(MENAFN- GetNews) Global Automotive Filters Market Research Report: Information by Type (Fuel Filter, Air Filter, Oil Filter and Emission Filter), Sales (OEM, IAM, OES, Aftermarket), Application (Passenger Vehicle (PV), LCV, HCV,2-wheeler) and Region - Forecast till 2023
Automotive Filters Market Analysis
The global automotive filters market is predicted to have a healthy growth at 4.96% CAGR over the assessment period (2018-2023). Driving kicks up potentially dangerous and irritating airborne particles. It can harm- the car's occupants and the engine too. With regards to liquids, the oil contains impurities that damage the engine over time, and the organic materials present in the fuel can also prove harmful. The job to keep everything running clean is that of an automotive filter. The engine filter will help to filter the impurities in the air if any which the engine takes in for combustion. The cabin air filter functions as an engine air filter which catches pollen or dust particles which floats in the air. This filter, in turn, prevents such irritating and harmful particles against entering the cabin. The fuel filter possesses two distinct functions. Resting on the fuel type used, diesel or petroleum, this filter will function differently. Though both aids in the engine's overall life-span and performance, the diesel engine is utilized for preventing corrosion on any part that is inside the engine through water removal which builds up. As the engine oil helps in keeping the engine cool and help it work effortlessly, it is vital in removing the shavings, which is the task of the oil filter.
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There are ample factors that are boosting the growth of the automotive filters market. These factors in accordance to the Market Research Future (MRFR) report include government regulations for environmental safety, emission standards laid down by regulatory bodies, burgeoning demand for vehicles especially in emerging economies, technological advancement in the automotive filter, growing demand for battery electric vehicle and increasing health concerns among consumers. On the contrary, the adoption of electric cars, counterfeiting in aftermarket and unavailability of original products are factors that may hamper automotive filters market growth.
Key Players
Leading players profiled in the automotive filters market include Robert Bosch GmbH (Germany), Lydall Inc (Japan), ALCO filters (Germany), Toyota Boshoku Corporation (Japan), Mann+Hummel,Mahle GmbH (Germany), Clarcor Inc (Germany), Cummins Inc (US), ACDelco Inc (US), Denso Corporation (Japan), , Donaldson Company Inc (US), Hollingsworth & Vose Co. Inc (US) and others.
May 2019- Denso Corp, leading Japanese automotive supplier will soon build a plant in Nasha District of Guangzhou that will expand its capacity and lay emphasis to design new products to develop intelligent network vehicles and new energy vehicles. The plant will comprise of distribution center, warehousing, quality monitoring center, and auto parts manufacturing workshops for producing auto electronic components post completion. Denso is mainly engaged in producing and managing automotive filters, engine control systems, equipment, molds, chassis control systems, and horns.
Market Segmentation
Market Research Future report offers a wide segmental analysis of the automotive filters market on the basis of type, application, and sales channel.
Based on type, the automotive filters market is segmented into fuel filter, air filter, oil filter, and emission filter. Of these, air and fuel filter will have the largest share in the market over the assessment period.
Based on the sales channel, the automotive filters market is segmented into aftermarket, OEM, OES, and IAM. Of these, the aftermarket will domineer the market over the assessment period.
Based on application, the automotive filters market is segmented into passenger vehicle, light commercial vehicle, heavy commercial vehicle, and two-wheeler. Of these, the passenger vehicle will lead the market over the assessment period.
Regional Analysis
By region, the automotive filters market covers growth opportunities and latest trends across Rest of the World, Asia Pacific, Europe, and North America. Of these, Asia Pacific will command the market over the assessment period. This is owing to lower labor cost, burgeoning demand for cars, and improved infrastructure. Canada and the United States are the chief contributors here owing to growing awareness concerning emission control coupled with higher sales of automobiles. Government regulations in Europe are getting stricter each year. This indicates that manufacturers must know the regulatory need well.
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