ALBANY, N.Y., March 8, 2021 /PRNewswire/ — A number of factors influence developments in the automotive industry across the globe, which comprises developments, regulatory changes, emerging technology, and changing market demand. Initiatives to minimize the level of greenhouse gas emissions and environmental issues have driven automotive innovation over the last few years. In addition to that, there have been major advancements in automotive engine systems whereby filtration systems have become a crucial component. Research and development activities have accelerated in the recent years because developed countries around the globe, including the UK and the US, are concentrating more on improving energy efficiency throughout the automotive industry– an emerging trend that is predicted to remain throughout the projected timeline. Riding on the back of these market drivers, the global automotive engine air filter market is likely to observe growth over assessment timeline, from 2020 to 2030.
The global automotive engine air filter market is anticipated to reach around US$ 700 Mn by 2030, expanding at a growth rate of 2% CAGR over the forecast timeframe, from 2020 to 2030. Consumers’ increased purchasing power and per capita income are encouraging them to purchase cars, which is a major factor driving the global automotive engine air filter market. The market is also prophesized to be influenced by automakers’ uptake of automobile parts that improve vehicle…
