Automotive Filters Market Trends: Towards Consolidation
Carbon emissions have risen exponentially as emerging economies industrialize and people seek personal mobility. This has attracted the attention of global giants who have invested heavily in the local automotive industry, leading to a windfall for auto ancillary makers. National governments are realising the cascading effects of climate change and passing stringent safety and emission norms, dictating design direction in the automotive filters market. The transportation sector already accounts for a large percentage of worldwide carbon emissions. If current growth rate persists, the transportation section should contribute the highest volume of CO2 emissions by 2050.
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Clean Air Act Has Reduced Vehicular Emissions in the U.S by Double-Digits
As per data from the Energy Information Administration, the transportation sector is the second largest energy consumer in the U.S. To minimize air pollution, regulatory authorities have relied on norms such as the Clean Air Act. The Act has been keeping a close tab on harmful vehicular emissions. Data since 2017 suggests that it has played a vital role in reducing the carbon footprint and particulate matter by double-digits.
Constantly Evolving Regulations Necessitate Innovation in the Automotive Filters Market
Automakers must focus their efforts on high-tech charcoal cabin filters that block dust, pollen, and other pollutants such as fumes and odours. Various emissions norms such as Euro 6, Clean Air Act, and BS 6, coupled with test methods such as RDE and WLTP are monumental in driving the automotive filters market. These norms regulate the limit of permissible air pollutants from stationary and mobile vehicles. The norms are frequently revised to tackle pollution, compelling automakers to constantly innovate in the automotive filters market.
COVID-19 Turned Just-in-Time Model Upside Down in Automotive Filter Market
COVID-19 has not spared the automotive industry and caused in unprecedented disruptions to the global supply chain. Component suppliers are facing outright bans or lengthy delays in international logistics, impacting automotive production. Stakeholders are faced with rising overheads and shrinking profit margins, posing challenges to growth rates in the automotive filters market.
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China Vital for Long-Term Success in the Automotive Filters Market
The economic boom witnessed in the APAC region has led to China becoming the largest automotive market with India also expected to be a top three market within the next decade. Cheap overheads and favourable government policy make for a winning combo in attracting foreign automakers to establish local production facilities. Therefore, companies involved in the automotive filters market are advised to target populous nations such as China, India, and Indonesia for long-term prosperity.
Companies Seek Multiple Options to Widen Customer Base in Automotive Filters Market
The automotive filters market is steadily moving towards consolidation with a few major players. Vertical integration is critical, and manufacturers are eyeing joint ventures, mergers and acquisitions, and product launches to broaden their portfolio in the automotive filters market. A few companies profiled in this report on the automotive filters market are North American Filter Corporation, SogefiSpA, Fildex Filters Canada Corporation, Robert Bosch GmbH, Donaldson Company, Inc., Mahle GmbH, K&N Engineering, Inc., Mann+HummelGmbH, FiltrakBrandT GmbH, Luman Automotive Systems Pvt. Ltd., Alco Filters Ltd., Siam Filter Products Ltd., Part and A.L. Filter.
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