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Automotive Filters Market 2018 Global Trends, Size, Share, And Key Players Analysis To 2023 -

10-16-2018 09:09 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Market Research Future

Automotive Filters Market 2018 Global Trends, Size, Share,

Automotive Filters Market 2018 Global Forecast to 2023 Research Report, Global Automotive Filters market is expected to grow over the CAGR of around 4.96% during the period 2018 to 2023. The global automotive filters market has seen a remarkable growth; expected to expand with the CAGR of ~4.96%. Strict government regulations regarding fuel emissions are expected to drive the global market. Growing health concern among consumers will further increase the sales of the filters.

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The prominent players in the automotive filters market include Robert Bosch GmbH (Germany), ALCO filters (Germany), Lydall Inc. (Japan), Toyota Boshoku Corporation (Japan), Mahle GmbH (Germany), Mann+Hummel, Clarcor Inc. (Germany), ACDelco Inc. (U.S.), Cummins Inc. (U.S.), Denso Corporation (Japan), Hollingsworth & Vose Co. Inc. (U.S.), Donaldson Company Inc (U.S.).

Market Highlights:

The global automotive filters market has seen a remarkable growth; expected to expand with the CAGR of ~4.96%. Strict government regulations regarding fuel emissions are expected to drive the global market. Growing health concern among consumers will further increase the sales of the filters. Growing awareness and increase in demand for automotive filters will create opportunities for new entrants. Moreover, in 2016, Europe introduced acceptable limits of exhaust emission from vehicles and this news has increased the sales and demand for automotive filters. 

According to Automotive Aftermarket Suppliers Association (AASA), as a result of service parts counterfeiters in 2015 the market incurred a loss of around USD 12 billion every year, USD 3 billion of which is estimated to be for the U.S. market, only. However, counterfeiting of products will be a major challenge for manufacturers. Moreover, the unavailability of original products will hamper the growth of the market. Counterfeiting in aftermarket is also a major restraint for the market.

In terms of region, the global market for automotive filters is divided into North America, Europe, Asia Pacific and Rest of the World. Asia Pacific is expected to hold the major market revenue share over the forecast period. Lower labor cost, a high demand for vehicles, and improved infrastructure are the major reasons behind the growth of the region. Asia Pacific held more than 40% of the total market in 2016 and it is expected to grow during the forecast period. On the other hand, U.S. and Canada are expected to grow over the forecast period owing to increased sales of automobile and growing awareness about emission control. In the future, government regulations in Europe are becoming stricter every year. This means that the manufacturers need to be well aware of the regulatory requirement.

This study provides an overview of the global automotive filters market, tracking three market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive filters market by type, sales, application and regions.

For more details visit: https://www.marketresearchfuture.com/press-release/automotive-filters-market

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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