Market Size of North America Automotive Airfilters Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Automotive Airfilters Market Analysis
The North America Automotive Airfilters Market is projected to grow with a CAGR of more than 5 % during the forecast period.
- With the increasing air pollution and level of harmful pollutants from automobiles in the country, the government is taking stringent steps towards curbing the pollutants levels in the atmosphere.
- Air cleaners helps in reducing the emission of harmful gases and also increases the engine performance. Increasing awareness about environmental concerns and maximum utilization of engine by the end-user are enhancing the demand for the market.
- The increase in awareness about vehicle performance and environmental concerns is forcing the end-user for timely servicing of the vehicles and changing the spare-parts on a regular basis which is resulting in maximum performance of engine and curbing pollution in the environment.
- However, there is a slowdown in automobile sales and production which is because of the trade-tensions between two major economies of the world China and United States, also the ongoing Pandemic COVID-19 is also responsible for the slowdown in economy as it has forced the world economy to lockdown for almost 3 months and now the growth is expected to resume in the second half of 2021, as the governments are providing stimulus to the demand as well as the supply side to revive the economy.
