SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global automotive cabin AC filter market was valued at US$ 2,338.9 million in 2017, and is projected to exhibit a CAGR of 8.1 % over the forecast period (2019 – 2027).
Key trends and analysis of the global automotive cabin AC filter market:
The global automotive cabin AC filter market is expected to grow significantly during the forecast period, owing to increasing demand for vehicles around the world. Moreover, increasing pollution level along with the increased health awareness among people is also expected to contribute the market to grow. Furthermore, digitalization is yet another factor for the global cabin AC filter market to grow as nowadays, passengers can check the air quality inside the car on the smartphone at any time, and this creates transparency, which naturally leads to call for better protection by using cabin AC filter.
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Use of cabin AC filters also help the owner to reduce the cost of ownership of vehicles by decreasing the wear of the vehicle's heating, ventilation and air conditioning systems, as regular change of filter decreases the maintenance cost of heating ventilation and air conditioning (HVAC) system of car. Moreover, growing investment in research and development of new cabin AC filters for electric and hybrid car is expected to contribute towards growth of the global automotive cabin AC filter market. Favorable market conditions and growing disposable income among the people to buy vehicles has increased growth of the market.
The major restraining factor for global automotive cabin AC filter market is that the most of the car owners are not aware about the function of filter in the HVAC system. Thus, most consumers are not aware of the replacement cycle of the filter. This can hamper the market growth to a certain extent.
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Key Market Takeaways:
- The global automotive cabin AC filter market is projected to witness CAGR of 8.1 % during the forecast period, owing to increasing demand for vehicles and growing concern among the customers regarding their health issues
- Asia Pacific held the dominant position in the global Automotive Cabin AC Filter market in 2017, and is expected to retain its dominance throughout the forecast period. This is owing to huge customer base in this region and large automobile market and manufacturers present in this region.
- North America is expected to show substantial growth throughout the forecast period, owing to the several rules, regulations, and standards put forward for cleaner air intake.
- Among vehicle type, the passenger car segment held dominant position in the market in 2017, and is expected to retain its dominance during the forecast period. The sale of passenger cars is around 75% of the total vehicle production globally in the year 2018. Moreover heavy commercial vehicle segment is expected to be the fastest growing segment during the forecasted period.
- Among filter type segment, electrostatic filter segment is expected to be the fastest growing segment during the forecasted period. This is owing to advantages of electrostatic filters when compared to particulate and charcoal filter.
- Major players operating in the global automotive cabin AC filter market include Cummins Filtration Inc, Denso Corporation, Donaldson Company Inc, Freudenberg Filtration Technologies SE & Co. KG, K&N Engineering Inc, Lydall Inc, Mahle GmbH, Mann+Hummel, PARKER HANNIFIN CORP, Robert Bosch GmbH, Roki Co. Ltd, SogefiS.p.A., Toyota Boshoku Corporation Valeo S.A. and others
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
