Automotive Oil & Air Filters Market Size, Share, Analysis and Forecast, 2021-2031 | Key Segments, Benefits & Opportunity

Automotive Oil & Air Filters Market: Introduction

Transparency Market Research delivers key insights on the global automotive oil & air filters market. In terms of revenue, the global automotive oil & air filters market is estimated to expand at a CAGR of 3.90% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global automotive oil & air filters market.

Technological advancements such as real-time monitoring of oil condition with the help of IoT devices and development of new materials including nanofibers are driving the automotive filtration industry. The demand for vehicles has been rising among industries such as construction, mining, forestry, and agriculture. Transportation has been increasing due to rapid urbanization. This is augmenting the total vehicle miles travelled globally, thus fueling the demand for automotive oil & air filters.

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Automotive Oil & Air Filters Market: Key Players

Key players operating in the global automotive oil & air filters market are Champion Laboratories, Inc., First Brands Group LLC., MANN+HUMMEL, MAHLE GmbH, Donaldson Company, Inc., Sogefi SpA, Robert Bosch GmbH, K&N Engineering, Inc., Cummins Inc., PARKER HANNIFIN CORP., Ahlstrom-Munksjö, ExxonMobil Corporation, Hengst SE, ACDelco, and DENSO CORPORATION.

Automotive Oil & Air Filters Market: Prominent Regions

Europe is one of the key regions of the global automotive oil & air filters market. This can be ascribed to the presence of a large number of automobile manufacturers across the region. The increase in the number of car registrations is also a key factor propelling the demand for automotive oil & air filters in the region. According to JATO Dynamics Limited, new car registration in Europe increased by 63% in March 2021 compared to that in March 2020. The rise in the demand for electric vehicles (EVs) and SUVs is the major driver of the automobile industry. In Europe, the market share of EVs increased from 9.7% in March 2020 to 16% in March 2021, while that of SUVs rose from 37% in March 2019 to 40% in March 2020, with notable traction in Sweden, Norway, Slovenia, and Hungary.

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Asia Pacific dominated the global automotive oil & air filters market in 2020. This trend is expected to continue during the forecast period, due to increase in demand for automobiles in developing countries, primarily China and India. Strong economic growth, rapid urbanization, increase in demand for movement of goods from one place to another, and improvement in standard of living are some of the key factors boosting the sale of cars and light commercial vehicles in Asia Pacific. Approximately 8.1 million commercial vehicles were sold in Asia Pacific in 2020. China reported a sale of 5.13 million units in 2020, while Australia recorded a sale of 0.24 million units. Thailand sold 0.44 million units in 2020, while Indonesia sold 0.13 million units. Malaysia reported a sale of 48,000 units in 2020.

Automotive Oil & Air Filters Market - Segmentation

TMR's research study assesses the automotive oil & air filters market based on product, application, end use, and region. The report presents extensive market dynamics and progressive trends associated with different segments and how they are influencing growth prospects of the automotive oil & air filters market.

Global Automotive Oil & Air Filters Market: Segmentation

Automotive Oil & Air Filters Market, by Product

Air Filters

Paper Media Air Filters

Foam Media Air Filters

Cleanable Gauge Air Filters

Others

Oil Filters

Cellulose Media Oil Filters

Synthetic Media Oil Filters

Microglass Media Oil Filters

Others

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Automotive Oil & Air Filters Market, by Application

Passenger Cars

Commercial Vehicles

Two Wheelers

Racing Vehicles

Automotive Oil & Air Filters Market: Overview

According to Transparency Market Research's latest research report on the global automotive oil & air filters market for the historical period of 2020 and the forecast period of 2021 to 2031, high replacement rate of filters is expected to boost the global automotive oil & air filters market during the forecast period. The general perception is that the average miles after which an oil filter needs to be changed is 3,000 miles to 5,000 miles, and an air filter needs to be changed at 12,000 miles to 15,000 miles. The average lifespan of a vehicle is much more than 50,000 miles. Therefore, a vehicle might need more than one oil filter and air filter for proper functioning throughout its lifespan.

In terms of revenue, the global automotive oil & air filters market is estimated to exceed US$ 10.33 Bn by 2031, expanding at a CAGR of 3.90% during the forecast period. The replacement rate of various types of automotive oil & air filters varies according to the geographic conditions of the region. For instance, cars running on hilly terrains are likely to generate more demand for oil filters than cars running on plains. However, for most regions, the need for replacement of oil filters is high. This is expected to boost the global automotive oil & air filters market in the near future.

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Stringent Regulations on Vehicle Emission: Determining Driver of Automotive Oil & Air Filters Market

Rise in concerns about the environment, due to emission of harmful gases such as CO2, has led to enactment of stringent air emission norms around the globe. For instance, the EU Regulation No 443/2009 sets an average CO2 emission target for new passenger cars at 130 grams per kilometer. A target of 95 grams per kilometer was set from the year 2021.

Companies operating in the automotive oil & air filters market are anticipated to invest significantly in research & development in order to develop new and technologically advanced filters. This is anticipated to propel the automotive oil & air filters market.

Adherence to the stringent norms enacted by various governments is mandatory for automobile manufacturers. Thus, the usage of filters in automobiles is likely to increase during the forecast period. This is also estimated to boost the global automotive oil & air filters market.

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