Automotive Air Filters Market Research Report
Growing demand from the automotive industry, particularly in BRICK nations, on account of increasing disposable income and growing industrialization rate is expected to remain a key driving factor for the market. Rising consumer awareness regarding health disorders caused due to contaminated air in the car cabin is also expected to have a positive influence on rake growth.
Environmental hazards related to combustion engine vehicles have led to the growth of electric vehicles, which contributes negligible emissions but also requires less maintenance of the engine. Growth of electric vehicle industry is expected to challenge automotive air filter demand over the forecast period. Cabin filters dominated the global automotive air filters product segment and accounted for 51. 3% of total market revenue in 2013. Cabin filters are also expected to be the fastest growing product segment, at an estimated CARR of 8. % from 2014 to 2020. Consumer shift towards reducing bad odor and minimizing health disorders caused due to air pollutants inside the vehicles is expected to fuel demand for cabin air filters over the forecast period. To request a sample copy or view summary of this report, click the link: http://www. Schwarzenegger. Com/industry-analysis/ automotive-air-filters-market Further key findings from the study suggest:
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Consumer shift towards replacing air filters in order to minimize maintenance cost is expected to drive the automotive air liters demand in aftermarket. ; Asia Pacific emerged as the leading regional market and accounted for 49. 3% of total market revenue in 2013. Asia Pacific is also expected to be the fastest growing regional market for automotive air filters at an estimated CARR of 8. 5% from 2014 to 2020. Growth of automotive industry in emerging markets of China, India and Indonesia is expected to drive the regional market.
North American market is expected to witness steady growth on account of recovery of automotive industry in the U. S. And favorable regulatory scenario in the region. ; Top market participants accounted for less than 50% of the total market revenue in 2013. The market has witnessed mergers and acquisitions over the last few years. This trend is expected to continue and the market is expected to move towards consolidation over the next several years.