Car Air Filter Market Projected to Witness a Single-Digit CAGR During 2017 to 2022
This FactMR report on the global car air filter market forecasts that the global car air filter market will touch a value of nearly US$ 9,916 Mn in the year 2022.
[USPRwire, Sat Apr 13 2019] In order to dissert the market scenario prevailing across the car air filter market sector, Fact.MR has evenly presented a new examination titled “Car Air Filter Market Projected to Witness a Single-Digit CAGR During 2017 to 2022 | Key Players are Champion Laboratories Inc., Denso Corporation, Donaldson Company Inc., etc.”, to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the car air filter market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.
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A car air filter is used to remove particles like dust, bacteria and pollen from the intake air that goes into the internal combustion engine. If the car air filter is not clean, it may result in damage to the engine. A clean air filter is necessary for the smooth operation and optimal performance of an automobile. Besides cleaning the air which enters the engine while combustion is taking place, the air filter also removes debris from the air that may otherwise cause abrasion and damage the engine. Hence it is necessary to use a proper air filter in an automobile. If the air filter of any automobile is worn off or outdated, it may cause reduced fuel average, problems in the spark plug of the engine, reduced horsepower of the automobile and black sooty smoke or flames coming out from the exhaust pipe. Hence, it is necessary that the air filter of the automobile is kept in a prime condition in order to make the engine work optimally and reduce the emissions of the automobile. The increasing sales of automobiles, particularly cars, is the main driver for the growth of the car air filter market. Also, as the car air filter needs to be changed at regular intervals, there is a huge aftermarket demand for car air filters. However, since the future of the automobile is centered on the electric vehicles, in which there is no combustion of fuel, growth of car air filters market is being affected negatively.
A car air filter is used to clean the air going into the internal combustion engine and remove debris like dust, bacteria and pollen from the intake air and make it fit for combustion. A car air filter is made of fibrous materials and these fibers may also contain charcoal or other absorbents to remove odors and other gaseous pollutants from the air that is entering the engine.
Europe Market Set to Dominate the Global Car Air Filter Market in Terms of Revenue
The car air filter market in Europe is set to dominate the global car air filter market in terms of value and this trend is projected to sustain itself throughout the assessment period. Europe car air filter market is the most attractive market, growing at a sluggish CAGR over the assessment period.
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As per the forecast of Fact.MR, the cabin air filter segment is expected to reach a value of nearly US$ 4,550 Mn in the year 2022. This represents a sluggish CAGR during the forecast period of 2017-2022. Cabin air filter segment is expected to account for nearly half of the revenue share of the product type segment by the year 2017 and is expected to lose market share by the end of the year 2022.
OEM Car Air Filter Segment to exhibit a CAGR of 3.1% During the Assessment Period
As per the forecast of Fact.MR, the OEM car air filter segment is slated to touch a figure of nearly US$ 1,910 Mn in the year 2022. This represents a CAGR of 3.1% during the assessment period from 2017 till the year 2022. This segment is expected to gain market share by the end of the year 2022. The OEM car air filter segment is expected to account for nearly one-fifth of the revenue share of the sales channel segment by the year 2017.
The report also profiles companies that are expected to remain active in the expansion of global car air filter market through 2022, which include Freudenberg & Co. KG, Hollingsworth & Vose Company, Champion Laboratories, Inc., Denso Corporation, Donaldson Company, Inc., General Motors, MAHLE GmbH, UFI Filters Spa and Alco Filters Ltd.
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