Automotive Filters Market Manufacturing Size, Share, Business Insights, Vital Challenges and Forecast Analysis by 2027

The Automotive Filters Market was valued at US$ 3,570.0 million in 2018 and is projected to reach US$ 5,383.8 million by 2027; it is expected to grow at a CAGR of 5.0% from 2019 to 2027. The global automotive filters market is bolstered by emission standards set forth by the regulatory bodies as well as regulations laid by the governments for environmental safety. Although, increasing adoption of EVs may restraint the growth of automotive filters market to certain extent.

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The latest research report on the “Automotive Filters Market – Industry Analysis, Market Size, Opportunities and Forecast, 2021 – 2027” provides a comprehensive assessment of the Automotive Filters market for the forecast period from 2021 to 2027, including market values for the years 2018 and 2019. The investigative report provides a detailed analysis of the impact of COVID-19 on various segments in the Automotive Filters market based on product type, application, and end-use across numerous countries around the world. Further, the report also provides insights into market developments, trends, supply and demand changes across various regions across the globe. Thereby, the report provides a holistic view on the Automotive Filters Market in order to help decision makers with various strategic insights and future outlook. The Automotive Filters market is expected to witness continued growth during the forecast period from 2021 to 2027.

Major Players in the market are:

Market Segmentation:

By Type

By Vehicle Type

The report focuses on global major leading Automotive Filters Market players providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. Upstream raw materials and equipment and downstream demand analysis is also carried out.

Market Insights

Increasing sales of premium and luxury car owing to rising disposable income

Globally, the trend of urbanization is growing at an exponential rate, which is leading to the hike in the average disposal income of urban population, allowing them to enhance their lifestyles. The transformed lifestyles are further boosting the demand for passenger cars, thus propelling the manufacturers to uplift the production to be able to optimally cater to customers. The production of vehicles, including passenger cars, has registered steady growth in developed, as well as developing economies, in the post-recession era, i.e., since 2010. Lowered interest rates on loans has also favored the growth of the automobile industry. The year-on-year growth rate of passenger car production has been close to 2% in the past 7–8 years. As per automobile associations, the global vehicular population crossed 1 billion in 2010, which was driven by the aggressive growth rates in India and China in that fiscal year.

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The new market initiatives and strategic partnerships are expected to continue during the forecast period, contributing towards high growth of automotive filter market in the region. Also, the governments of several economies in the MEA region are focusing on taking initiatives for the development of the automotive sector in their respective countries. Furthermore, in countries such as Morocco, South Africa, and Egypt, vehicle production witnessing a surge, which is anticipated to bolster the growth of the automotive filters market in the region. In the SAM region, Brazil holds a significant market share attributed to a presence of robust automotive manufacturing as well as government support to automotive sector.

 

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