Automotive Filter Market Expectations Acme Prominent Development in Developed Regions, details FactM
The global automotive filter market to register steady CAGR during the forecast period 2017 to 2022.
[ClickPress, Fri Aug 16 2019] In order to dissert the market scenario prevailing across the automotive filter market sector, FactMR has evenly presented a comprehensive analysis report on automotive filter market to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the automotive filter market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.
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Filters are an integral part of the automotive engines. Automotive filters help to maintain the quality life of vehicles, enhancing efficiencies and providing cleaner air for customers to breathe in. Regulations pertaining to safety of environment, and emission standards provided by regulatory bodies are becoming more severe, which in turn has compelled automobile manufacturers in integrating filters in cars and bicycles. Automotive filters are devices composed of filtering materials that remove impurities in engine fluids, and also prevent the entry of contaminants. Based on their functions, a basic categorization of automotive filters includes oil filters, fuel filters and air filters. Fibrous weave, synthetic mesh and semi-permeable membranes are some of the common filtering materials used in production of automotive filters.
Increasing purchasing power of people across the globe, and rapidly expanding automotive industry are expected to boost demand for automobiles, and thereby automotive filters. In addition, increasing adoption of two-wheelers, and soaring sales of passenger cars are other factors influencing growth of the global automotive filter market. A latest report by FactMR projects the global automotive filter market to register steady CAGR during the forecast period 2017 to 2022. In terms of revenues, the market is estimated to reach nearly US$ 15,000 Mn in 2017; by 2022 this number is anticipated to surpass US$ 18,000 Mn.
Cabin Air Filter to Remain Sought-After in the Market
Based on product type, cabin air filter are expected to remain sought-after in the global automotive filter market. Demand for cabin air filters is mainly driven by surging requirement for high efficiency cars, and growing pollution levels across the globe, particularly in urban areas. Sales of cabin air filters are expected to register the highest CAGR in the market during the forecast period. In contrast, sales of oil filter are expected to register the lowest CAGR through 2022. In addition, intake air filters will remain the second most lucrative product in the global automotive filter market.
Synthetic automotive filters will remain preferred among filter media in the market. Sales of synthetic automotive filters are expected to register an above-average CAGR, to surpass US$ 10,000 Mn in revenues by 2022-end. Revenue from synthetic automotive filters are expected to account for nearly three-fourth share of the market in 2017. Demand for cellulose automotive filters will remain sluggish in the market throughout the forecast period.
Sales of Automotive Filters to Remain Highest in Passenger Cars
Adoption of passenger cars across the globe is witnessing a rapid growth, which in turn has fuelled the demand for automotive filters. High replacement rate of filters owing to the necessity for maintenance of passenger cars will further drive growth of the market. Sales of automotive filters in passenger cars will account for the largest revenues, registering the fastest expansion through 2022. LCVs will continue to be the second most lucrative vehicles for sales of automotive filters. Demand for automotive filters in off-road vehicles and lawn mowers are expected to register the lowest CAGR through 2022.
IAM will continue to be the largest sales channel for automotive filters, with sales estimated to register an impressive expansion through 2022. Sales of automotive filters in IAM are expected to surpass US$ 10,000 Mn by 2022-end. OES will remain the second largest sales channel for automotive filters. Sales of automotive filters in OEM will witness sluggish expansion throughout the forecast period.
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Key players in the global automotive filters market include Mann + Hummel GmbH, Cummins, Inc., Parker Hannifin Corporation, K&N Engineering, Inc., Toyota Boshoku Corporation, Donaldson Company, Inc., Hollingsworth and Vose Company, ALCO Filters Ltd., MAHLE GmbH, Denso Corporation, and Roki Co., Ltd.
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