Superyacht industry has gained significant traction during the recent past, owing to increasing number of tourism in across key European countries, which includes Italy, UK, and Spain. Tourism plays vital role in superyacht industry, as tourism is a key contributor to the social development, economic growth, and employment of many emerging economies across the globe. Furthermore, the countries in European region such as Italy, France, Spain, and Greece attract more tourists across the globe, as these countries allow tourists to purchase duty-free luxury goods.

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Global superyacht market is expected to witness significant growth during the forecast period (2018–2026). This growth is majorly attributed to the increase in number of adventure tourism and recreational activities in the emerging countries of Europe and Asia Pacific.

Increasing number of tourists in Europe and Asia Pacific region is turning to be the major driving factor for growth of the superyacht market

Growing tourism sector is one of the key driving factors for growth of the superyacht market in developed countries of Europe such as UK and Italy. For instance, according to World Travel and Tourism Council, the U.K. Travel & Tourism sector’s contribution to GDP was estimated around 6.2% in 2017, which is US$ 272.9 billion (GBP 214 billion) contribution to the overall GDP of UK.

Additionally, the rising spending in water-sports and recreational activities by international tourist and visitors, and high net-worth individuals in the UK has accelerated growth of the UK travel & tourism industry. According to World Travel and Tourism Council, in 2017, the international tourist and visitors’ spending increased by 7.9% from the spending of 2016. Hence, this growing tourism industry has accelerated demand for superyachts, which is expected to aid in growth of the superyacht market.

Increasing number of superyacht launches is expected to drive growth of the global superyacht market.

Significant rise in the number of new superyacht launches by prominent boat manufacturers in countries of Europe such as France, is another key factor for growth of the superyacht market. For instance, in July 2018, Abeking & Rasmussen, a yacht building company, launched KIBO, an 82m/268ft luxury yacht, in France charter market.

According to the U.S. Commercial Services, in 2018, around 1.8 million people owned a boat license in Germany, which allows them to operate sailing motor boats or yachts. The country has around 6,250 miles of waterways, which is expected to be one of the major factors driving growth of the superyacht market during the forecast period.

The luxury superyacht market is characterized by the presence of well-diversified and established boat builders in the North America and Europe. Boat builders engaged in custom and semi-custom boat segments are planning to expand its regional footprint and product portfolio, especially regarding its product quality, services, technology, and price. This competitive environment among prominent superyacht manufactures such as Beretta yachts and Royal Huisman is expected to intensify during the forecast period. Boat manufacturers are majorly focusing towards developing new technologies and upgrading its product portfolio in order to maintain its dominance in this highly competitive marketplace.

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Some of the key players operating in the global superyacht market include Amels, Blohm+Voss, Christensen Shipyards, Feadship, Fincanteri, Heesen Yachts, Lurssen, Nobiskrug, Oceanco, Perini Navi, Sunseeker Yachts, Holland Jachtbouw, Royal Huisman, Moonen Shipyards, Mulder Shipyards, and Benetti Yachts.

Semiconductor equipment are the electronic components that utilize the electronic properties of semiconductor materials, such as silicon, germanium, organic semiconductors and gallium arsenide, which are used to manufacture semiconductor devices or integrated circuits. Semiconductor equipment helps in achieving a desired output from semiconductors. It is a huge sized equipment that comprises multiple step processes that produce a semiconductor constituents. Semiconductor equipment are used in order to ensure assembling of the semiconductor parts, wafer fab, and testing of the entire device.

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Moreover, growing demand for electronics and gadget services have contributed majorly to growth of the semiconductor equipment market. According to the Coherent Market Insights’ analysis, the global semiconductor equipment industry witnessed growth with a market size of US$ 57.1 billion in 2017, and by 2019, the market is expected to grow by 14.8%, accounting for US$ 70.9 billion. This significant growth is expected to propel demand for semiconductor materials in Artificial Intelligence (AI) programs, such as autonomous vehicles, automotive, consumer electronics, IoT, and AI-driven electronics. Extensive use of the semiconductors in electronic devices such as smartphones, flat-screen monitors & LED TVs, civil aerospace, and military systems is expected to drive growth of the semiconductor industry.

Global semiconductor equipment market is expected to witness significant growth during the forecast period of 2018–2026. The market growth is majorly attributed to increasing adoption of semiconductor equipment for different applications such as consumer electronics, automotive, and communications sector. According to the Coherent Market Insights, by 2026, the semiconductor equipment industry is set to experience a massive benefits from ongoing development and innovation in connectivity, communications, advanced software, the automotive industry, and data centers. For instance, in October 2018, Samsung Electronics launched new automotive semiconductors, which will bring its market-proven technologies and diversify its business portfolio into the automotive sector.

Asia Pacific semiconductor equipment market accounted for largest share in 2018

Asia Pacific is expected to be the largest and fastest growing region in the semiconductor equipment market during the forecast period of 2018-2016, owing to increasing adoption of semiconductor equipment for innovative technologies such as connected vehicles, industrial automation, and other process automation. According to Coherent Marker Insights’ analysis, in 2018, the countries such as China, Taiwan, Korea, India, Japan, and India hold more than 90% market share in the semiconductor equipment market.

Asia Pacific region also has presence of key industry participants such as Tokyo Electron Limited, IHI Corporation, and Hitachi Kokusai Electric Inc., which will help Asia Pacific region retain its dominance over the forecast period. Furthermore, companies are increasingly investing on the construction of new foundries. For instance, in 2017, companies such as Intel, Micron, Toshiba, and Global Foundries have increased their fab or foundries investments. Furthermore, in June 2018, South Korea witnessed a surge in semiconductor foundries investments from Samsung, as it increased investment from US$ 8 Bn to US$18 Bn in 2017-2018. This is expected to ensure steady growth for Asia Pacific region, thereby augmenting the overall growth of the semiconductor equipment market.

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Key companies

Some of the key players operating in the global semiconductor equipment market include Applied Materials, ASML, Canon, Tokyo Electron, Lam Research, KLA-Tencor, Dainippon Screen, Advantest, Teradyne, and Hitachi High-Technologies.

A smart office is an advanced workplace where technology aids employees to work faster, better, and smarter. Smart offices are enabled with modern technological equipment’s such as beacons, sensors, and mobile apps, which help employees to perform the tasks in efficient and faster manner. This allows employees to dedicate their time for strategizing and business planning. Smart office majorly focuses on understanding and gaining insights of the problems and challenges faced by employees and designing a solution, which will aid in providing better environment at workplace. Rapid adoption of Internet of Things (IoT) with implementation of IoT sensors and IoT devices, along with cloud computing services and analytics is the major factor boosting growth of the market. According to Coherent Market Insights’ analysis, Asia Pacific is expected to be the fastest growing region in the global smart office market during the forecast period, owing to promotion of clean environment in the buildings and power management and conservation.

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Global smart office market is expected to witness significant growth during the forecast period (2018–2026). The market growth is majorly attributed to increasing adoption of smart offices for different applications in energy management and saving. For instance IoT enabled lights reduce energy usage by switching off the lights when not in use. Furthermore, as per Coherent Market Insights analysis, growth of the smart offices market is propelled by the major advancement in IoT technology. For instance, according to CMI analysis, the number of IoT connected devices was 25 billion in 2017and is expected to witness high growth during the forecast period.

North America is expected to be the largest and fastest growing region in the smart office market during the forecast period, owing to increasing sales of smart devices such as smart lightings, IoT (Internet of Things) solutions, smart communication devices, and smart software in the region. As per Coherent Market Insights, the global sales of smart lighting was around US$ 49 Billion in 2016, which increased to US$ 57 Billion in 2017, which in turn is expected to aid in growth of the market.

Moreover, rapidly growing construction industry is expected to boost the number of building infrastructure in an innovative and cost effective way, in turn creating opportunities for the smart office solution providers. According to analysis by Coherent Market Insights, Asia Pacific commercial construction market was around US$ 1,341 billion in 2017, and is expected to reach US$ 2,489 billion by 2021. This is expected to create a lucrative market opportunity for smart office in India in the near future. However, there are still some restraints in smart office construction that limits growth of the market. Security is a major threat to smart offices, employee training in IT security is necessary in order to reduce the chance of attacks, which intend to gain access to the systems.

According to Cisco Canada, the Toronto office of Cisco enables modern work styles by connecting employees, processes, data, and things on a single data network, which have earned the title of ‘smartest office building in the world.’

For instance, among total energy consumption in office buildings HVAC system (cooling, heating, and ventilation) contribute to around 51% of total energy usage and lighting represents around 25% of total usage, as these two parameters contributes three quarters of an office building energy use.

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Some of the key players operating in the global smart office market include ABB Ltd., Cisco Systems, Inc., Crestron Electronics, Inc., Honeywell International Inc., Johnson Controls International PLC, Lutron Electronics Co. Inc., Philips Lighting Holding B.V., Miracle Group Inc., Siemens AG, Schneider Electric SA, Sensorsuite Inc., United Technologies Corporation, and others.

Online fashion retailing is a process in which customers can search, select, and purchase fashion products, services, and information over the internet. Fashion products include, cloths, cosmetics, jewelry, footwear, and bags and accessories.

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Factors Driving Growth of the Global Online Fashion Retail Market

Increasing use of mobile applications is a major factor propelling growth of the online fashion retail market. Mobile apps offer important features such as smart filters, latest trend news, virtual trial room, offers and deals, which help consumers to search products of their choice. Moreover, smartphones are an ideal platform for retailers to directly sell products to consumers. Therefore, increasing sells of smartphones is expected to drive the market growth. According to Coherent Market Insights’ analysis, around 134 million smartphones were sold across India in 2017. Social media also plays an important role in growth of the online fashion retail market. According to Coherent Market Insights’ analysis, in 2018 over 200 million Instagram users worldwide follow at least one fashion account and in the U.K., 45% of Instagram users follow fashion accounts.

Furthermore, growing e-commerce industry is expected to drive growth of the online fashion retail market. According to Coherent Market Insights’ analysis, the total number of online transactions in India was 200 million in 2017 and is expected to increase by 65% by 2020. According to the same source, 60 million of the 200 million transactions in 2017 belonged to online fashion shoppers and it is projected to reach 120 million by 2020.

Moreover, increasing focus of online fashion retailers towards offering consultation and customer services is also expected to boost the market growth. For example, Amazon offers information about how to correctly measure body circumference and how to correctly interpret size charts. Increasing adoption of computer-aided graphic technologies and chatting platforms is also expected to boost the online fashion retail market growth. Technologies such as three dimensional effects (3D), Augmented Reality (AR) and Virtual Reality(VR) help in better presentation of products on various online platforms.

Online Fashion Retail Market: Regional Insight

On the basis of region, online fashion retail market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific is expected to witness significant growth in the online fashion retail market during the forecast period. India is expected to witness significant growth in the market, owing to growing e-commerce market and increasing use of smartphones. According to India Brand Equity Foundation (IBEF), e-commerce market in India is expected to reach US$ 200 billion by 2026, from US$ 38.5 billion in 2017.

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Key players in the global online fashion retail market

Key players operating in the global online fashion retail market include, Amazon, Flipkart, Paytm mall, Snapdeal, Jabong, Yepme, Myntra, 20Dresses.com, 99labels, Alibaba.com, American Swan, Naaptol, Fabindia, FashionandYou, Fetise, HomeShop18, KOOVS, Limeroad, StalkBuyLove.com, Shopclues.com, ShoppersStop, Shopping.indiatimes, Shopping.rediff, Styletag, Stylista, and Yebhi.

Supply chain risks management (SCRM) is an effort taken by organizations to identify, monitor, detect, and mitigate threats to supply chain continuity and profitability. Threats to supply chain include, volatility, material shortages, supplier financial issues and failures, and natural and manmade disasters. Implementation of supply chain risk management software helps an organization to identify, manage, and mitigate global or domestic risks to help and protect their supply chain operations. For instance, Chevron Corporation is a U.S.-based multinational oil and energy corporation, which has set up SMART – a GEP procurement software of GEP Worldwide Company.

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The global supply chain risk management market is expected to witness significant growth during the forecast period (2018–2026). The market growth is majorly attributed to increasing adoption of supply chain risk management software in various industries such as manufacturing, transport and logistics, and pharmaceuticals.

Asia Pacific is expected to be the fastest growing market for supply chain risk management market during the forecast period. This is owing to increasing adoption of supply chain risk management platform majorly by growing transportation & logistics and manufacturing sector across the region. For instance, in 2014 government of India launched ‘Make in India’ initiative to attract global manufacturers to set up manufacturing plants in India, which is expected to boost demand for supply chain risk management platform from manufacturing companies.

The government segment is expected to witness a considerable growth rate over the forecast period:

Several governments are focused on improving supply chain for the threat assessment of contractor, sub-contractor or vendor, a vulnerability assessment of proposed acquisition, an assessment of potential impact based upon the criticality of products, or services.

For instance, on July 31, 2018, the Department of Homeland Security (DHS) of the U.S. unveiled the DHS’s new National Risk Management Center (NRMC). NRMC’s key function includes identifying, assessing, and prioritizing risks to national critical functions along with collaborating for the development of risk management strategies and approaches to manage risks to national critical functions, including the development of a strategic framework to identify critical, cross-sector cyber supply supply-chain elements, coordinating integrated cross-sector risk management activities, including establishing a ‘cross-sector, government/industry playbook’ for executing integrated risk management activities.

Supply chain risk management is majorly adopted by the transport and logistics sector. This segment is expected to witness the highest growth rate in end-use industry segment over the forecast period. The growth of the transport and logistics segment is attributed to globalization of supply chain and transport networks, which have given rise to supply chain risks such as fragmentation of value chain, extensive sub-contracting, lack of supplier visibility, natural disasters conflict and political unrest, and reliance on oil. This has led logistics companies to focus on implementing supply chain risk management solution to analyze the market condition, risk/security assessment, and map the supply chain resilience risk associated with transportation and logistics.

The workflow and notification segment is expected to witness a considerable growth over the forecast period:

Workflow and notification platform is used by organizations to manage their workflow. The platform improves organizational workflow by allocating task for timely and effective completion. Furthermore, it can set up notifications and reminders for the progress of a project and automatically analyzes the status of each assigned task in relation to each team member with notification of overdue approvals.

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Some of the key players operating in the global supply chain risk management market include Avetta, LLC, Cura Software Solutions, DHL International GmbH, GEP, LogicManager, Inc., Marsh LLC, MetricStream Inc., SZ DJI Technology Co. Ltd., SAP Ariba Inc., Software AG, and The AnyLogic Company, and others.

There are different metals and alloys used in the manufacturing of batteries. However, alloys are preferred more as they sustain the battery functionality. There are also different types of batteries, which means they require a different type of alloys to fulfill respective requirements. They are classified as primary batteries and secondary batteries. Lead, antimony, selenium, calcium, aluminum, zinc, vanadium, and tin are some of the most common metals used in battery alloys. They are primarily used in battery nodes.

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Market Outlook

The global battery alloys market size is expected to increase, owing to new applications of batteries developed across the world. Moreover, technological advancement and reach of batteries among common masses have increased the market share for the global battery alloys market. For instance, battery alloys find applications in the automotive industry. Increasing demand for electric vehicles is a major driving factor growth of the market. Electric cars have helped to reduce CO2 emission, which is a major factor in global warming. Moreover, electric cars are cleaner, cheaper, and more efficient than conventional fuel cars. This has increased the demand for batteries, subsequently supporting growth of the global battery alloys market. Developed economies such as North America and Europe pose a huge opportunity for the global battery alloys market. Moreover, Asia Pacific region has also started promoting hybrid cars, boosting the demand for batteries and subsequently driving the market growth. Moreover, Asia Pacific is expected to be a major supplier of batteries in the near future. South Korea and Japan are deemed as the major manufacturer of batteries. Furthermore, there is a major demand for batteries in Europe and North America imported from Asia, offering a major opportunity for the global battery alloy marker growth.

Market Regional Analysis

North America and Asia Pacific are expected to have significant growth in the market. This is owing to people opting for electric and hybrid vehicles over conventional gasoline cars. Furthermore, the industrial usage of batteries is expected to hold the second largest market share during the forecast period. The batteries are used for power backup and storage, ultimately increasing the demand for batteries. Alloys such as lead selenium and lead calcium are used in these high-power batteries to make grids. This is subsequently increasing the demand for battery alloys. Lead has arguably the best characteristics among other alloys

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Market Players

Some of the major companies operating in the global battery alloys market include Furukawa Co. Ltd, Mitsubishi Corporation, etc.

Global climate change consulting market generated revenue of US$ 5.3 billion in 2017. By 2026, the climate change consulting market is expected to be valued at US$ 8.0 billion with a CAGR of 4.8% over the forecast period. India is expected to grow at significant rate over the forecast period, followed by Australia in Asia Pacific market. This growth is attributed to continuous demand for consultancy services in manufacturing, mining, government, and other prominent sectors to take a strategic step against climate crisis.

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North America held dominant position in the global climate change consulting market in 2017 and is projected to retain its dominance throughout the forecast period. The U.S. accounted for the largest share in terms of revenue in the region, owing to supportive government legislations in most of the states in the country and initiatives taken by large-scale organizations in response to tackle climate change risks.

Renewable energy development segment held dominant position in the market in 2018

Among service type, the renewable energy development segment held dominant position in the climate change consulting market in 2018 and is projected to retain its dominance throughout the forecast period. Climate change consulting services for renewable energy development spans across all renewable energy technologies such as solar, wind, hydro, bio-energy, and geothermal. Renewable energy development services include renewable energy project development, strategy development, technology selection and procurement, site prospecting and development, risk mitigation and management, etc. Energy performance regulation such as Energy Performance of Building Directive (EPBD) for sustainable buildings, energy certification constraints, and renewable energy integration in smart cities projects is driving growth of this segment. There are numerous policies across the globe to promote the development of renewable energy projects. Climate change consulting companies offers assistance for the technical evaluation of renewable energy policies.

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North America held dominant position in the climate change consulting market in 2017

North America held dominant position in the market in 2017 and is expected to retain its dominance throughout the forecast period. North America climate change consulting market generated revenue of US$ 2,653.0 Mn in 2017. Significant climate changes have already been observed in the U.S. These changes includes a rise in sea level, increase in air and water temperatures, increased frequency and intensity of heavy downpours, reduced frost days, and reduced snow cover, permafrost, glaciers, and sea ice. Climate change impacts are expected to become more severe in North America. According to Coherent Market Insights’ analysis, in 2018, Canada experienced the warmest year on record.

Global predictive maintenance market is estimated to be valued at US$ 2,123.8 Mn in 2018, up from US$ 1,639.2 Mn in 2017. By 2026, the market is projected to reach US$ 17,700.8 Mn, exhibiting a CAGR of 30.3% over the forecast period (2018–2026). Increasing adoption of predictive maintenance in automotive aftermarket, growing industrial automation, increasing demand for periodic maintenance (for operations, assets, and production) are some major factors contributing in growth of the global predictive maintenance market.

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On the basis of component, the global predictive maintenance market is segmented into solutions and services. On the basis of deployment, the market is segmented into on-premise and cloud. On the basis of application, the market is segmented into asset maintenance, operations maintenance, and health & performance optimization. On the basis of end-use industry, the market is segmented into oil & gas, aerospace & defense, automotive, power generation, hospitals/clinics/diagnostic laboratories, biotechnology/pharmaceutical manufacturers, medical device manufacturers, and shipping.

Manufacturing industries are in constant need for improving performance, reliability, and service management. Data acquisition, monitoring, and analytics aids in achieving better reliability and service management. Data-based predictive models help in boosting performance of manufacturing process and offers improved manufacturing quality. Therefore, such benefits of predictive maintenance increasing its adoption in manufacturing industries. For instance, a global aircraft design and manufacturing company, implemented IoT WoRKS by HCL for predictive maintenance.

Automotive companies use predictive maintenance to collect and monitor real-time data. The collected real-time data is used for gaining insights of the vehicle and engine parts. For instance, in 2017, Mercedes Benz implemented predictive maintenance for real-time data gathering, which allowed the company to acquire data from vehicle when it is being used by the customer. It aids the company to predict any incident or failure regarding the vehicle.

The solution segment held dominant position in the market in 2018

Solution segment held dominant position in the market in 2018 and it is expected to retain its dominance over the forecast period. Emerging economies such as India and China in Asia Pacific are expected to witness significant growth in the solution segment in the predictive maintenance market. This is owing to growing manufacturing sector and increasing industrial automation across various industry verticals in the region such as automotive and aerospace & defense. For instance, according to India Brand Equity Foundation, 2018, the manufacturing sector in India witnessed a CAGR of 4.34% during FY12 and FY18 (as per the second advance estimates of annual national income published by the Government of India).

A basic predictive maintenance solution has a well -designed process model, which includes connected equipment, feature engineering, machine learning, implementation, and prediction. A smart maintenance predictive solution deals with capturing data and offers automated feature generation and optimized predictive model with real-time estimates and outcomes. Moreover, growth of smart maintenance predictive solutions segment is attributed to increasing number of connected assets throughout industrial applications. For instance, according to World Economic Forum, in 2018, less than 20% of assets were connected worldwide and the number is rapidly surging due to increasing automation across various industry verticals.

The U.S. accounted for the largest share in North America and the global predictive maintenance market in 2017, and is projected to retain its dominance during the forecast period. This is owing to increasing investment by major companies to increase profitability and to achieve cost optimization.

In North America predictive maintenance market, the manufacturing segment held dominant position, followed by aerospace & defense, and energy & utilities sector. Key players operating in the North America predictive maintenance market include, Robert Bosch, General Electric, and Rockwell Automation.

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Global Predictive Maintenance Market: Key Players

Major players operating in the global predictive maintenance industry include, Amiral Technologies, Embitel, General Electric, Honeywell International, Inc., IBM Corporation, Microsoft Corporation, Rockwell Automation, Inc., Senseye Ltd., Softweb Solutions, Inc., Warwick Analytics, SAP SE, Robert Bosch GmbH, Software AG and Siemens AG.

An automotive cabin AC filter is a component, which is used to filter out the harmful airborne particles such as mold spores, dust, soot, pet dander, smog, mildew, fungus, pollen, fumes, tobacco smoke, and other allergens and odors inside the vehicle. Cabin AC filters ensure driver and passenger comfort with safer breathing air through heat and ventilation system. Furthermore, as an extra benefit to regular ACs, cabin AC filters helps to decrease cost of ownership by decreasing the wear of the vehicle’s heating, ventilation, and air conditioning systems.

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Global automotive cabin AC filters market is expected to witness a significant growth during the forecast period (2019–2027). The market growth for automotive cabin AC filters is majorly attributed to growing demand for vehicles and implementation of cabin AC filters in them. It is also due to rising awareness among passengers and drivers regarding changing cabin AC filter after regular interval of time to avoid asthma or some other allergies caused by airborne contaminants by continuously sitting inside the car.

The major restraining factor for global automotive cabin AC filters market is that most of the consumers are not aware about the function of filter in the system. Thus, most consumers are not aware of the replacement cycle of the filter. This can hamper the market growth to a certain extent. However, aftermarket and original equipment manufacturing (OEM) vendors are actively educating automobile owners about the function of various automotive peripherals and the importance of their timely replacement in order to ensure smooth functioning of vehicles and to avoid health related issues.

Surge in Demand for Automobile Vehicles across the Globe is expected to Aid in Growth of the Global Automotive Cabin AC Filters Market.

Global automotive cabin AC filters market is segment into filter type, vehicle type, sales channel and region. Among vehicle type segment, passenger cars segment contributes to more than half the market share followed by light commercial vehicle and then the heavy commercial vehicle, owing to increasing demand for passenger cars in the emerging economies such as India and China. For instance according to International Organization of Motor Vehicle Manufacturers the production of passenger cars increased from 3,961,327 in 2017 to 4,064,774 in 2018.   

Various automobile component manufacturers such as Freudenberg Filtration Technologies SE & Co. KG, Denso Corp, and many other are excessively investing on research and development to upgrade their cabin AC filters. This is owing to hybrid, fuel cell, and electric vehicles gaining traction and increasing demand for such vehicles. Therefore, to fulfill the demand for such vehicles, manufacturers are developing holistic solutions to make the mobility of tomorrow more sustainable, more comfortable, and healthier with high-performance cabin air filters and drive intake air solutions.

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Increasing Demand for Automotive Cabin AC Filters among Vehicle Type Segment in Emerging Economies of Asia Pacific, owing to huge customer base owning vehicles in this region.

Asia Pacific held dominant position in the global automotive cabin AC filters market in 2017, and is projected to retain its dominance throughout the forecast period. This is owing to huge customer base using vehicles in this region. Asia Pacific region contributes around more than half of the total vehicles production globally, owing to which the demand for automotive cabin AC is expected to grow in this region during the forecasted period.

An automotive cabin AC filter is a component, which is used to filter out the harmful airborne particles such as mold spores, dust, soot, pet dander, smog, mildew, fungus, pollen, fumes, tobacco smoke, and other allergens and odors inside the vehicle. Cabin AC filters ensure driver and passenger comfort with safer breathing air through heat and ventilation system. Furthermore, as an extra benefit to regular ACs, cabin AC filters helps to decrease cost of ownership by decreasing the wear of the vehicle’s heating, ventilation, and air conditioning systems.

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Global automotive cabin AC filters market is expected to witness a significant growth during the forecast period (2019–2027). The market growth for automotive cabin AC filters is majorly attributed to growing demand for vehicles and implementation of cabin AC filters in them. It is also due to rising awareness among passengers and drivers regarding changing cabin AC filter after regular interval of time to avoid asthma or some other allergies caused by airborne contaminants by continuously sitting inside the car.

The major restraining factor for global automotive cabin AC filters market is that most of the consumers are not aware about the function of filter in the system. Thus, most consumers are not aware of the replacement cycle of the filter. This can hamper the market growth to a certain extent. However, aftermarket and original equipment manufacturing (OEM) vendors are actively educating automobile owners about the function of various automotive peripherals and the importance of their timely replacement in order to ensure smooth functioning of vehicles and to avoid health related issues.

Surge in Demand for Automobile Vehicles across the Globe is expected to Aid in Growth of the Global Automotive Cabin AC Filters Market.

Global automotive cabin AC filters market is segment into filter type, vehicle type, sales channel and region. Among vehicle type segment, passenger cars segment contributes to more than half the market share followed by light commercial vehicle and then the heavy commercial vehicle, owing to increasing demand for passenger cars in the emerging economies such as India and China. For instance according to International Organization of Motor Vehicle Manufacturers the production of passenger cars increased from 3,961,327 in 2017 to 4,064,774 in 2018.

Various automobile component manufacturers such as Freudenberg Filtration Technologies SE & Co. KG, Denso Corp, and many other are excessively investing on research and development to upgrade their cabin AC filters. This is owing to hybrid, fuel cell, and electric vehicles gaining traction and increasing demand for such vehicles. Therefore, to fulfill the demand for such vehicles, manufacturers are developing holistic solutions to make the mobility of tomorrow more sustainable, more comfortable, and healthier with high-performance cabin air filters and drive intake air solutions.

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Increasing Demand for Automotive Cabin AC Filters among Vehicle Type Segment in Emerging Economies of Asia Pacific, owing to huge customer base owning vehicles in this region.

Asia Pacific held dominant position in the global automotive cabin AC filters market in 2017, and is projected to retain its dominance throughout the forecast period. This is owing to huge customer base using vehicles in this region. Asia Pacific region contributes around more than half of the total vehicles production globally, owing to which the demand for automotive cabin AC is expected to grow in this region during the forecasted period.