Persistent Market Research, a New York based market research agency has published a report stating that the outlook for the global automotive cabin filter market is very good, with the sector expected to grow at a good CAGR of 6.9% in the period from 2016-2024. By the end of 2024, the revenues are expected to reach USD 3.73 billion, a significant increase from USD 2.19 billion in 2016. When it comes to volume, this is expected to grow by a CAGR of 4.9% in the period till 2024.
The market is expected to sustain this growth primarily on the basis of the stable growth of the automotive industry on a global basis and increase in awareness about the efficacy of automotive cabin filters in removing dust and pollutants from automotive cabins. Almost 95% of new car models have cabin AC filters as one of their crucial components. Another factor that will drive the increase in the sector is the continual research and development to develop products that are more efficient. Tightening norms regarding emissions control are another factor that will drive growth in this sector. People having asthma and allergies feel a lot better when cabin filters are used to remove dust and pollen from the cabin. This is also expected to contribute to demand.
For automotive cabin AC filters to work at their best, it is recommended that they are replaced at regular intervals. This will help maintain high levels of sales when it comes to recurrent sales of AC filters in the global market.
The latest trends that are seen in the sector are the integration and customization of automotive AC filters. This is expected to continue during the forecast period and drive demand for a wide range of cabin AC filters in the near future.
When analyzed on the basis of filter type, the particulate filter segment is projected to experience the highest level of growth and account for almost 70% of the total market share. Articulate filters segment are expected grow at a CAGR of 4.2%, while electrostatic filters segment are expected to grow at a CAGR of 8.6%, in terms of value.
While the passenger car segment is projected to be the largest segment with a CAGR of 7.1%, the HCV segment will also grow at a significant pace.
From the perspective of distribution channels, the aftermarket is expected to dominate due to greater awareness about the need for regular replacement. OEM segment too, is expected to grow at a significant pace of 5.6% till the end of 2024.
The key markets for automotive cabin filters would continue to be Europe, North America, and Asia Pacific with North America and Europe together accounting for over 60% of the total market revenue share, while the APAC market will continue to contribute around 35% to the global revenues. During the forecast period, Asia Pacific is expected to witness a robust CAGR of 10.5%.
The major players in the global automotive cabin AC filter market include Mann+Hummel GmbH, Sogefi SpA, Donaldson Company, Inc., Robert Bosch GmbH, Denso Corporation, Ahlstrom Corporation, and Mahle GmbH. Other leading companies are Freudenberg & Co. KG, Hengst SE & Co. KG, ALCO Filters Ltd., K&N Engineering, Inc., EuroGIELLE S.r.l, ACDelco, and Airmatic Filterbau GmbH.
Hamid Moaref has always been fascinated by cars and the automotive industry. His family has a longstanding association with the industry and has been in the tire business for the past 35 years. Raised in Dubai, Hamid attended Capilano University in Vancouver where he graduated with a BBA in marketing before attending an intensive course in magazine publishing in 2005. He has been the publisher and chief editor of Tires & Parts magazine for the past ten years.
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