Automotive Fuel Filter Market Projected to Reach 7.68% CAGR Till 2023 | Global Key Company’s (Alco, Denso Corporation, Cummins, Sogefi Group)

The automotive fuel filter market is expected to register a CAGR of 7.68% during the forecast period. Automobile engines around the world have become very sophisticated and advanced in recent years. These engines have a low tolerance level for low and irregular quality fuel. The high quality of oil fuel filters is thus required to ensure the smooth running of the engine.

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Stringent emission regulations

Automotive fuel filters play a very important role in controlling emissions. After the Volkswagen emission scandal, government agencies around the world have become very vigilant with regards to adherence to emission norms, and this has boosted the fuel filters market. Due to alarming pollution levels in cities, emission norms, especially in emerging markets like India and China, are being upgraded at a high rate. India, in order to curb pollution, has decided to leapfrog BS 5 and jump straight to BS 6 by 2022. This is expected to bring the emission requirements of automobiles in India on par with the European norms of 2017. As a result, the fuel filters market in India is anticipated to increase exponentially by 2023.

Key Developments in the Market:

January 2018: Diesel cars face a tougher MOT test from May as it targets particulate filters in emissions crackdown
October 2017: Mahle GmBH unveiled its latest range of fuel filters with claimed efficiency increase of 4-6%.

Major Players:

ALCO, DENSO CORPORATION, CUMMINS INC, SOGEFI GROUP, amongst others.

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Asia-Pacific dominating the market growth

The Asia-Pacific region, despite the sluggish growth in the Chinese market (the largest automobile market in the world), is expected to lead the growth in the automotive oil and fuel filters market. The European and North American markets are also anticipated to see strong levels of growth by 2023 in the light of the recovering automotive sector post the 2008-09 crises. The South American market is forecasted to see sluggish growth due to poor automobile sales as a result of the economic crisis in the region but is anticipated to bounce back post-2022.

Reasons to Purchase this Report:

• The report analyses how the stringent emission norms will drive the global automotive fuel filter market.
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
• Study on the product type that is expected to dominate the market.
• Study on the regions that are expected to witness fastest growth during the forecast period.
• Identify the latest developments, market shares and strategies employed by the major market players.
• 3 months analyst support along with the Market Estimate sheet (in excel).

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This release was published on openPR.