NEW YORK, February 2, 2017 /PRNewswire/ --
Continuously expanding automobile fleet size coupled with increasing vehicle sales to drive India automotive filter market through 2021
According to TechSci Research report, "India Automotive Filter Market Forecast & Opportunities, 2021", the automotive filter market in India is anticipated to grow at a CAGR of over 11% during 2016 - 2021, on account of strong domestic automobile demand, favorable government policies, planned capacity expansions by major automobile OEMs coupled with rapidly expanding automobile fleet. Further, the launch of Automotive Mission Plan, 2016-2026 is expected to boost the production of automobiles in the country over the next five years, thereby aiding the country's automotive filter market.
Browse 32 market data Tables and 49 Figures spread through 149 Pages and an in-depth TOC on
"India Automotive Filter Market"
Two-wheeler segment dominated the country's automotive filter market during 2011 - 2015, and the segment is expected to maintain its dominance over the next five years as well. The production of two-wheelers in India increased at a CAGR of 5.11% during FY2011-FY2015, backed by increasing inclination of consumers towards two-wheelers, due to their easy maneuverability and high mileage. Additionally, enormous fleet size of two-wheelers in the country contributed to growing demand for automotive filters in the country.
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"Over the last few years, the penetration of diesel vehicles in the country's automotive industry has increased at a considerable rate. Diesel vehicles have comparatively shorter replacement period for filters than petrol vehicles. The number of diesel vehicles in India is expected to multiply in the coming years owing to several advantages such as better mileage and low price as compared to petrol. Backed by expanding fleet of diesel vehicles, India automotive filter market is anticipated to grow at a robust pace over the next five years.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India Automotive Filter Market Forecast and Opportunities, 2021" has evaluated the future growth potential of India automotive filter market and provides statistics and information on market size, consumer behavior and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India automotive filter market.
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