share of the market due to the need for regular replacement of air filter.