Car Oil Filter Market to Experience Significant Growth during the Forecast Period, 2017-2022

Published: Wed Sep 04 2019

The purpose of this comprehensive forecast report presented by Fact.MR is to elaborate the various market projections impacting the global car oil filter market size during the period through 2017-2022. This assessment delivers high-end statistics concerning market size, growth in trends and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about market growth trends along with upcoming opportunities that are expected to reshape the overall structure of the car oil filter market during the forecast period.

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Global car oil filter market is driven by many factors. The rising automotive industry is a prime aspect which drives the growth of the car oil filter market. Certain government regulations regarding the manufacturing of vehicles has forced the manufacturers to implement improvements in the design aspect of the engine and along with the technological changes and advancements in the oil filter domain, this has imparted support to the growth of the car oil filter market. As far as vehicles are concerned, the increase in the passenger cars has triggered the growth of the car oil filters. Moreover, public awareness regarding the safety of the engines of their vehicles and the benefits of oil filters such as removal of contaminants, ensuring good engine health and enhance the life of the components within the engine has spurred the growth of the global car oil filter market. However, the challenge faced by this sector is the introduction of the electric cars which do not need oil filters. Another challenge cum opportunity is the life of the filter. It has low life and has to be replaced but the opportunity aspect is that it needs to be changed frequently and this can be beneficial to the manufacturers of the filters. Europe region shows great potential and market share by 2022 end. The Asia-Pacific excluding Japan (APEJ) region shows higher growth rate during the period of forecast.

The global car oil filter market is thriving on many facts which make them essential and are driving the growth of the global market. The growing automotive industry is one of the primary reasons impacting the global car oil filter market indirectly. The more the number of vehicles manufactured, the more the number of oil filters required. Strict government regulations have compelled the manufacturers to design efficient engines, and the technological advancements in the oil filter sector has aided the growth of the global oil filter market. Among the vehicles types, the rising number of passenger cars has lifted the oil filter market spurring its growth tremendously. However, the introduction of electric vehicles can be a restraint to the global car oil filter market. But the threat from this restraint can reduce as the commercial vehicle sector needs diesel and hence the need for oil filters in these vehicles. Another challenge cum benefit would be the life of the filter. The challenge part is that one needs to keep track and change the oil filters as it has low life, but the benefit side of this would be the increased global consumption of oil filters in cars owing to less life. The Europe region is expected to dominate the global car oil filter market.

An oil filter, as per the name, is a vehicle component used to maintain the oil quality in the vehicle. The main function of the oil filter is to separate the contaminants from the oil and filter them out keeping the oil unadulterated and safe. This enhances the quality of oil and life and ensures smooth vehicle operation. More importantly, a safe pure oil ensures good health of the engine, as the pistons work on the oil level inside and if oil gets contaminated, the contaminants can enter the pistons harming the engine. Hence, the need for oil filters is increasing to ensure safety of the engine and the vehicle in general. Mechanical, magnetic, sedimentation, centrifugal, high efficiency are few types of oil filters.

Europe is poised to reflect a higher market share by revenue and dominate the global market. It is anticipated to grow at a moderate growth rate. The Asia-Pacific excluding Japan (APEJ) region is expected to grow at the highest rate followed by North America region owing to increase in the consumption of passenger cars in these regions. APEJ is anticipated to register a CAGR of 3.5% throughout the forecast period of 2017 to 2022.

IAM Segment Registers a Higher Market Share by Revenue

The IAM segment by sales channel is expected to grow at a higher pace during the forecast period and reflects a higher market share by revenue of about 54% as compared to other channels. The OEM segment and OES segment reflect a dull growth rate and supposed to experience a loss in the BPS by the end of 2022, while the IAM segment is anticipated to gain a higher BPS by 2022-end.

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Competition Tracking

The report also profiles companies that are expected to remain active in the expansion of the global car oil filter market through 2022, which include MAHLE GmbH, Robert Bosch GmbH, Denso Corporation, Donaldson Company Inc., Mann Hummel GmbH, Sogefi SpA., Hollingsworth and Vose Company, K&N Engineering Inc., Ahlstrom Corporation, Alco Filters ltd., Cummins Inc., Hengst SE and Co. KG, Freudenberg & Co. KG, UFI Filters SpA and Champion Laboratories Inc.

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