The increasing stringency of vehicle emission and fuel economy regulations is expected to drive the automotive filters market to grow from $ 19.5 billion in 2021 to $ 23.1 billion by 2026.
According to the new market research report - Automotive Filters Market by filter type, air & cabin filter media, fuel & vehicle, and aftermarket - Global Forecast to 2026, published by MarketsandMarkets, the market is anticipated to grow at a CAGR of 3.4% during the forecast period.
The automotive filters market is dominated by global players and comprises several regional players. The key players in this space include Automotive Filters Market are MANN+HUMMEL (Germany), MAHLE (Germany), Donaldson (US), Sogefi (Italy), and Robert Bosch (Germany).
The particle segment is estimated to be the largest segment in the market as the particle cabin filters are very cost-effective compared to activated carbon and electrostatic cabin filters and offer above-average performance. Their low cost is one of the key factors for the growth of these filters, especially in price-sensitive countries such as India and China. In addition, particle filters have a filter barrier made of a fully synthetic non-woven fabric. Synthetic fibres are not hygroscopic and, hence, water does not cause the cabin filters to deform. Such advantages are expected to result in steady growth for the particle filters market soon, the report said.
Passenger Car Filter Segment To Grow Faster
According to the MarketsandMarkets' report, passenger vehicles account for the largest share of environmental pollution caused by vehicles. Therefore, governments in several countries have implemented stringent pollution control norms for passenger vehicles. For instance, strict vehicular emission transition norms in India, such as BS-VI, will ensure better treatment and filtration of exhaust gases. This will require the installation of more efficient filters, subsequently driving the market growth for filters in the passenger car segment.
The North American automotive industry is one of the fastest-growing industries globally and is dominated by domestic OEMs, such as Ford and General Motors, along with established European and Japanese OEMs. The US is home to leading aftermarket suppliers, such as Donaldson, ACDelco, and K&N Engineering, for automotive filters worldwide. Hence, it can be inferred that the US is a matured aftermarket for automotive filters. The lack of adequate public transport and the wide geographical area of the country have compelled people to travel in their own vehicles. The research firm said that the average miles driven in the US is higher than that of other countries.
Mexico does not have stringent emission and fuel economy regulations like the US or Canada. However, there is a plan to harmonise the regulations with that of the US. This would generate demand for advanced filters like air and fuel filters in the aftermarket that will be compatible with the new emission regulations. Canada has signed a free trade agreement with the US and Mexico. This has strengthened the country's automotive industry and increased sales, thereby stimulating the demand for automotive filters in the aftermarket. Thus, the North American automotive filters are expected to witness significant growth in the coming years, the report added.
Courtesy: MarketsandMarkets. NB: Photo is representational; courtesy: MANN+HUMMEL.