Commercial Vehicle Air Filter Market Forecast to Reach $2.7 Billion by 2026
Commercial Vehicle Air Filter Market Is Estimated to Witness Substantial Growth Due to Growing Demand for Small Trucks, Pick-up Vans, and Other Light Commercial Vehicles
Hyderabad, India – July 24, 2021 /MarketersMedia/ —
The Commercial Vehicle Air Filter Market is forecast to reach $2.7 billion by 2026, growing at a CAGR of 4.8% from 2021 to 2026. The commercial vehicle air filter market is estimated to witness substantial growth over the forecast period. The use of Commercial vehicle for logistics industry, construction industry and others have increased in the regions such as Europe and APAC which is driving the commercial vehicle market and in turn Air Filter market is expected to have growth into the market. The rising demand for mall trucks, pick-up vans, and other light commercial vehicles is expected to boost the demand for cabin air filters and air intake filters market as this market depends on vehicle demand.
Commercial Vehicle Air Filter Market Segment Analysis – By Applications
The market is segmented by Applications into Cabin air filter and Engine air filter. Engine air filters are developed to make automobile engine work efficiently by taking account of environmental conditions. APAC is the largest market holder of commercial vehicle air filter, engine air filters tends to be used more by the vehicle when compared to cabin air filter. As engine air filter worn out fast than a cabin air filter it result into boosting engine air filter in the market. Cabin air filters purifies air which passes into the cabin and make a clean atmosphere for the driver to stay in cabin for long time. Thus this leads to boost the market in forecasted period at 5.3% CAGR through 2026.
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Commercial Vehicle Air Filter Market Segment Analysis – By Vehicle Fuel Type
BEV Filter is growing at a highest CAGR of 12.5% in the forecast period 2021-2026. Initially, the shorter driving range was one of the major disadvantages of BEVs. However, with advancements in technology, the driving range of BEVs increased significantly. For instance, including all variations of the Nissan LEAF and Tesla Models, the average battery range is 253 miles. BEV sales are also increasing, which is attributed to government incentives to OEMs for increasing electric vehicles in their fleets.
Commercial Vehicle Air Filter Market Segment Analysis – By Geography
APAC is expected to dominate the market with a largest share in forecasted period at 36% in 2020 and the region is estimated to witness the highest growth during the forecast period, 2020-2025. The United States is expected to have highest market share of North America vehicle Air Filter and is estimated to have substantial growth in forecasted period. Engine air filters resulted for substantial market share of North America vehicle Air Filter market. However cabin air filter also plays an important role into the market.
Commercial Vehicle Air Filter Market Drivers
Increase in vehicle production
Commercial vehicle such as pick up van, small trucks and other light commercial vehicle are rapidly increasing due to easy commute, for instance rise in logistic industries and e-commerce businesses resulting to increase in production of commercial vehicle which in turn expected to boost the growth of air filter market. However vehicle manufactures are increasing heavy trucks and containers for construction industries and other which are also driving the commercial vehicle air filter market. Thus increase in vehicle production will lead to increase in consumption of Air filters and is expected to have substantial growth into the market.
Advancement in technology
Advancement in air filters are expected to maintain driver health and engine safety. Air Filters are advanced in filtration which provides better air flow resulting in engine efficiency and increasing fuel efficacy. Air filters are made up of synthetic glass fibre, cellulose, and activated carbon which ensures better air flow into the cabin and engine. Advancements in air filter technology will leads to a huge opportunity for commercial vehicle air filter to propel into the market.
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Commercial Vehicle Air Filter Market Challenges
Increasing installation rate of non-replaceable filters
Although Automotive Filters are analyzed to grow at a rapid rate, increased installation of non-replaceable filters hinder the market growth. These non-replaceable filters are washable and can be used for a longer period. In the future, the filter aftermarket would be impacted by the non-replaceable filters since various filters, such as air and cabin filters, need not be changed in the entire lifespan of the vehicle. Hence increased installation of non-replaceable filters will hinder the market growth in the forecast period 2021-2026.
Commercial Vehicle Air Filter Market Landscape
Commercial vehicle air filter market is dominated by major companies such Mann + Hummel GmbH, K&N Engineering Inc., Toyota Boshoku Corporation, Parker Hannifin Corp., Cummins Inc., Freudenberg & Co. KG, Donaldson Company Inc., Sogefi Spa, Robert Bosch GmbH, Valeo S.A.
In April 2020, MANN+HUMMEL launched Frecious Plus, a latest innovation in cabin air filtration. The filter blocks bad smells and dust and ensure to remove almost 100 per cent of harmful dust particles and other gases.
In March 2020, Donaldson introduced its Filter Minder wireless monitoring system for air filters on heavy-duty engines. Filter Minder wireless monitoring system sensors sends filter performance data to the cloud, and provide signals about it life.
The commercial vehicle air filter market is estimated to witness substantial growth over the forecast period primarily due to the growing demand for small trucks, pick-up vans, and other light commercial vehicles.
Air filters are now made by cellulose, and activated carbon which provide good quality air flow for better performance.
Intake (engine) Air filter is expected to have highest market growth in North America and is expected to have substantial growth into the market.
Rising in production of commercial vehicles is expected to boost up the market for both cabin air filter as well as engine air filter. However engine air filters are expected to propel more when compared to cabin air filters.
APAC to have largest market share into the commercial vehicle Air filter market. North America is estimated to witness growth during the forecast period, 2021-2026.
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