Published August 7, 2023
The global air intake system market is expected to grow at a significant rate during the forecast period from 2022 to 2032. The air intake system is a vital component in automobiles that helps in the smooth functioning of the engine by providing clean and cool air to the engine. The growing demand for vehicles, especially passenger cars, and the need for fuel-efficient vehicles are driving the growth of the air intake system market.
Market Size and Growth:
Global air intake system market revenue totaled US$ 12.2 Billion in 2021. Demand for air intake systems is set to accelerate with the top 5 providers holding 47% market share. As such, the worldwide air intake system industry is predicted to reach a market valuation of US$ 17.76 Billion by 2032, expanding at a CAGR of 3.6% over the same period of time. The market growth can be attributed to the increasing demand for vehicles, stringent emission regulations, and the need for fuel-efficient vehicles.
The global air intake system market can be segmented based on component, vehicle type, and sales channel.
- By component, the market can be segmented into air filter, intake manifold, air intake hose, and others.
- By vehicle type, the market can be segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles.
- By sales channel, the market can be segmented into OEMs and aftermarket.
Market Drivers and Challenges:
The growth of the global air intake system market is driven by various factors such as the increasing demand for vehicles, the need for fuel-efficient vehicles, and stringent emission regulations. The rising disposable income and the growing urbanization are also expected to drive the growth of the market. Moreover, the increasing demand for electric vehicles is expected to create opportunities for market players.
However, the high cost of advanced air intake systems and the availability of low-cost alternatives in the market can hinder the growth of the market. Moreover, the COVID-19 pandemic has impacted the automotive industry, which is expected to affect the growth of the air intake system market in the short term.
If You want to Purchase Specific Insights By Segment/Region/Competitor, Request For [email protected] www.persistencemarketresearch.com/request-customization/33049
The global air intake system market is highly competitive, with several players operating in the market. Some of the key players in the market include Mann+Hummel Group, MAHLE GmbH, Donaldson Company Inc., K&N Engineering Inc., Sogefi SpA, Rochling Group, and Magneti Marelli S.p.A.
The global air intake system market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is expected to dominate the market during the forecast period due to the growing demand for vehicles in the region, especially in countries such as China and India. The increasing urbanization, rising disposable income, and the growing awareness about the environment are also expected to drive the growth of the market in the region.
One of the major trends in the global air intake system market is the increasing use of lightweight materials such as plastics and composites. These materials offer several advantages such as improved fuel efficiency, reduced emissions, and better performance.
Another trend in the market is the increasing adoption of advanced technologies such as electronic air intake systems. These systems offer better control over the air intake process, which can improve the performance and efficiency of the engine.
The global air intake system market is expected to continue growing in the coming years due to the increasing demand for vehicles and the need for fuel-efficient vehicles. The market is expected to be driven by technological advancements, product innovation, and growing demand for lightweight materials. The increasing focus on environmental regulations and the need to reduce emissions are also expected to drive the growth of the market in the coming years. Overall, the global air intake system market is expected to offer significant growth opportunities for manufacturers in the coming years.
Read More Trending “PMR Exclusive Article”:
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
Address – 305 Broadway, 7th Floor, New York City,
NY 10007, United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – [email protected]