The “Automotive Filters Market to 2027 – Global Analysis and Forecasts by Type; Vehicle Type” report has been added to ResearchAndMarkets.com’s offering.
The automotive filters market was valued at US$ 3570.0 million in 2018 and is expected to grow at a CAGR of 5.0% from 2019 to 2027 to reach US$ 5383.8 million by 2027.
Automotive filters are majorly used to remove air pollutants and dust particles to improve the vehicle performance by reducing fuel consumption and resulting in high power output. These filters support in increasing the air flow and lessen the engine damage, which, in turn, increases the efficiency of the vehicle. Also, high gasoline prices are anticipated to shift manufacturers’ emphasis on reduced fuel consumption. All modern vehicles, such as passenger cars, light commercial vehicles, and heavy commercial vehicles, are equipped with different filters for high power output and increase vehicle efficiency. The automotive filters market comprises many regional, international, and local players. The regional and local vendors in the market offer cost-effective filters with advanced functionalities and features. A few key vendors are also expanding their customer base and are increasingly investing huge amount in R&D activities. Thus, the competitive environment in the market is expected to increase owing to government regulations and advancements in technology.
The global automotive filters market is anticipated to witness impressive growth during the forecast period. The increasing sales of premium and luxury car owing to rising disposable income is the major driving factor for the global automotive filters market. In addition, the rising number of stringent regulations and compliance requirements are expected to drive its demand. However, the accentuating battery electric vehicle (BEV) manufacturing may restrain the market growth. Despite of this limitation, the increase in production of heavy commercial vehicles in North America and Asia is expected to offer ample growth opportunities for the players operating in the automotive filters market during the forecast period of 2019 to 2027.
The market for automotive filters has been segmented into type, vehicle type, and geography. Based on type, the market is further segmented into fuel filter, engine oil filter, engine air filter, cabin air filter, coolant filter, and steering oil filter. Engine air filter segment represented the largest share of the overall market during the forecast period. Based on vehicle type, the automotive filters market is further segmented into passenger cars, light commercial vehicle, and heavy commercial vehicle. In 2018, passenger cars vehicle type held a substantial share in the global automotive filters market, followed by light commercial vehicle type. Geographically, the market is segmented into five major regions – North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM).
The key players operating in the global automotive filters market that are profiled in this market study include A.L. Filter; ACDelco Inc.; Denso Corporation; Donaldson Company, Inc.; Freudenberg Filtration Technologies SE & Co. KG; K&N Engineering, Inc.; MANN+HUMMEL GMBH; North American Filter Corporation; Robert Bosch GmbH; and Sogefi SPA.
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Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global automotive filters market.
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Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20200826005633/en/
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