Oil Filter Industry Size Worth US$ 4.4 Billion by 2027 | Growth Rate (CAGR) of 5.8%%

According to the latest report by IMARC Group, titled "Oil Filter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", estimates that the global oil filter market was worth US$ 3.2 Billion in 2021. The report further anticipates the market to reach US$ 4.4 Billion by 2027, at a projected CAGR of 5.8% over the forecast period.

Industry Analysis:

Oil filter is a device which is specifically designed for eliminating foreign particles and impurities from different types of automotive oils such as transmission, engine, hydraulic and lubricating oil. In case the oil is left unfiltered for a longer period of time, it can get saturated and damage the bearing surfaces of the engine. Oil filters eliminate dirt and sludge which enables the engine to function smoothly while reducing emissions as well as decreasing the annual consumption of fuel. In addition to this, these filters help in monitoring the pressure and cooling the oil, leave no oil residue and are easy to replace.

Download a free sample report to get a detailed overview of the report: https://www.imarcgroup.com/oil-filter-market/requestsample 

Market Drivers/Constraints:

There has been a significant rise in the production of commercial vehicles owing to an upsurge in construction activities in the urban areas. This is one of the major factors which has been driving the growth of the market.
Governments of numerous nations have introduced various regulations to limit the rising amount of greenhouse gases and pollutants generated by automobiles. This has, in turn, contributed towards an augmented demand for oil filters across the globe.
Some of the factors which have been positively influencing the market growth include flourishing automotive industry as well as the development of sophisticated engine designs and clean fuel levels in oil filters by various manufacturers.
There has been a rapid rise in the demand for electric vehicles across the globe which is considered to be one of the major factors impeding the growth of the global oil filter market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global oil filter market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on end-use and fuel type.

Based On End-Use:

Passenger Cars
Commercial Vehicles
Two-Wheelers
Others

Based On Fuel Type:

Gasoline
Diesel

Region:

Asia Pacific
North America
Europe
Middle East and Africa
Latin America

Competitive Landscape:

Ahlstrom
CLARCOR Inc.
DENSO
MAHLE
MANN+HUMMEL

Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://bit.ly/3aPjjuz

Key highlights of the report:                                                    

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.