The Air Filter For Automotive Market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on the Air Filter For Automotive Market highlights the future prediction.
The air filter for automotive market 2020 can achieve a robust CAGR between 2017 and 2022 (appraisal period), asserts Market Research Future (MRFR). We will provide covid-19 impact Analysis with the report.
An impact analysis on COVID-19 by MRFR reveals that there has been a significant drop in vehicle sales in the first few months of 2020, given the shutdowns across countries and the oil price fluctuations. Leading automotive OEMs are adopting several tactics to mitigate the negative impact on their businesses by assessing their dealerships to resume services. The short-term impact of COVID-19 in the automotive sector has led to shutting down of assembly plants in the United States (US), manufacturing interruptions across Europe and ceased export of Chinese components. However, till the time a COVID-19 breakthrough is not achieved, the automotive industry will remain fortified, owing to the ongoing efforts by leading companies to curb revenue losses by adopting recovery tactics such as mergers and acquisitions and more.
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Top Boosters and Main Challenges
Air filters are mandatory in all types of automotive internal combustion engines for maintaining a steady inflow of clean air within the cylinders. Air is cleaned by these products before passing to the cylinders, thus preventing grit, dust, dirt, and other debris from leading to damage. These benefits boost the demand for air filters in the automotive industry.
The mounting demand for air filters in the automotive industry on account of strict government regulations pertaining to vehicle emissions can be one of the prime growth boosters in the global market. It is projected that the worldwide automotive industry can witness massive growth in the coming years, thanks to the increasing spending capacity, and the improved living standards across regions. The growth of the automotive industry can have an obvious effect on the air filter for automotive market over the given period.
Lading competitors in the air filter for automotive industry include Melkev Machinery Impex (India), Sogefi SpA (Italy), Donaldson Company Inc. (U.S.), C & R Fab Media Private Limited (India), NGK Insulators Ltd (Japan), and more.
In support of frontline healthcare professionals during corona outbreak, MANN+HUMMEL has provided close to 5,000 HEPA filters, which makes use of off-the-shelf components such as a seat fan in a pickup truck, and more.
A popular market trend is the accelerated demand for HEPA or high-efficiency particulate air filters, as these help trap pollutants and abate the symptoms of those with allergies. Another prevalent market trend is the rising demand for multi-filtration system, which helps catch bacteria that are highly toxic for the drivers’ health.
The air filter for automotive market has been considered for type, vehicle type, as well as filter media.
The primary types of air filters that have covered in the market analysis include intake air filter, cabin air filter and others. The market for cabin air filter is witnessing excellent growth as a result of the high production level of vehicles and the efforts being given by manufacturers to bring down the cost of the product. The affordability of cabin air filters has been gained the interest of price-sensitive end-users across the globe, leading to the segment’s dominance in the market.
The vehicle types considered in the market study include heavy commercial vehicles (HCV), light commercial vehicle (LCV), passenger car and others. The growth of HCV air filters has been outstanding in recent years, on account of the technical innovations in the air filtration technology, the increasing need to prevent frequent maintenance issues of engines, and rising sales of legacy vehicles.
Filter media-based segments outlined in the report include cellulose, activated carbon, synthetic, and others. Fast-paced industrialization, rigid environmental regulations combined with the standards implemented by government across regions have accelerated the growth of the activated carbon air filters market.
North America, Europe, Asia Pacific and Rest-of-the-World (RoW) are the primary markets for air filter for automotive.
Europe accounts for the highest share in the global market, owing to the consistently growing automobile sector. A rising number of joint ventures and mergers and acquisitions combined with the manufacturers largely focused on upgrading their products helps generate massive revenues in the region.
The APAC market is riding high on the back of the frequent innovations along with the surge in OEM initiatives. The increasing popularity of multi-layer cabin filters also benefits the regional industry. Some of the leading OEMs in China are launching vehicles that have mask level cabin air filtration and it is anticipated that in the future, all vehicles will possess these features. Apart from this, most of the manufacturers 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.
The automotive industry in North America, especially in the US, is a highly profitable market with excellent prospects for automakers. However, with the outbreak of corona virus in the early half of 202, the automotive industry in the country has been drastically impacted with massive revenue loss. Some of the prominent automakers like GM, Toyota and Ford have ceased their production, which means that the US is among the worst hit nations owing to COVID-19.
The African market for air filter for automotive can observe decent growth induced by the rising need for efficient and energy effective products.
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