Automotive Cabin AC Filters market to witness steady growth at 4.9% CAGR by 2024
Surge in production of vehicles and eliminating dust and pollutant particles has led to increasing demand for AC filters in automotive cabin. Moreover, increasing need for HVAC system will further contribute towards growth of the global market of automotive cabin AC filters significantly. A recently compiled report by Research Report Insights reveals that the global market of automotive cabin AC filters will register 4.9% CAGR growth over the projected period, Through 2024.
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Factors Propelling Growth of the Global Market
Growing need to filter out dust particles, and pollutants has led to an upsurge in demand for AC filters in the automotive cabin globally. The cabin AC filter maintains filters out dust particles and pollutants, which will impact growth of the global marketof automotive cabin AC filters. Moreover, these cabins filter out bad odor from entering into the automobile cabin environment through ventilation system, and heat. Such factors are likely to contribute towards growth of the global marketof automotive cabin AC filters.
On the other hand, limited awareness aboutAC filters in the automotive cabin among consumerswill inhibit growth of the global market of automotive cabin AC filters during the predicted period. Customization and integration of the cabin automotive AC filters will represent a major trend in the global marketof automotive cabin AC filters. Such factors are likely to restrain growth of the global market of automotive cabin AC filters throughout 2024.
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Aftermarket to Remain a Dominant Segment
Particulate among other segments accounted for 68.6%market share, and held the largest market share by the end of 2016. By the end of 2024, this segment will grow at 4.2% CAGR in the global market of automotive cabin AC filters. Electrostatic segment among others willregister the highest growth of 8.6% CAGR through 2024. Passenger cars among other application represented a major market share by 2016 – end. This segment will register a 7.1% CAGR growth in the global market of automotive cabin AC filters throughout 2024.
HCV among other segments will reflect a relatively fast growth rate in the global market of automotive cabin AC filters by the end of 2024. OEM among other segments will register 5.6% CAGR growth in revenue terms during the predicted period. Aftermarket among other services offered likely to remain dominant in revenue terms in the global market ofautomotive cabin AC filters during the forecast period.
APAC to Register a Relatively High Growth
APAC among other regions will represent 33.6% market share in revenue terms in the global market of automotive cabin AC filters by 2024-end. The market for automotive cabin AC filters in this region will register a CAGR growth of 10.5% during the predicted period. The market in Europe and North America collectively accounted for a market share of over 60% in revenue terms by 2016-end.
Market Players
Major market players operating in the global market of automotive cabin AC filters include Sogefi SpA, Mann+Hummel GmbH,Robert Bosch GmbH, Donaldson Company, Inc.,Ahlstrom Corporation,Denso Corporation,Freudenberg & Co. KG,MAHLE GmbH, ALCO Filters Ltd.,Hengst SE & Co. KG,EuroGIELLE S.r.l,K&N Engineering, Inc., Airmatic Filterbau GmbH, and ACDelco
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