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New Revenue Pockets – Air Filter Market


Asia-Oceania: Largest Market for Automotive Air Filters

Asia-Oceania is estimated to be the largest market for automotive air filters in 2015. The increasing vehicle production and parc are driving the growth of the automotive air filters market in this region. China is currently estimated to be the largest automobile market in the world, and is projected to lead automotive production from 2015 to 2020. The increasing demand for automobiles from developing countries such as China and India is a key factor propelling the growth of the automotive air filters market in Asia-Pacific. Several major OEMs are setting up manufacturing plants in this region to meet the growing vehicle demand. Although established automotive markets in the region, such as Japan and South Korea, exhibited sluggish growth from 2013 to 2014, growing economies such as India and Indonesia enable the region to retain its leading position. The Asia-Oceania automotive air filters market is projected to grow at a CAGR of 7.22% from 2015 to 2020.

North America: Fastest-Growing Market

The automotive industry in North America is well-established and is growing at a faster pace than that of other regions. This region is home to the big three of the automotive industry: General Motors (U.S.), Ford Motor (U.S.), and Fiat Chrysler Automobiles (U.S.). Rising vehicle production and the demand for technologically advanced air filters makes this region an attractive market for automotive air filters.

Vehicle production in North America increased by 5.6% from 2013 to 2014. The U.S. is estimated to be the second-largest vehicle producer in the world. Mexico is a growing market in the region and exhibited a promising growth rate of 10.2% from 2013 to 2014. The free trade agreement between the U.S., Mexico, and Canada has boosted the growth of the automotive industry in North America. The automotive air filters market in the region is projected to grow at a CAGR of 7.43% from 2015 to 2020. According to The Department of Transportation’s Federal Highway Commission, the miles driven per year in the U.S. reached 7.1 billion miles in May, 2015. This is expected to drive the growth of the air filters aftermarket in the region. A number of automotive air filter manufacturers, such as Mann+Hummel GmbH (Germany), Mahle GmbH (Germany), and Sogefi Group (Italy), have invested in North America to cater to the rising demand for automotive air filters.

Aftermarket: High-Potential Market

Air filters have substantial commercial potential in the aftermarket segment, as they need to be replaced at regular intervals. The aftermarket for automotive air filters is projected to grow at a promising CAGR of 7.24% from 2015 to 2020. This growth can be attributed to the rising vehicle parc and increasing average miles driven per year. The increase in the miles driven per year would raise the number of service intervals for air filters. The intake air filter needs to be replaced after every 15,000 to 20,000 miles, whereas the cabin air filter needs to be replaced after every 30,000 to 40,000 miles. This will likely drive the demand for automotive air filters in the aftermarket.

Related Reports:

Air Filters Market by Type (Intake & Cabin), Filter Media (Intake-Cellulose & Synthetic, Cabin-Particle & Activated Carbon), Vehicle Type (Passenger Car, LCV, HCV, & Off- Highway), Market (OE & Aftermarket), & by Region - Global Forecast to 2020

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