(MENAFN- America News Hour)
The automotive air purifier market is valued at USD 1.3 billion in 2022, and it is expected to reach USD 2.7 billion by 2031. The automotive air purifier market is anticipated to register a CAGR of about 10% during the forecast period
The COVID-19 crisis has compelled about 95% of all automotive-related companies to put their workforces on hold during the lockdowns. Globally, the repercussions of the COVID-19 crisis are immense and unprecedented. The impact is clearly evident on the auto industry as many companies faced disturbances with their production activities and supply chain. As they navigate this crisis, the OEM's are positive about the post-pandemic period as they expect the economies to revive and help the market growth.
Rapid urbanization has increased the number of vehicles and traffic congestion, which has led to increased air pollution, rise in living standards of the people, which allows them to spend more on cleanliness and sanitization techniques around them, and increased awareness about the health issues amongst end users are the major factors driving the market growth.
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As the global cities face a decrease in air quality, the demand for automotive air purifiers is subsequently rising. With the use of cutting-edge technologies, these automotive air purifiers improve the quality of air inside vehicles by removing allergens and odors, they do not allow bad smells to linger nor do they have side effects on health. Increasing health awareness among people is helping the market growth.
Key Market Trends
Rise in Air Pollution Level Drives the Market
Industrialization and urbanization are causing the major pollutants levels in the atmosphere to rise. The rise in the number of automobiles on the road is also a major reason for this growth in pollution levels. Because of this, the air quality index is degrading, causing health ailments in many countries. According to the center for science and environment in India, air pollution is responsible for 12.5% of all deaths in India, and air pollution kills an average of 8.5 out of every 10,000 children in India before they turn five.
Governments across the world are taking measures to reduce pollution levels. To improve the quality of air, auto manufacturers fit vehicles with more and better air purifiers. So, during the forecast period, the sales of automobile air purifiers will grow at a substantial rate.
However, the high cost and non-standardization of the air purification system are limiting the market growth. On the other hand, increase sales of vehicles in emerging countries is the key opportunity for the automotive air purifier market.
Asia-Pacific is Expected to be the Biggest Market
With about 60% of the world population, the Asia-Pacific region is expected to be the largest market for automotive air purifier systems owing to the factors such as the automobiles sales in the region are expected to be the highest in this region during the forecast period. It is expected that automobile sales will grow at a considerable rate. One other major factor is that the region is home to some of the most polluted cities in the world. With such bad air quality, people and auto-makers are expected to spend more on this product and drive the market's growth. Moreover, laws and regulations enforced by the governments regarding passenger ergonomics and health supplement the automotive in-vehicle air purifier industry growth in Asia-Pacific.
With a steady rise in income levels of people in the region because of the fast-growing economies globally, they are expected to spend more on luxury and health-related equipment that includes premium and luxurious vehicles. These vehicles almost always contain better air purifying equipment, which in turn is another factor expected to help the market.
The Automotive air purifier market is fragmented, with several players trying for a considerable share in the market. Some prominent companies in the automotive wheels market include Panasonic, 3M, Honeywell, and Denso. Companies are investing heavily in research and development for the innovation of new and advanced products and technologies. In 2020, Philips launched the GoPure range of car air purifiers with powerful 3-stage filtration technology capable of removing up to 125 harmful pollutants and exhaust gases through its HEPA and HESA layers.
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Freudenberg Filtration Technologies, a part of Freudenberg Group, announced the launch of its vehicle cabin air filters in India, which it claims to be 100% effective against surfaces strained with viruses, including SARS-CoV-2.
Eureka Forbes launched Aeroguard car air purifiers equipped with an active shield. The patented advanced multi-layered purification process eliminates sub-micron respirable particles, dust, fumes, VOCs, pollen, and activated carbon filter.
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 End Market
5.2 Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
5.3.1 North America
126.96.36.199 United States
188.8.131.52 Rest of North America
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.3.4 Rest of the World
126.96.36.199 United Arab Emirates
188.8.131.52 Other Countries
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.10 Xiamen airbus electronic technology
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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