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Automotive Filters Market Research Report, 2016 - 2023: Global Market Insights Inc.
Global Automotive Filters Market size was more than $5.1 billion for 2015 and is predicted to be evaluated at more than $9.51 billion by end of 2023 registering CAGR of 8.41% during forecast timeline. Automotive filter helps in extending engine life as it effectively traps debris and dirt that harms internal engine parts like pistons and cylinders. This device helps appropriate air flow to engine, thereby maintaining air-fuel mix. Suitable air flow helps engine to operate perfectly and this minimizes fuel consumption as well as emissions. All these factors has enhanced the demand for these filters and has encouraged automotive filters manufacturers to increase their production.
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Ecological problems caused due to emissions of hazardous gases in traditional vehicles has created requirement to produce ecological friendly substitutes. Electric vehicles sector is predicted to witness high expansion prospects due to rising consumer demand for less functional costs & maintenance costs in comparison to fuel powered automobiles. This is predicted to pose a threat to global automotive filters market expansion during forecast timeline.
Regular substitution is predicted to result in enhanced fuel mileage by about 14.1%. Further, substituting a blocked air filter can increase speed by 6.1% to 11.1% on fuel injected automobiles. In addition to this, this product displays potential ability for gas mileage improvement and helps in minimizing emissions. Capacity to block waste, dirt and pollution from entering into fuel lines along with highly stabilized fuel performance and economy are few of the factors predicted to propel automotive filters market trends.
Increasing innovation along with growing consumer demand for added features has boosted industry growth. Favorable rules and support from agencies like U.S. Environmental Protection Agency (EPA) and CCC (Civilian Conservation Corps) is predicted to affect industry expansion.
Automotive air filters segment is predicted to maintain its domination and expected to register 7.81% CAGR during forecast timeline. Rising health ailments owing to polluted cabin air coupled with increasing consciousness about high quality air is anticipated to propel industry demand. Fuel filters segment is predicted to register CAGR of about 10.51% during forecast timeframe. Rising demand for two wheelers and passenger cars specifically in BRICS nations is predicted to promote the segment growth.
Growing health concerns among world population along with rising rates of pollution is predicted to influence demand and use of these products. Further, rising consciousness about fuel filtration & oil filtration significance for long life span of vehicles are few of the factors driving product demand. In addition to this, new technological breakthroughs and product innovations have made substantial contribution towards the growth of these product segments.
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Two wheelers segment is predicted to register more than 8.51% CAGR during forecast timeline. Expansion of the segment can be credited to its rapidly increasing demand from developing regions like China and India. Significant aftermath of these automobiles in BRICS nations is predicted to boost segment growth.
Passenger cars segment is predicted to contribute more than half of the global automotive filters market share for 2015. Increasing customer disposable income is projected to promote the demand for these cars. In addition to this, growing health disorders owing to inappropriate cabin ventilation is expected to favorably affect segment demand during forecast timeframe.
The industry is segmented into various end user applications like automotive filters aftermarket and Original equipment manufacturer (OEM). Automotive filters aftermarket segment contributed about $ 3.72 billion for 2015 and is predicted to expand by more than 70% by end of forecast period. Rising demand for replacement filters is expected to drive the segment growth and demand.
Original equipment manufacturer (OEM) segment is anticipated to witness substantial development in future. Concerns about deployment of aftermarket product is the key factor driving segment growth. Further, OEM products can provide benefits like annihilation of guarantee issues and potential quality issues while aftermarket deployment helps in increasing efficacy and promotes use of perfect media filtration.
Global automotive filters market is segmented into key geographical regions like North America, Europe, MEA, APAC and Latin America. APAC contributed more than 45.1% of overall revenue and is predicted to register CAGR of more than 9.1% during forecast timeframe. Expansion of automobile sector in nations like Japan, China and India is predicted to promote industry demand.
European industry share is predicted to be more than $2.1 billion by end of 2023. Strict environmental rules are expected to boost regional industry growth. Further, high level of public awareness, rise in OEM product demand and rise in automotive filters market price trends are predicted to stimulate industry growth in the region. U.S. industry is featured by evolving electric automobile demand as these vehicles do not require product substitutes.
Key industry players profiled in the report include Cummins Incorporation, Ahlstrom Corporation, Denso Corporation, Freudenberg & Co. Kg, Hollingsworth & Vose Company Incorporation, Lydall Incorporation, Mann Hummel, Neenah Paper Incorporation, ALCO filters, Robert Bosch GmbH, Metsurama Filtration, Parker Hannifin Corporation, Sogefi S.p.A., Valeo SA, Purofil Auto (India) Private Limited, Viking Filters, Toyota Boshoku Corporation, Dongguan Lvmeng Industrial Company Limited, Clarcor Incorporation, Roki Company Limited, ACDelco Incorporation, Fram/UCI, Donaldson Company Incorporation, Hengst SE & Co. KG, K&N Engineering Incorporation and Mahle GmbH.
Browse Related Reports:
Automotive Aftermarket Size By Vehicle Part (Replacement Parts [Belt, Brake, Clutch, Lighting, Electrical, Engine & AC, Exhaust, Filters, Suspension, Transmission, Wiper], Accessories), By Sales Outlet (Professional [Garages & Service Stations, Automobile Dealerships, Government], DIY, OEM), By Region (U.S., Canada, Germany, UK, Russia, China, India, South Korea, Japan, Indonesia, Thailand, Brazil, Mexico, Argentina, South Africa, GCC), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends & Forecast, 2016 – 2024
https://www.gminsights.com/industry-analysis/automotive-aftermarket
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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