AC Filters LV Cabin Market Anticipated to Reach great heights by 2025 AC Filters Market Anticipated to Reach great hight | Page 2

across the world are focusing on expanding their product offering through the adoption of strategies
such as collaborations, mergers and acquisitions, etc. Also, to increase aftermarket presence,
prominent manufacturers are focusing on offering new and innovative products to customers.
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By technology, the particle filter segment is projected to dominate the global LV cabin AC filters market
over the forecast period. The particle filter segment in the global LV cabin AC filters market was valued
at US$ 1,340.1 Mn in 2015 and is anticipated to increase 1.6X to be valued in excess of US$ 2,000
Mn by the end of 2024. This segment is projected to gain 90 BPS by 2024 as compared to that in
2016, expanding at a healthy CAGR of 5.4% over the forecast period. Steady growth of this segment
can be attributed to the rising adoption of cabin AC air filters in OEM and aftermarket in the APAC
region, especially in countries such as China and India. The very high efficiency filter segment is
estimated to gain 10 BPS by 2024 as compared to that in 2016, expanding at a healthy CAGR of 5.1%
over the forecast period. The combined and anti-allergen filter segments are projected to lose 40 BPS
and 70 BPS respectively by 2024 as compared to that in 2016, expanding at a CAGR of 4.8% and
3.6% respectively over the forecast period. The particle filter segment and the very high efficiency filter
segment are collectively estimated to hold a little over 75% of the revenue share of the global LV cabin
AC filters market by 2024. This growth is largely due to the efficiency of filters to trap particles of very
small size i.e. less than 0.1μm and a comparatively less pricing than the combined and anti-allergen
filters.
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