Automotive Automotive Filter Market | Page 2

The global automotive filter market is segmented into type such as air filter, fuel
filter and oil filter. Among these segments, air filter segment dominated the
overall automotive filter market in 2016 and is likely to continue its dominance
during the forecast period. Increasing concerns regarding air pollution and need
to prevent the dirt and contaminants from entering in the vehicle’s engine are
increasing the sales of automotive filters globally. Air filter is a very essential
component in air conditioner installed vehicles. Moreover, the demand for
automotive radiators is envisioned to rise during the forecast period due to
increasing installation of air conditioner in old vehicles.
Global automotive filter market is expected to expand at 8.8% CAGR during the
forecast period. Moreover, the global automotive filter market was valued at USD
5.6 Billion in 2016 and is expected to reach at revenue around USD 10.1 Billion by
the end of 2024. The automotive filter market is poised to display substantial
growth during the forecast period due to advantages of automotive filter in
vehicles such as improved engine performance and increased vehicle’s fuel
efficiency.
On the basis of regional platform, Asia Pacific automotive filter market is
envisioned to expand at a CAGR of 9.1% by the end of 2024. Moreover, Asia
Pacific accounted for more than 43% share of overall automotive filter market in
2016. Further, increasing production of vehicles in Asian countries such as India
and China is expected to fuel the demand for automotive filters in this region.
Increasing Sales of Passenger Cars
Demand for automotive filters is mainly fuelled by increasing number of vehicles
across the globe. Further, rising concerns amongst the consumers regarding
preventive maintenance is escalating the replacement rate of automotive filters.
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Strict Government Regulations
Governments of developed countries have implemented strict laws to curb the
pollution caused by vehicles. For instance, in U.S., the environment protection
agency has implemented the mandatory average fuel economy of 42mpg for cars
and 26mpg for trucks. Further, government initiatives and regulation regarding
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