(MENAFN- EIN Presswire) PORTLAND, ORAGON, UNITED STATES, August 4, 2022 /EINPresswire.com / -- An automotive filter helps the engine of a vehicle to operate in a smooth manner, thus extending the service of the vehicle. The key function of the filter is to block solid dirt particles such as dust, pollens, and other unwanted air particles from entering into the carburetor and engine. This minimizes the air pollutants emitted by vehicles, reduces the maintenance cost, and improves the vehicle life. The government has laid stringent emission laws for the vehicles, which emit hazardous gases such as hydrocarbons (HC), nitrogen oxide (NOx), carbon monoxide (CO), and others. For instance, the Environmental Protection Agency (EPA) in the U.S. has amended standards such as national program for greenhouse gas emissions (GHG) and fuel economy standards for light-duty vehicles (passenger cars and trucks).
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Key Market Players
Robert Bosch GmbH
MANN+HUMMEL International GmbH & Co. KG
General Motors Company (ACDelco, Inc.)
K&N Engineering, Inc
Toyota Boshoku Corporation
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According to a recent report published by Allied Market Research, titled, Automotive Filter Market by Filter Type, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2017-2024, the global automotive filter market was valued at $22,024.8 million in 2017, and is projected to reach at $28,791.0 million by 2024, growing at a CAGR of 3.9% from 2018 to 2024.
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At present, Asia-Pacific dominates this market. In 2017, China registered the highest growth in Asia-Pacific. Similarly, the UK led the overall market in Europe in 2017. In the same year, the U.S. dominated the North American market.
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The growth of the automotive filter market is driven by regulations laid by government for environmental safety as well as emission standards put forth by regulatory bodies. However, adoption of electric vehicle hampers the growth of the automotive filter market. On the contrary, increase in demand for vehicles in the emerging economies is expected to provide lucrative opportunities for this market.
In 2017, based on filter type, the engine oil filter was the dominant segment in 2017, in terms of revenue, and is anticipated to continue this trend during the forecast period. However, based on application, passenger car dominated the global market in the same year. By distribution channel, aftermarket segment accounted for the majority market share of the automotive filter market.
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