Automotive Filter Market
By Type (Air Filter, Fuel Filter, Oil Filter) By End Use (Original Equipment
Manufacturer (OEM), Aftermarket) By Vehicle Type (Passenger Vehicles,
Commercial Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles) and
Region - Global Forecast to 2024
Automotive
filter remove the solid matters such as dust, mould and pollen from the fuel
and gas. Automotive filters help the engine to run smoothly and ensure that
there is adequate air flow to the engine which further lessens the fuel
consumption and carbon emission. High research & development and
collaboration between companies have been seen as an emerging trend across the
global automotive filter market.
Market Size and Forecast
The market
of automotive filter is anticipated to grow at a CAGR of 8.8% over the forecast
period 2017-2024. Further, global
automotive filter market is expected to reach USD 10.1 Billion by 2024 from USD
5.6 Billion in 2016. This can be attributed to various factors such as increasing
number of automobiles on road, burgeoning middle class population and rising
concerns about environment.
Regionally,
Asia-Pacific holds the largest market share of automotive filter market
accounting for more than 43% and is likely to continue its dominance over the
forecast period. Further, Asia-Pacific is anticipated to expand at a CAGR of
9.1% during the forecast period 2017-2024. This significant growth can be
attributed to expansion of automotive industry in the region. Further, growing
economies such as China and India are anticipated to witness the augmented
demand for automotive filters on the back of increasing sale of automotive in
the nations. Europe occupies second position in the terms of market share and
is anticipated to foresee growth in automotive filter market. Further, Europe
automotive filter market is expected to garner about USD 1.8 Billion by 2024.
In Europe, government regulation on carbon emissions is expected to drive the
market of automotive filter market within the region over the forecast period.
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On the
basis of type, the automotive filter market is segmented into air filter, fuel
filter and oil filter. Air filter accounts for the highest percentage of market
share accounting for more than 75%. Stringent government regulations to curb
carbon emission and greenhouse gases are major factor driving the growth of the
air filter segment. Further, air filters reduce the fuel consumption by
providing proper air flow to the engine.
Market Segmentation
Our
in-depth analysis segmented the global automotive filter market in the
following segments:
By Type
Air Filter
Fuel
Filter
Oil Filter
By End Use
Original
Equipment Manufacturer (OEM)
Aftermarket
By Vehicle
Type
Passenger
Vehicles
Commercial
Vehicles
Light
Commercial Vehicles
Heavy
Commercial Vehicles
By Region
Global
automotive filter market is further classified on the basis of region as
follows:
North
America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity
Analysis
Latin
America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth &
Opportunity Analysis
Europe
(U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands &
Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity
Analysis
Asia-Pacific
(China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market
size, Y-O-Y growth & Opportunity Analysis
Middle
East and Africa (GCC, North Africa, South Africa & Rest of Middle East and
Africa) Market Size and Y-O-Y Growth Analysis
Growth Drivers and Challenges
Increasing
demand and sale of automotive is anticipated to be the key factor behind the
growth of automotive filter market. Further, rising disposable income impelled
the purchasing power to demand for more cars. On the other hand, elevated
replacement rate of automotive filter due to tear and wear is further expected
to boost the growth of automotive filter market.
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Strict
government regulation to curb the carbon emission is expected to spur the
growth of global automotive filter market. Government of developed countries
such as UK, U.S., Germany and others has enforced strict laws to reduce the
pollution caused by vehicle. For instance, in U.S., the environment protection
agency has implemented the mandatory average fuel economy of 42mpg for cars and
26mpg for trucks. Similar regulations have been implemented by other developed
countries across the globe. This factor is likely to boost the market of
automotive filter.
In
contrast, increasing demand and sale of electric vehicle is the major factor
restraining the growth of global automotive filter market.
Key players
Robert
Bosch GmbH
Company
Overview
Key
Product Offerings
Business
Strategy
SWOT
Analysis
Financials
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.
Scope and
Context
Overview
of the Parent Market
Analyst
View
Segmentation
The global
automotive filter market is segmented as follows:
By Type
Market Size & Y-O-Y Growth Analysis
By End Use
Market Size & Y-O-Y Growth Analysis
By Vehicle
Type Market Size & Y-O-Y Growth Analysis
By Region
Market Size & Y-O-Y Growth Analysis
Market
Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
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