Acumen Research and Consulting, Recently Published Report On “Automotive Filter Market Size, Share, Trends, Scope, Growth Opportunity and Forecast 2019-2026”.
LOS ANGELES, Sept. 03, 2019 (GLOBE NEWSWIRE) -- The global automotive filter market value is expected to reach over 29.6 USD billion by 2026 and is expected to grow at a CAGR of 3.5% during the forecast period, 2019–2026.
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The global automotive filter market is expected to have a steady growth owing to the increasing production of automotive vehicles, rising demand for the automotive filters from automotive industry, and increasing concern towards the environment. Development in the automotive filter technology has increased the fuel efficiency of the vehicles. On t he other hand, lack of raw material availability and presence of huge grey market will slow the growth of the market during the forecasted period.
The global automotive filter market is segmented by type, sales, and application.
Based on the type, the automotive filter market is segmented into air filter, fuel filter, oil filter and emission filter. Fuel filter hold the major share in the global market. Based on the sales, the automotive filter market is segmented into OES, OEM, IAM, and aftermarket. On the basis of application, the automotive filter market is segmented into LCV, Passenger Vehicle (PV), HCV, 2-wheeler. 2-wheeler holds the major share in automotive filter in terms of volume. Presence of huge number of vehicles across the globe coupled with increasing demand for the 2-wheeler vehicles have boosted the market for the automotive filter for 2-wheeler application across the globe.
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Geographically, the automotive filter market has been segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
North America dominates the global automotive filter market owing to the growing adoption of automotive vehicles and increased investment in the countries such as the U.S. and Mexico are driving the market growth in North America. Europe accounts for the second leading share in the global automotive filter market. Increased production capacity of automotive components in the developing countries such as Japan, Korea, and China are significantly driving the market growth. Moreover, rapid urbanization and growth in buying power have increased the demand for commercial vehicles. According to Japan Automobile Manufacturers Association (JAMA) motor vehicle statistics in 2017, a total number of trucks sold in the year 2016 and 2017 was 808,304 and 832,196 which is 3.0% growth. Growing Original Equipment Manufacturer (OEM) outsourcing from India and increasing indigenization of the global OEMs is transforming the country into a preferable manufacturing base. Abundant availability of steel at low cost is another factor driving the market growth. According to India Brand Equity Foundation (IBEF) report, India has overcome the U.S. to become the third largest producer of steel in 2015. Ongoing construction and infrastructural development activities in the Middle East Countries are driving the demand for commercial vehicles. Additionally, the severe weather condition is expected to shorter the life span of parts, which, in turn, drive the demand for replacement of components. According to Kingdom of Saudi Arabia’s General Authority for Statistics, the country’s auto aftermarket was estimated USD 2.6 billion in 2015. LAMA holds the least share in the market.
Some of the major players in the market are MANN+HUMMEL, MAHLE GmbHM, Ahlstrom Corporation, Valeo SA, Robert Bosch GmbH, FRAM Group IP LLC, K&N Engineering Inc., Denso Corporation, UFI Filters, Sogefi S.p.A, Donaldson Company Inc., Champion Laboratories, Airmatic Filterbau GmbH, Alco Filters Ltd., Cummins Inc., Hengst SE & Co. KG, Freudenberg & Co. KG, EuroGielle S.r.l, Hollingsworth & Vose Company, ACDelco, AND Others.
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