NEW YORK, April 25, 2022 /PRNewswire/ — The air intake systems market is estimated to increase to a value CAGR of 3.6% over the forecast period of 2022-2032 achieve a valuation of almost US$17.8 billion end of 2032.
Growth in automotive production and sales is the major and fundamental driving force behind the growth of the automotive air intake system market. The trend towards vehicle customization to improve performance is also influencing the upward market growth in the aftermarket segment.
Over the past decade, the automotive industry has seen the most dramatic and disruptive technological breakthroughs. This had a significant impact on all major components, including the air intake systems. To meet changing market demands, comply with strict energy efficiency and carbon emission laws, and remain competitive in the marketplace, significant advancements have been made in the design, techniques, and materials of power systems. air intake.
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Key insights from market research
- By sales channel, the OEM segment is expected to hold a market share of more than 83% by 2032. However, the secondary market segment will be relatively growing at a faster pace at a CAGR of 4.2%.
- Gasoline engines should hold the greatest market share of over 60% in the engine type segment.
- By type of vehicle, Particular Cars should create an absolute dollar opportunity of close to US$3 billion by 2032.
- By region, East Asia should account for the greater 26% share in the global market by 2032.
- the United States and China should record a $ absolute close opportunity US$2 billioncollectively, from 2022 to 2032.
“Economic reforms in Asia Pacific and Europe along with increasing private equity investments in air intake manufacturing companies across the globe are expected to have a positive impact on market growth,” says an analyst at Persistence Market Research.
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To improve vehicle performance and fuel efficiency, manufacturers are working on developing air intake systems by following engine design. Companies increased their footprint by opening additional facilities and introducing sophisticated air intake system designs.
Some of the major Air Intake System manufacturers included in the report are Donaldson Company, Keihin Corporation, Holley Performance Products, Magneti Marelli, Mikuni Corporation, Novares, Rochling Group, K&N Engineering, Inc., Advanced FLOW engineering, Injen Technology , Mishimoto, STILLEN , MANN+HUMMEL and Toyota Boshoku Corporation
During the forecast period, the growing demand for products from the automotive industry, owing to stringent government regulations on vehicle emissions, is expected to drive the expansion of the market.
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Due to increased purchasing power and improved living conditions around the world, the automotive sector is expected to grow rapidly. Growing concerns about environmental pollution caused by smoke generated from car exhaust are likely to drive the demand for automotive air intake systems.
Want to know more?
Persistence Market Research, a research and advisory firm, has published an revised market research report on the Air Intake System Market which contains a global industry analysis from 2017-2021 and an assessment of the opportunities for 2022-2032.
The report provides an in-depth analysis of the market across different segments, namely sales channel, engine type, vehicle type and region.
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