Triton’s report infers that the Asia-Pacific intake filter media market is anticipated to achieve revenue growth at a CAGR of 5.06% during the forecast period 2024-2032. India, South Korea, China, ASEAN countries, Japan, Australia & New Zealand, and the Rest of Asia-Pacific are considered in the region’s market.
In 2022, the Japanese intake filter media market reached a valuation of around $1.6 billion, reflecting diverse preferences in filter media. Synthetic filters claimed a leading market share, with cellulose and other filter materials following. Key market influencers include Tokyo Roki Co Ltd., Kokusan Denki Co Ltd., Nippon Muki Co Ltd, and Japan Vilene Co Ltd. These entities play crucial roles in influencing the application of intake filter media across various sectors.
Anticipated growth in vehicle production, projected to reach 5.4 million units by 2025, is a key contributor to the Indian market’s expansion. Additionally, the rising demand for aftermarket replacement filters, driven by relatively low vehicle penetration rates, further fuels market growth. Notably, substantial investments are currently in progress to enhance local production capabilities for more advanced filter media in engines. This strategic initiative aims to align with evolving market demands and foster indigenous manufacturing capabilities.
COMPETITIVE OUTLOOK
The notable companies in the intake filter media market consist of K&N Engineering Inc, Toyota Boshoku Corporation, Mann+Hummel, Cummins Inc, and Hengst.
1. Asia-pacific Intake Filter Media Market – Summary
2. Industry Outlook
2.1. Porter’s Five Forces Analysis
2.1.1. Threat Of New Entrants
2.1.2. Threat Of Substitutes
2.1.3. Bargaining Power Of Buyers
2.1.4. Bargaining Power Of Suppliers
2.1.5. Threat Of Competitive Rivalry
2.2. Market Maturity Analysis
2.3. Supply Chain Analysis
2.3.1. Raw Materials
2.3.2. Manufacturers
2.3.3. Distributors
2.3.4. Retailers
2.3.5. Sales
2.4. Regulatory Framework
2.5. Key Buying Impact Analysis
2.5.1. Cost
2.5.2. Product Features
2.5.3. Usability
2.5.4. Availability
2.6. Key Market Strategies
2.6.1. Collaborations
2.6.2. Product Launches
2.6.3. Acquisitions
2.6.4. Business Divestitures & Expansions
2.7. Market Drivers
2.7.1. Advancements In Developing Eco-friendly Filter Materials