Air Filter Cartridges Market by End-user and Geography - Forecast and Analysis 2022-2026

Published: May 2022 Pages: 143 SKU: IRTNTR73581

The air filter cartridges market share is expected to increase by USD 21.18 billion from 2021 to 2026, and the market's growth momentum will decelerate at a CAGR of 4.1%.

The air filter cartridges market has been broadly categorized into the following demographic segmentations: 

  • End-user - Industrial, commercial, and residential
  • Geography - APAC, North America, Europe, Middle East and Africa, and South America

What will the Air Filter Cartridges Market Size be During the Forecast Period?

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The air filter cartridges market report offers information on several market vendors, including 3M Co., Absolent Group AB, Camfil AB, Cummins Inc., Daikin Industries Ltd., Danaher Corp., Donaldson Co. Inc., Eaton Corp. Plc, Festo SE and Co. KG, Filter Concept Pvt. Ltd., Freudenberg SE, Honeywell International Inc., Johnson Controls International Plc, Kalthoff Luftfilter und Filtermedien GmbH, Micronics Filtration LLC, Nederman Holding AB, Parker Hannifin Corp., Purafil Inc., Sharp Corp., SPX FLOW Inc., and U.S. Air Filtration Inc. among others.

One of the key highlights of the air filter cartridges market research report is the post COVID-19 impact analysis on the market, which will help companies evaluate their business approaches for the forecast period.

Air Filter Cartridges Market: Key Drivers, Trends, and Challenges

The growing need for process and environmental safety in industries is notably driving the air filter cartridges market growth, although factors such as the availability of substitutes may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the air filter cartridges industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Air Filter Cartridges Market Driver

  • The growing need for process and environmental safety in industries is one of the key drivers supporting the air filter cartridges market growth.
  • Industries utilize various processes that emit different types of pollutants, dust, or dirt particles, which are harmful to both industrial machinery and the workforce.
  • The accumulation of dust particles can cause the corrosion of the machine parts. As part of a filtration system, air filter cartridges help remove foreign materials such as dust or dirt particles from the air to provide clean air.
  • The use of air filter cartridges infiltration systems controls the pollutant level and ensures a safe working environment for employees and reduces carbon footprint.
  • Industries such as cement, mining, paper and pulp, and welding are exposed to pollutants due to their nature of operations, which involve coarse and fine graded particles. Hence, air handling units are required in such plants to meet the precise airflow requirements to avoid product contamination and equipment degradation. This, in turn, will drive the air filter cartridges market growth during the forecast period.

Key Air Filter Cartridges Market Trend

  • Demand for air filter cartridges from semiconductor- and nano-processing-manufacturing plants is one of the key air filter cartridges market trends fueling the market growth.
  • Manufacturing processes such as semiconductor and nano-processing in industries are highly sensitive and require a high level of tolerance and precision. These industries require a particle-free and microorganism-free environment as the presence of fine dust particles can put semiconductors and processors at high risk.
  • In nano-processing, where the object size is in nanometers, a small foreign particle can have an adverse effect on the final product. Therefore, the use of air filter cartridges for filtration in microelectronics ensures that critical products remain uncontaminated.
  • Semiconductor manufacturers can reduce their operating costs by maintaining a stable and clean manufacturing environment.
  • Air filter cartridges are exclusively designed for the filtration of semiconductor gases when ultra-high flow rates are needed. This will benefit consumers as it will result in a reduction in the prices of electronic products. Such factors will boost the air filter cartridges market trends fueling the market growth during the forecast period.

Key Air Filter Cartridges Market Challenge

  • The availability of substitutes is one of the challenges hampering the air filter cartridges market growth.
  • Baghouse filters are one of the major substitutes for cartridge-type dust collector filters. In industries, multiple baghouse filters are arranged in a row to collect dust.
  • Baghouse filters are highly popular for applications in hostile working conditions, where the filter is exposed to high temperature, moisture, and heavy dust loading.
  • Although the popularity of air filter cartridges has increased over the years, baghouse filters are still used in industries because of their low cost compared with cartridge filters.
  • Baghouse filters are preferred over cartridge filters for small-batch operations due to their lower filtering surface area. Such benefits of using substitutes will hinder the air filter cartridges market growth during the forecast period.

This air filter cartridges market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global air filter cartridges market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the air filter cartridges market during the forecast period.

Who are the Major Air Filter Cartridges Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • 3M Co.
  • Absolent Group AB
  • Camfil AB
  • Cummins Inc.
  • Daikin Industries Ltd.
  • Danaher Corp.
  • Donaldson Co. Inc.
  • Eaton Corp. Plc
  • Festo SE and Co. KG
  • Filter Concept Pvt. Ltd.
  • Freudenberg SE
  • Honeywell International Inc.
  • Johnson Controls International Plc
  • Kalthoff Luftfilter und Filtermedien GmbH
  • Micronics Filtration LLC
  • Nederman Holding AB
  • Parker Hannifin Corp.
  • Purafil Inc.
  • Sharp Corp.
  • SPX FLOW Inc.
  • U.S. Air Filtration Inc.

 

This statistical study of the air filter cartridges market encompasses successful business strategies deployed by the key vendors. The air filter cartridges market is fragmented and the vendors are deploying growth strategies such as quality, price, and brand value to compete in the market.

Product Insights and News

  • 3M Co. - The company offers air filter cartridges such as 3M Ammonia Filter 60924, 3M Canister FR 5 CBRN, 3M Organic Vapor Cartridge with Pre filter 3301K 55, and 3M Mercury Vapor Gas Cartridge 6009S. 
  • Camfil AB - The company offers air filter cartridges such as Gold Cone, Gold Cone X Flo, HemiPleat, HemiPleat Conductive, HemiPleat Extreme Media, and Retrofit Filter Cartridges. 
  • Daikin Industries Ltd. - The company offers air filter cartridges to various industries including semiconductors, precision equipment, pharmaceuticals, healthcare, food, and building HVAC systems.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The air filter cartridges market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Air Filter Cartridges Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the air filter cartridges market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Air Filter Cartridges Market?

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29% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for the air filter cartridges market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Rising infrastructural spending on commercial projects will facilitate the air filter cartridges market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of the COVID-19 affected the growth of several industries in the region, including the construction industry, as several construction projects were either delayed or canceled. However, China and India have the highest urbanization rate in the world. Therefore, the demand for engineering services increased rapidly in 2021. This, in turn, will have a positive impact on the air filter cartridges market growth during the forecast period.

What are the Revenue-generating End-user Segments in the Air Filter Cartridges Market?

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The air filter cartridges market share growth by the industrial segment will be significant during the forecast period. Air filter cartridges are used to maintain a clean environment in industrial plants. Some industrial applications require the increased deployment of air filter cartridges. Industries such as cement, metals, paper and pulp, and textile widely use air filter cartridges. These devices are extensively used in applications such as welding, sandblasting, and laser cutting. Such an increased application in the industrial sector will propel the air filter cartridges market growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the air filter cartridges market size and actionable market insights on post COVID-19 impact on each segment.

 

Air Filter Cartridges Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 4.1%

Market growth 2022-2026

$ 21.18 million

Market structure

Fragmented

YoY growth (%)

4.46

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 29%

Key consumer countries

US, China, India, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

3M Co., Absolent Group AB, Camfil AB, Cummins Inc., Daikin Industries Ltd., Danaher Corp., Donaldson Co. Inc., Eaton Corp. Plc, Festo SE and Co. KG, Filter Concept Pvt. Ltd., Freudenberg SE, Honeywell International Inc., Johnson Controls International Plc, Kalthoff Luftfilter und Filtermedien GmbH, Micronics Filtration LLC, Nederman Holding AB, Parker Hannifin Corp., Purafil Inc., Sharp Corp., SPX FLOW Inc., and U.S. Air Filtration Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Air Filter Cartridges Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive air filter cartridges market growth during the next five years
  • Precise estimation of the air filter cartridges market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the air filter cartridges industry across APAC, North America, Europe, Middle East and Africa, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of air filter cartridges market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 26: Chart on Comparison by End-user
      • Exhibit 27: Data Table on Comparison by End-user
    • 5.3 Industrial - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Industrial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Industrial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Industrial - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Industrial - Year-over-year growth 2021-2026 (%)
    • 5.4 Commercial - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Commercial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Commercial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Commercial - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Commercial - Year-over-year growth 2021-2026 (%)
    • 5.5 Residential - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Residential - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Residential - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Residential - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Residential - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by End-user
      • Exhibit 40: Market opportunity by End-user ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 India - Market size and forecast 2021-2026
      • Exhibit 74: Chart on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on India - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on India - Year-over-year growth 2021-2026 (%)
    • 7.11 Germany - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.12 Japan - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 3M Co.
              • Exhibit 93: 3M Co. - Overview
              • Exhibit 94: 3M Co. - Business segments
              • Exhibit 95: 3M Co. - Key news
              • Exhibit 96: 3M Co. - Key offerings
              • Exhibit 97: 3M Co. - Segment focus
            • 10.4 Camfil AB
              • Exhibit 98: Camfil AB - Overview
              • Exhibit 99: Camfil AB - Product / Service
              • Exhibit 100: Camfil AB - Key offerings
            • 10.5 Daikin Industries Ltd.
              • Exhibit 101: Daikin Industries Ltd. - Overview
              • Exhibit 102: Daikin Industries Ltd. - Business segments
              • Exhibit 103: Daikin Industries Ltd. - Key offerings
              • Exhibit 104: Daikin Industries Ltd. - Segment focus
            • 10.6 Danaher Corp.
              • Exhibit 105: Danaher Corp. - Overview
              • Exhibit 106: Danaher Corp. - Business segments
              • Exhibit 107: Danaher Corp. - Key news
              • Exhibit 108: Danaher Corp. - Key offerings
              • Exhibit 109: Danaher Corp. - Segment focus
            • 10.7 Donaldson Co. Inc.
              • Exhibit 110: Donaldson Co. Inc. - Overview
              • Exhibit 111: Donaldson Co. Inc. - Business segments
              • Exhibit 112: Donaldson Co. Inc. - Key news
              • Exhibit 113: Donaldson Co. Inc. - Key offerings
              • Exhibit 114: Donaldson Co. Inc. - Segment focus
            • 10.8 Eaton Corp. Plc
              • Exhibit 115: Eaton Corp. Plc - Overview
              • Exhibit 116: Eaton Corp. Plc - Business segments
              • Exhibit 117: Eaton Corp. Plc - Key news
              • Exhibit 118: Eaton Corp. Plc - Key offerings
              • Exhibit 119: Eaton Corp. Plc - Segment focus
            • 10.9 Festo SE and Co. KG
              • Exhibit 120: Festo SE and Co. KG - Overview
              • Exhibit 121: Festo SE and Co. KG - Product / Service
              • Exhibit 122: Festo SE and Co. KG - Key offerings
            • 10.10 Filter Concept Pvt. Ltd.
              • Exhibit 123: Filter Concept Pvt. Ltd. - Overview
              • Exhibit 124: Filter Concept Pvt. Ltd. - Product / Service
              • Exhibit 125: Filter Concept Pvt. Ltd. - Key offerings
            • 10.11 Freudenberg SE
              • Exhibit 126: Freudenberg SE - Overview
              • Exhibit 127: Freudenberg SE - Business segments
              • Exhibit 128: Freudenberg SE - Key news
              • Exhibit 129: Freudenberg SE - Key offerings
              • Exhibit 130: Freudenberg SE - Segment focus
            • 10.12 Parker Hannifin Corp.
              • Exhibit 131: Parker Hannifin Corp. - Overview
              • Exhibit 132: Parker Hannifin Corp. - Business segments
              • Exhibit 133: Parker Hannifin Corp. - Key news
              • Exhibit 134: Parker Hannifin Corp. - Key offerings
              • Exhibit 135: Parker Hannifin Corp. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 136: Inclusions checklist
                • Exhibit 137: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 138: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 139: Research methodology
                • Exhibit 140: Validation techniques employed for market sizing
                • Exhibit 141: Information sources
              • 11.5 List of abbreviations
                • Exhibit 142: List of abbreviations
              • However, like in other regions, the COVID-19 outbreak has adversely impacted air filter cartridges market growth in the region. The increased number of COVID-19 cases led to the temporary suspension of several construction projects in 2020. Therefore, the decline in the growth of the construction industry had a negative impact on the growth of the air filter cartridges market in the region, primarily in 2020. The ongoing vaccination drive and ease of lockdown restrictions have restarted several construction projects, such as the Red Sea Project, which is expected to complete by 2030. The project is being built in a region spanning 30,000 square kilometers. Also, in 2021, the Government of Saudi Arabia announced its plan to invest in the development of a smart city, the King Abdullah Economic City. The total cost of the project is estimated to be $220
                • in manufacturing industry: Market dynamics in some major processes and discrete industries are changing drastically, and manufacturers are gradually feeling the brunt of excessive demand fluctuations. The fluctuating prices of oil and gas and metals in the global market and the shortage of a skilled workforce worldwide have directly affected the profitability of manufacturing companies. A sudden and unexpected shift in market dynamics can drastically impact manufacturing processes and investments in capital goods.
                  • slowdown in the automotive industry: High motorization rates in North America and Europe, the increase in tariffs on imported vehicles in the US and China, and the global economic slowdown are likely to reduce vehicle sales in the coming years. Anticipating a decline in vehicle sales, several vehicle manufacturers are halting their vehicle production. For instance, in March 2019, Ford announced the shutdown of its three vehicle-manufacturing sites in Russia. Similarly, in August 2019, Mahindra and Mahindra Ltd. stopped vehicle production at its manufacturing units in India for 8-14 days. During the same month, Maruti Suzuki announced that it had cut its vehicle production for the sixth consecutive month in 2019. In August 2019, Honda announced a halt in car production at its Argentina-based manufacturing plants. Such a slowdown in the automotive industry is expected to hamper the growth of the market during the forecast period.

                    Research Framework

                    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                    INFORMATION SOURCES

                    Primary sources

                    • Manufacturers and suppliers
                    • Channel partners
                    • Industry experts
                    • Strategic decision makers

                    Secondary sources

                    • Industry journals and periodicals
                    • Government data
                    • Financial reports of key industry players
                    • Historical data
                    • Press releases

                    DATA ANALYSIS

                    Data Synthesis

                    • Collation of data
                    • Estimation of key figures
                    • Analysis of derived insights

                    Data Validation

                    • Triangulation with data models
                    • Reference against proprietary databases
                    • Corroboration with industry experts

                    REPORT WRITING

                    Qualitative

                    • Market drivers
                    • Market challenges
                    • Market trends
                    • Five forces analysis

                    Quantitative

                    • Market size and forecast
                    • Market segmentation
                    • Geographical insights
                    • Competitive landscape

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                    Key Questions Answered

                    • What are the key global market and the regional market share?
                    • What are the revenue-generating key market segments?
                    • What are the key factors driving and challenging this market’s growth?
                    • Who are the key market vendors and their growth strategies?
                    • What are the latest trends influencing the growth of this market?
                    • What are the variables influencing the market growth in the primary regions?
                    • What are the factors influencing the growth of the parent market?

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