The global automotive filter market is segmented into type such as air filter, oil filter and fuel filter. Among these segments, air filter segment is expected to dominate the overall automotive filter market during the forecast period. Further, oil filter and fuel filters are essential parts in a vehicle but these filters have a limited life. This factor is fuelling the demand for oil and fuel filters in the aftermarket. In addition, rising demand for automobiles is also projected to trigger the growth of automotive filter market in near future.
Global automotive filter market is anticipated to mask a notable CAGR of 8.8% during the forecast period. Further, global automotive filter market is expected to reach USD 10.1 Billion by 2024 from USD 5.6 Billion in 2016. Increasing pollution levels and growing requirement for high efficiency cars are likely to boost the demand for automotive filters during the forecast period. Moreover, continuous increase in the production of passenger vehicles is a key factor which is driving the growth of automotive filters market.
In terms of regional platform, Asia Pacific accounted for the largest market share of 43% in global automotive filter market in 2016. Moreover, emerging economies such as China and India and positive GDP figures are believed to foster the growth of automotive filter market in this region. In 2016, Europe occupied second position in the terms of market share and is anticipated to showcase robust growth in automotive filter market. Countries such as Germany & UK are witnessing the augmented demand for automotive filter. Apart from this, North America automotive filter market is expected to grow at a significant pace due to rise in sales of passenger cars.
Stringent government legislations and guidelines regarding pollution across the globe are projected to foster the growth of automotive filter market. In addition, governmental authorities are implementing scrap incentive schemes which is encouraging customers to purchase new automobiles. Furthermore, strict emission norms to control the carbon emission are anticipated to spur the growth of global automotive filter market.
Wide Scale Demand for Air Filter
Mounting sales of passenger cars and rising disposable income of the consumers is projected to bolster the growth of automotive filter market across the globe. Furthermore, increasing focus of vehicle owners on preventive maintenance is believed to boost the sale of air filter in aftermarket.
In contrast, increasing demand and sale of electric vehicle is believed to dampen the growth of global automotive filter market.
The report titled “Automotive Filter Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global automotive filter market in terms of market segmentation by end use, by type, by vehicle type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global automotive filter market which includes company profiling of Mahle GmbH, Sogefi SpA, MANN+HUMMEL GmbH, A.L. Filter, Donaldson Company, Inc., K&N Engineering, Inc., Fildex Filters Canada Corporation, Filtrak BrandT GmbH, Luman Automotive Systems Pvt. Ltd. and Robert Bosch GmbH. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive filter market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
About Research Nester
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
Contact for more Info:
Email: [email protected]
U.S. Phone: +1 646 586 9123
U.K. Phone: +44 203 608 5919