Automotive Filters Market Worldwide & Regional Industry Size, Trends, Analysis, Statistics & Forecast 2030
Automotive Filters Industry Insights
The "Global Automotive
Filters Market Analysis to Forecast Period" is a
focused and in-depth study of the automotive and transportation industry with
the global market trend analysis. Market Research Future’s report on the global
Automotive Filters market 2020 puts light from an overview. It states that in
the past years, the market has seen remarkable growth, but now it can
anticipate witness more and more expansion with the CAGR of ~4.96% throughout
the years from (forecast period).
Top Market Contenders
The top industry contenders operating in the global
automotive filters market are adopting strategies such as acquisitions,
mergers, collaborations, and launches to enhance their existing offerings and
expansion of their portfolio. Those leading vital players are ALCO filters
(Germany), Lydall Inc. (Japan), Robert Bosch GmbH (Germany), Mahle GmbH
(Germany), Toyota Boshoku Corporation (Japan), Clarcor Inc. (Germany),
Mann+Hummel, Cummins Inc. (U.S.), ACDelco Inc. (U.S.), Hollingsworth
& Vose Co. Inc. (U.S.), Denso Corporation (Japan), Donaldson Company Inc
(U.S.).
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Top Impacting Factors
Fuel efficiencies and emissions of automobiles have remained
a huge topic of concern for the automotive industry worldwide for decades, and
therefore colossal emphasis has been laid in these areas. Similarly, automotive
filters are the components that augment fuel consumptions and also aid in
justifying the vehicular emissions from automobiles. The growing automotive
production around the world is estimated to boost the automotive filters market
rapidly for future timeframe.
Besides, stringent emission norms laid by various automotive
regulatory bodies across the world are also counted among the major factors
driving the automotive filters market. As per Automotive Aftermarket Suppliers
Association (AASA), as a result of service parts counterfeiters in the year
2015, the market incurred a loss of around USD 12 billion in every year and USD
3 billion of which is approximate to be for the U.S. market merely, MRFR
founded in its recent study.
With this, a considerable shift in consumer preference
towards diesel cars for fuel efficiency and necessity to reduce pollutant
emission levels is yet another major factor shaping automotive filters market
dynamics. To add-on more, the surged diesel passenger cars, and commercial
vehicles usage across the globe may also lead to the high pollution level.
Henceforth, automobile manufacturers are investing hugely in new product
development to meet technical requirements of the upgraded emission norms, and
thus resulting in initiating growth aspects in the global automotive filters
market.
In spite of beneficiary factors, the growing popularity of
electric vehicles in recent times is being taken as one of the foremost hindrances
to the adoption of the automotive filters and expansion of its market. Other
than this, counterfeiting of products is simultaneously becoming a significant
challenge for manufacturers, along with unavailability of original products.
All these factors have an immense chance to hamper the growth of the market
throughout the forecast period.
Segmentation of Market: Automotive Filters
From the viewpoint of segmental analysis, the global
automotive filters market is studied among the segments of sales channel, type,
and application.
Among the type segment, the market is segregated into air
filter, fuel filter, emission filter, and oil filter.
Among the sales channel segment, the market has included
OES, OEM, aftermarket, and IAM.
Among the application segment, the market is segmented into
light commercial vehicles, passenger vehicles, heavy commercial vehicle as well
as a two-wheeler.
Regional Framework
From the geographical point of view, the global automotive
filters market study has been conducted across the main regions of Europe, Asia
Pacific, North America, and the Rest of the World.
The Asia Pacific automotive filters market will witness
considerable growth at over 6.5% CAGR throughout the forecast period owing to
the mounting disposable incomes, increase in passenger car sales, and rapid
industrialization. The high automotive output from countries such as India and
China will create improved replacement demand in the coming years. In fact,
favorable FDI policies on aftermarket parts manufacturing and government
regulations also focus on plummeting the carbon emissions will generate notable
gains up to the year 2023.
To add with this, key manufacturers are also focusing on
developing niche products and capacity expansions owing to strong demand for low-cost
aftermarket products in the APAC region. In a case of point, back in December
2018, Donaldson Filtration Solution announced the expansion of
its Wuxi manufacturing plant in China. In such a development, the company
increased its air filter manufacturing capacity and setup of first Chinese
based liquid filtration production capacity.
Continue.......
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