Press release
Revving Up Demand for Automotive Filters is Anticipated to Achieve USD 27.75 billion Growth by 2033
Automotive Filters Market 2023-2033
The global automotive filters market is projected to grow from USD 14.96 billion in 2022 to USD 27.75 billion by 2033, at a CAGR of 5.8% for the same period. The growth of the automotive filters market is being driven by a number of factors, including the increasing stringency of vehicle emission & fuel economy regulations, the development of advanced filtration media, and the growing demand for passenger cars and commercial vehicles in emerging economies.
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Automotive filters play a crucial role in maintaining the efficiency and longevity of automotive engines and systems by removing contaminants from fluids and air. These filters are essential components in vehicles, ensuring clean air intake, clean fuel supply, and proper lubrication. This research report provides a comprehensive analysis of the automotive filters market, including market trends, growth factors, challenges, and future prospects.
Key Players
The key players in the automotive filters market include
• Mahle GmbH
• Donaldson Company Inc.
• Robert Bosch GmbH
• FRAM Group IP LLC
• Sogefi S.p.A
• Mann+Hummel GmbH
• Alco Filter Ltd.
• Ahlstrom Corporation
• Airmatic Filterbau GmbH
• Denso Corportaion
• Cummins Inc.
• EuroGIELLE S.r.l
• Freudenberg & Co. KG and more
These companies have a strong presence in the market and offer a wide range of automotive filters.
Market Trends
The following are some of the key trends in the automotive filters market:
• Increasing stringency of vehicle emission & fuel economy regulations
• Development of advanced filtration media
• Growing demand for passenger cars and commercial vehicles in emerging economies
• Increasing adoption of electric vehicles
Market Challenges
The following are some of the key challenges in the automotive filters market:
• High cost of automotive filters
• Short product life cycle
• Competition from low-cost substitutes
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Market Opportunities
The following are some of the key opportunities in the automotive filters market:
• Growing demand for high-performance automotive filters
• Increasing focus on environmental protection
• Development of new applications for automotive filters
Market Segmentations
The automotive filters market is segmented by type, application, vehicle type, and region.
By type, the market is segmented into air filters, oil filters, fuel filters, and cabin air filters. Air filters are the largest segment of the market, accounting for a share of over 40% in 2022. This is due to the increasing demand for air filters to improve engine performance and fuel efficiency.
By application, the market is segmented into passenger cars and commercial vehicles. Passenger cars are the largest segment of the market, accounting for a share of over 60% in 2022. This is due to the increasing number of passenger cars being manufactured and sold in emerging economies.
By region, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is the largest market for automotive filters, accounting for a share of over 35% in 2022. This is due to the growing demand for passenger cars and commercial vehicles in the region.
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Recent Developments
• Mann+Hummel announced in 2023 that it had acquired Donaldson's global air filtration business for $2.4 billion. This acquisition will strengthen Mann+Hummel's position in the global air filtration market.
• Mahle GmbH announced in 2022 that it had launched a new line of fuel filters for gasoline and diesel engines. These filters are designed to meet the latest emission & fuel economy regulations.
• Donaldson Company, Inc. announced in 2021 that it had opened a new manufacturing plant in China. This plant will help Donaldson to meet the growing demand for automotive filters in the Chinese market.
• Robert Bosch GmbH announced in 2020 that it had developed a new type of oil filter that is more efficient and durable. This filter is designed to improve engine performance and fuel economy.
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About PMR - Automotive and Transportation
The Automotive and Transportation division of PMR provides exclusive coverage and actionable insights about the automotive and transportation industry encompassing the automotive, aviation, shipping and marine, and railway sectors. Market findings and competition intelligence of OEM, aftermarket, services, and technology landscape have helped numerous industry stakeholders' right from automakers, component manufacturers, channel partners, and service providers in taking informed decisions and keeping them up-to-date with market behavior.
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