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The Global Automotive Vents Market size is estimated to grow by USD 1,240.88 million between 2022 and 2027 accelerating at a CAGR of 5.5%.
Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
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The automotive industry in emerging economies is driven by increasing economic activities and rising per capita income. Urbanization leads to the growth of cities and an increase in consumer demand, as public infrastructure such as public transport is often insufficient for the dense urban population. This results in the purchase of cars for convenience and the growth of the industry. Additionally, the lack of last-mile connectivity provided by railways increases the demand for heavy commercial vehicles. The emergence of e-commerce sites further drives this demand. As these are essential components of automobiles, the growth of the industry in emerging economies is a major driver of the market during the forecast period.
Automotive vents play a crucial role in protecting vehicle components from dust, water, and fluids. They need to balance airflow and water entry pressure while reducing heat and foreign material entry. companies in the sector are differentiating themselves by providing longer warranties on components, while miniaturization is being adopted by automobile manufacturers to maximize space. However, these trends present challenges for manufacturers who must produce more durable vents while reducing surface area and weight. To meet these challenges, manufacturers are improving vent membranes to enhance performance and withstand tests such as ingress protection rating. The market is expected to see an increase in the number of manufacturers providing improved membranes during the forecast period.
Manufacturers of these vents face a significant challenge due to the short product lifecycle resulting from rapidly evolving technology and changing demand. To keep up with current developments, companies need to focus on innovating new products or modifying existing ones, which can be costly. As the number of electronic components in vehicles increases, manufacturers need to design compact products, including vents, to make vehicles more spacious. This further increases innovation and R&D costs, as companies need to develop products that allow greater airflow per membrane. As a result, the short product lifecycle and ongoing product development, such as electronics, can reduce profit margins for manufacturers and hinder market growth.
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The market share growth by the automotive electronics segment will be significant during the forecast period. The electronics segment includes the vehicle horn, electronic still cameras, brake boosters, electronic stability controls, power steering electrometers, clutches, ECUs, and alternators. The need for safety in automobiles along with stringent government rules and regulations and advances in communication technology are the key factors driving the growth of electronics.
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The automotive electronics segment showed a gradual increase in market share with USD 1,876.77 million in 2017 and continued to grow by 2021. OEMs are focusing on advancing their technology, thereby strengthening the demand for electronics. Automotive electronics will give manufacturers a competitive advantage in terms of providing a more engaging consumer experience, which increases the adoption of automotive electronics. The adoption of electronic components has escalated the use of ECUs that are fitted in vehicles. Components such as electronic stability control provide better safety by improving vehicle stability.
The growth of this segment is primarily attributed to the increasing adoption of advanced products by OEMs, which is driven by an increase in the global demand for the industry.
PTFE is a synthetic, versatile ivory-white and opaque plastic fluoropolymer made by free-radical polymerization of many tetrafluoroethylene molecules. PTFE is used in a wide range of applications, such as aerospace, food and beverages, pharmaceuticals, and telecom. Some of the companies are focusing on extending their product offerings. Such product launches will influence the growth of the market during the forecast period. In the aerospace industry, PTFE is used in cable insulation, fuel hoses, and surface protection on doors. In industrial applications, PTFE is used to produce plain bearings, gears, slide plates, seals, gaskets, and bushings due to low friction. In addition, PTFE is used as an oxidizer with powdered metals such as aluminum and magnesium in pyrotechnic compositions, a fabric protector, a film interface patch for sports and medical applications, and dental filling to isolate the contacts of anterior teeth. The growing applications of PTFE will boost market growth during the forecast period.
APAC is estimated to contribute 51% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in APAC is expected to be driven by the rapid growth of the industry in many APAC nations during the forecast period. The penetration of electric vehicles and increasing consumer propensity for high-end cars will boost the market growth in APAC. The increase in disposable income in emerging economies has increased the number of first-time car buyers in these countries. Therefore, the growing industry in APAC plays a key role in enhancing the regional market's potential. Modern consumers are experiencing enhanced purchasing power, which spurs sales of premium segment automobiles in APAC. As premium segment vehicles require more outlet due to the presence of more ECUs and sensors, a rise in their sales will drive the market's growth in APAC.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the Market. One of the major vendor in the market include:
Donaldson Co. Inc. - The company operates under two segments which are engine products and industrial products, with a high focus on engine products. Through this segment, the company is involved in offering replacement filters for both air and liquid filtration applications, air filtration systems, liquid filtration systems for fuel, lube, and hydraulic applications, exhaust and emissions systems sensors, indicators, and monitoring systems. The company's key offerings for ECU, SCR, and Sensors.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified. Furthermore, it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The report forecasts market growth by revenue at global, regional & country levels and provides a market growth analysis analysis of the latest trends and growth opportunities from 2017 to 2027.
The market encompasses passenger automobiles and commercial trucks, with a particular focus on the increasing trend in electric car sales. Government initiatives promoting vehicle safety have led to advancements in airflow pressure technologies, influencing automotive vendors and market participants.
However, the market faces restraint factors, notably the challenges associated with electric vehicle penetration. Financial players and automotive stakeholders are exploring joint ventures to overcome these challenges and foster technological advancements. The dynamic landscape of the market reflects the intersection of safety concerns, governmental support, and the ongoing evolution of electric vehicles. As the industry navigates these factors, collaborative efforts and innovations are essential for sustainable growth in the automotive ventilation sector.
Automotive Vents Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.5% |
Market growth 2023-2027 |
USD 1,240.88 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.55 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 51% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Berghof GmbH, Cascade Engineering, Donaldson Co. Inc., Filtration Group Corp., Fischer systems GmbH and Co. KG, Hangzhou IPRO Membrane Technology Co. Ltd., Interstate Specialty Products Inc., LTI Atlanta, MAHLE GmbH, Nifco Inc., Novares Group SA, Polystar Technologies LLC., Shenzhen Milvent Technology Co. Ltd., W. L. Gore and Associates Inc., Weber GmbH and Co. KG, and Parker Hannifin Corp. |
Market dynamics |
Parent market analysis, Market forecasting, 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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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