(MENAFN- PR Newswire)
NEW YORK, July 4, 2024 /PRNewswire/ -- The global
automotive filters market
size is estimated to grow by USD 5.93
billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost
3.95%
during the forecast period. Increasing demand for road transportation
is driving market growth,
with a trend towards
rising demand for multilayer filtration systems. However,
rising demand for evs
poses a challenge. Key market players include A. Kayser Automotive Systems GmbH, Ahlstrom Holding 3 Oy, ALCO Filters Ltd., Cummins Inc., DENSO Corp., Donaldson Co. Inc., ELOFIC INDUSTRIES Ltd., First Brands Group, Ford Motor Co., Hengst SE, MAHLE GmbH, MANN HUMMEL International GmbH and Co. KG, Parker Hannifin Corp., Purofil Auto India Pvt Ltd, Robert Bosch GmbH, Sogefi Spa, Toyota Motor Corp., UFI filters SPA, Valeo SA, and Zenith Auto Industries Pvt. Ltd..
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Technavio has announced its latest market research report titled Global automotive filters market 2024-2028
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| Automotive Filters Market Scope |
| Report Coverage |
Details |
| Base year |
2023 |
| Historic period |
2018 - 2022 |
| Forecast period |
2024-2028 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 3.95% |
| Market growth 2024-2028 |
USD 5932.1 million |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
3.74 |
| Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
| Performing market contribution |
APAC at 61% |
| Key countries |
China, US, India, Germany, and UK |
| Key companies profiled |
A. Kayser Automotive Systems GmbH, Ahlstrom Holding 3 Oy, ALCO Filters Ltd., Cummins Inc., DENSO Corp., Donaldson Co. Inc., ELOFIC INDUSTRIES Ltd., First Brands Group, Ford Motor Co., Hengst SE, MAHLE GmbH, MANN HUMMEL International GmbH and Co. KG, Parker Hannifin Corp., Purofil Auto India Pvt Ltd, Robert Bosch GmbH, Sogefi Spa, Toyota Motor Corp., UFI filters SPA, Valeo SA, and Zenith Auto Industries Pvt. Ltd. |
Market Driver
Automotive filters are essential for maintaining vehicle components by preventing contaminants from entering engines, transmissions, and cabins. Multilayer filters, with multiple filtration stages, offer superior protection and extended filter life, reducing maintenance costs for owners. These filters improve engine performance and fuel efficiency by ensuring cleaner air and fluids, and contribute to environmental sustainability by reducing harmful emissions. Advanced technologies, like sensor systems, enable predictive maintenance and improve market growth.
The Automotive Filters market is experiencing significant growth due to the increasing demand for cleaner and more efficient engines. Filters for air, fuel, oil, and cabin are in high demand. Heavy duty vehicles and commercial applications require specialized filters for durability and performance. Carbon active filters and vegetable oil based filters are trending for their eco-friendly properties. Electrostatic filters and nanofiber filters offer enhanced filtration capabilities. The market is competitive with key players focusing on innovation and cost-effectiveness. The future looks bright for this sector as regulations on emissions continue to tighten.
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Market
Challenges
.
The automotive filters market is anticipated to experience a decline due to the rising popularity of electric vehicles (EVs). Key factors driving the shift towards EVs include government subsidies, decreasing battery prices, and the introduction of cost-effective EV variants. This trend is particularly noticeable in major markets like China, the US, Japan, Norway, and Germany. The IEA reports that EVs accounted for 18% of new car sales in 2023. Although conventional vehicles still dominate sales, the demand for EVs is projected to grow further due to supportive government policies. Consequently, the demand for automotive filters, which are essential for fuel-powered vehicles, is expected to decrease.
.
The Automotive Filters market faces several challenges. The use of advanced technologies like NOx and SCR systems in vehicles necessitates the development of more efficient and effective filters. The need for longer filter life and reduced maintenance costs is another challenge. The increasing demand for fuel-efficient vehicles and stringent emission norms add to the complexity. Additionally, the cost of raw materials and the availability of high-quality filters pose significant challenges. Electrostatic filters, activated carbon filters, and cellulose filters are commonly used, but continuous research is required to meet the evolving needs of the industry. The future lies in filters that can effectively remove pollutants while ensuring optimal engine performance and fuel efficiency.
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Segment Overview
This automotive filters market report extensively covers market segmentation by
Type
1.1 Air filters
1.2 Oil filters
1.3 Fuel filters
Distribution Channel
Geography
3.1 APAC
3.2 North America
3.3 Europe
3.4 South America
3.5 Middle East and Africa
1.1
Air filters-
The automotive filters market is experiencing robust growth due to the increasing demand for automobiles, particularly passenger cars. Engine air filters enhance engine performance by circulating clean air, while cabin air filters purify air inside vehicles. Emerging markets, such as India and China, exhibit high demand for commercial vehicles, leading to increased adoption of cabin air filters. Government regulations and growing awareness of air pollution are key drivers. Major vendors are expanding in emerging economies to reduce costs and tap into new markets.
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Research Analysis
The Automotive Filters Market encompasses various filtration media types, including Synthetic media, Electrostatic material, and others. These filters play a crucial role in Heavy duty engines powering Heavy trucks, as well as in Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs). EMI/EMC filters, Dryer cartridges, Electrostatic filters, Air filters, Oil filters, Fuel filters, and Coolant filters are essential components. With increasing Greenhouse emission standards, the focus on Particle filters, Catalytic converters, and improved Fuel efficiency is paramount. Novel filter materials are being explored to enhance Engine efficiency, Vehicle longevity, and contribute to Sustainability and Fuel economy in the Automobile sector. Emission regulations continue to evolve, driving the need for advanced filtration technologies.
Market Research Overview
The Automotive Filters Market encompasses a wide range of products designed to enhance the performance and longevity of vehicles. These filters, including air, cabin, fuel, and oil filters, play a crucial role in maintaining engine efficiency and ensuring the comfort of vehicle occupants. The market for automotive filters is driven by factors such as increasing vehicle production, growing awareness of vehicle maintenance, and stringent emission norms. Additionally, advancements in filter technology, such as the use of nanofibers and activated carbon, are expected to fuel market growth. The market for automotive filters is a significant and growing sector within the automotive industry.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Type
Air Filters
Oil Filters
Fuel Filters
Distribution Channel
Geography
APAC
North America
Europe
South America
Middle East And Africa
7
Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:
[email protected]
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SOURCE Technavio
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