Press release
Lubricant Filtration Market Report 2024: Industry Trends, Innovations, and Leading Companies
Lubricant Filtration Market Report
The new report published by The Business Research Company, titled Lubricant Filtration Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the lubricant filtration market size has grown strongly in recent years. It will grow from $30.20 billion in 2023 to $32.21 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The lubricant filtration market size is expected to see strong growth in the next few years. It will grow to $41.38 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
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What Is Driving The Growth Of The Global Lubricant Filtration Market?
Automotive Industry Driving Growth In Filtration Solutions Market
The growing automotive industry is expected to propel the growth of the lubricant filtration market going forward. The automotive industry refers to the sector involved in the design, manufacturing, marketing, and sale of motor vehicles, including cars, trucks, and motorcycles. The automotive industry is expanding due to rising consumer demand, technological advancements in vehicles, and increased investments in electric and autonomous vehicles. Lubricant filtration in the automotive industry ensures optimal engine performance and longevity by removing contaminants from the lubrication system. For instance, in June 2024, according to a report published by Statistics Canada, a Canada-based national statistical organization, in 2022, the total number of registered road motor vehicles in Canada reached 26.3 million, showing a slight increase of 0.3% compared to 2021. Therefore, the growing automotive industry is driving the growth of the lubricant filtration market.
What Is The Key Trend In The Global Lubricant Filtration Market?
Advancements In Lubricant Filtration Technology Enhanced Lubricant Filtration Market
Major companies operating in the lubricant filtration market are focused on developing advanced technological solutions, such as hydraulic and lubrication filtration technology, to enhance performance and address evolving industry requirements. Hydraulic and lubrication filtration technology refers to the methods and equipment used to remove contaminants from hydraulic fluids and lubricants to ensure optimal system performance and longevity. For instance, in April 2023, Todd Technologies Inc. (TTI), a US-based filter breather manufacturer, launched the SmartFlow Media Technology and PowerGuard SmartFlow Filter Element Line to address challenges such as initial pressure drop, varying viscosity, and high temperatures that impact hydraulic and lubrication systems. This new technology is designed to enhance filtration efficiency and extend the lifespan of hydraulic and lubrication fluids.
How Is The Global Lubricant Filtration Market Segmented?
The lubricant filtration market covered in this report is segmented -
1) By Filtration Type: Depth Filtration, Surface Filtration
2) By Filter Media: Cellulose Based Filters, Synthetic Based Filters, Blend Filters
3) By Lubricant Type: Engine Oil Filtration, Hydraulic Oil Filtration, Transmission Fluid Filtration, Other Lubricant Types
4) By Technology: Centrifugal Filtration, Pressure Filtration, Vacuum Filtration
5) By End User: Automotive, Industrial Machinery, Aviation, Marine, Other End Users
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How Is The Competitive Landscape Of The Global Lubricant Filtration Market?
Major companies operating in the lubricant filtration market are Robert Bosch GmbH, Denso Corporation, 3M Company, EATON CORPORATION plc, PARKER-HANNIFIN CORP, DuPont de Nemours Inc, Mann+Hummel GmbH, Alfa Laval AB, Donaldson Company Inc, Ahlstrom-Munksjö, Camfil, Pall Corporation, UFI FILTERS Spa, Hengst SE & Co. KG, Hollingsworth & Vose, Mahle GmbH, Freudenberg Filtration Technologies SE & Co. KG, FRAM Group IP LLC, ACDelco Ltd, Lazada Philippines, ALCO Filters Ltd, Filtrox AG
Contents Of The Global Lubricant Filtration Market
1. Executive Summary
2. Lubricant Filtration Market Report Structure
3. Lubricant Filtration Market Trends And Strategies
4. Lubricant Filtration Market - Macro Economic Scenario
5. Lubricant Filtration Market Size And Growth
…..
27. Lubricant Filtration Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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