Automotive Filter Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
The Business Research Company’s Automotive Filter Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
— The Business Research Company
LANDON, GREATER LANDON, UK, November 17, 2023 /EINPresswire.com/ — The global automotive filter market is on a trajectory of significant growth, with the market size expected to surge from $22.57 billion in 2022 to $24.43 billion in 2023, reflecting a robust compound annual growth rate (CAGR) of 8.2%. While the Russia-Ukraine war has created short-term disruptions to the global economy post-COVID-19, the automotive filter market is poised for remarkable expansion, with projections indicating a market size of $31.69 billion by 2027, growing at a CAGR of 6.7%.
Environmental Concerns and Emission Norms Driving Market Growth
One of the key drivers of the automotive filter market’s growth is the rising global concern for the environment and the implementation of stringent emission norms. Automotive filters play a pivotal role in enhancing fuel efficiency and reducing emissions of greenhouse gases. According to a report by ‘Our World in Data,’ passenger travel (including cars, motorcycles, and buses) is expected to account for 60% of road transport emissions in 2020, with the remaining 40% originating from road freight (lorries and trucks). In response to escalating greenhouse gas emissions, governments worldwide are implementing strict emission regulations. For instance, the United States Environmental Protection Agency (EPA) introduced new national greenhouse gas (GHG) emissions requirements for passenger vehicles and light trucks for model years 2023–2026, aiming to achieve substantial reductions in GHG emissions and other pollutant levels. This growing environmental consciousness and stricter emission norms are anticipated to bolster the automotive filter market in the coming years.
Explore the global automotive filter market with a detailed sample report:
Key Players in the Automotive Filter Market
Prominent players in the automotive filter market include MANN+HUMMEL, Robert Bosch, Toyota Boshoku, Cummins, Parker Hannifin Corp., Ahlstrom Corporation, Denso, Mahle GmbH, Hengst SE, Valeo SA, Sogefi Group, K&N Engineering Inc., Donaldson, Dana Incorporated, Grayson Thermal Systems, Gentherm Inc., Hanon Systems, Lennox International Inc., and Modine Manufacturing Company Inc. These industry leaders continually strive to innovate and offer high-performance filters to meet the evolving demands of the automotive sector.
Emerging Trends in Cabin Filters
A notable trend in the automotive filter market is the increasing use of cabin filters to enhance the efficiency and quality of filters. Cabin air filters are designed to prevent dust, dirt, pollen, bacteria, exhaust gases, and other contaminants from entering the HVAC system of vehicles. They also serve to block insects, leaves, and other debris from clogging the system. An example of this trend can be seen in Honda Cars India Ltd., which introduced an innovative anti-virus cabin air filter for all its upcoming vehicles. This advanced filter is engineered to capture a wide range of harmful germs and allergens, addressing the growing concerns about air quality within vehicles.
Key Market Segments
The global automotive filter market is segmented into various categories, including:
1. Filter Type: Fuel Filter, Oil Filter, Air Filter, Cabin Filter, Coolant Filter, Transmission Oil Filter, Other Filter Types
2. Media Type: Cellulose, Fiberglass, Other Media Types
3. Vehicle Type: Commercial Vehicles, Passenger Vehicles, Other Vehicle Types
4. Material Type: Particle, Activated Carbon, Electrostatic
5. Distribution Channel: OEM, Aftermarket
6. Regional Insights: North America Leading the Way
In 2022, North America emerged as the largest region in the automotive filter market. Furthermore, North America is expected to be the fastest-growing region in the forecast period. The comprehensive market analysis report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, providing valuable insights into the regional dynamics, market trends, and growth opportunities.
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Automotive Filter Global Market Report 2023 from TBRC covers the following information:
1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Automotive Filter Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on automotive filter market size, automotive filter market drivers and trends, automotive filter market major players, competitors’ revenues, positioning, and growth across geographies. The automotive filter market helps you gain in-depth insights on automotive filter market opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Article originally published on www.einpresswire.com as Global Automotive Filter Market Set to Expand, Projected to Reach $31.69 Billion by 2027