New York, March 02, 2023 (GLOBE NEWSWIRE) -- Motorcycle filter market has been estimated to be valued at US$ 3.53 Billion in 2022 and is further estimated to grow with CAGR of magnitude 4.9% to reach a market revenue of close to US$ 6.11 Billion by the end of 2033. The growth of the Motorcycle Filter Market can be attributed to various factors such as an increase in the production of motorcycles, an increase in the demand for fuel-efficient motorcycles, and stringent regulations for emission control.
The motorcycle filters market is an essential part of the motorcycle industry, as it contributes to the overall performance and longevity of motorcycles. Motorcycle filters play a critical role in maintaining the engine health and overall performance of the motorcycle by filtering out contaminants and preventing them from entering the engine.
Motorcycle filter market growth is being driven by rising sales of motorcycles globally and advancements in filter technology, such as nano-filters, which offer better filtration than traditional filters. The Asia Pacific region is expected to lead market growth due to increased demand from emerging markets like India and China where motorcycling is becoming increasingly popular among younger generations.
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The motorcycle filters market has witnessed significant growth in recent years due to an increase in the production and sales of motorcycles globally. Additionally, the rising demand for fuel-efficient motorcycles has led to a surge in the demand for motorcycle filters, as they help in optimizing the fuel economy of motorcycles. Furthermore, strict emission control regulations have led to the development of advanced filters that reduce the amount of pollutants released into the environment, driving the demand for motorcycle filters in the market.
The motorcycle filters market is highly competitive, with a large number of global and regional players vying for market share. Key players in the market are constantly innovating and investing in R&D to develop advanced filters that offer better performance and longevity. Collaborations with OEMs and expanding their geographic presence are also important strategies employed by key players to stay competitive in the market. The increasing demand for high-performance motorcycles and the growing popularity of aftermarket filters offer significant growth opportunities for players in the motorcycle filters market.
Segmentation:
The motorcycle filters market can be segmented by type, application, and region.
- By type, the market can be segmented into air filters, oil filters, fuel filters, and others.
- By application, the market can be segmented into OEMs and aftermarket.
- By region, the market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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Regional Analysis:
Asia Pacific is the largest market for motorcycle filters, accounting for over 50% of the global market share in 2020. The region's dominance can be attributed to the high production and sales of motorcycles in countries such as India, China, Japan, and Indonesia. North America and Europe are the other significant markets for motorcycle filters due to the high demand for high-performance motorcycles in these regions.
Competitive Landscape:
The motorcycle filters market is highly competitive, with a large number of global and regional players.
Some of the key players in the market include
- K & N Engineering, Inc.
- Mann+Hummel GmbH
- Pipercross Performance Filters
- BMC Srl
- DNA Filters
- Uni Filter Inc.
- NAPA Filters
- Roki Co. Ltd.
- Ryco Filters
- Filtrak Brandt GmbH
These players are focusing on expanding their product portfolios, collaborating with OEMs, and increasing their geographic presence to gain a competitive advantage.
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For instance,
- UFI FILTERS S.p.A in April 2017, had launched new diesel fuel filter cartridge in Korea automotive aftermarket. The product is designed for aftermarket applications, covering Hyundai and Kia cars.
- In August 2016, Donaldson Company, Inc. acquired Industrias Partmo S.A. in Colombia through its newly owned subsidiary, Filtros Partmo S.A.S. with an aim to increase sales of its replacement filters brand, Partmo, in Latin America.
- In April 2017, Mann+Hummel GmbH launched new spin-on filter systems for oil and fuel filters as an original equipment for combustion engines and compressors.
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