New York, US, Aug. 31, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Automotive Filters Market Research Analysis By Type, Propulsion, Sales Channel, Vehicle Type - Forecast 2030”, valuation is poised to reach USD 31.7 Billion by 2030, registering a 3% CAGR throughout the forecast period (2022–2030).
Automotive Filters Market Overview:
Filters are utilized in the vehicles for smooth continuous oil supply and fuel supply and for protecting the components and parts of the engine. Massive numbers of filters are utilized for cabin air purification. Filters carry out a crucial part in boosting the efficiency of the vehicle. All advanced vehicles are outfitted with various filters to upgrade vehicle efficiency. Automotive filters are commonly substituted in four to six months, based on the kilometer run by the pollution level and vehicle type of city, i.e., dust particles in the atmosphere. The perseverance of automotive filters must be conducted regularly to guarantee the vehicles' efficiency and performance.
Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | USD 31,714. 2 Million |
| CAGR (2022 to 2030) | 3% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
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Market USP Covered
Automotive Filters Market Drivers
The global market for automotive filters has recorded a massive rise in the growth rate in the last few years. The market's growth is credited to the factors such as strict regulatory norms, rapid technology developments, and the increasing presence of aftermarket players.
Automotive Filters Market Restraints
On the other hand, the rise in the sales of electric vehicles is likely to impede the market's growth.
COVID-19 Impact
The global health crisis has had a significant impact on the growth of the majority of the industry sectors across the global market. The spread of the disease worldwide led to several governments implementing partial or complete lockdown across their regions. The pandemic caused extraordinary shifts in the structure of several industry sectors' environments worldwide and lowered the demand for vehicles, affecting the global market for automotive filters. During the pandemic period, supplies and staffing were restricted. With the easiness in restrictions, the global market for automotive filters is anticipated to return to the pre-covid rates and exhibit a substantial growth rate over the assessment timeframe. Currently, producers and end-users across the globe are making massive efforts to build linked company environments. They are implementing the latest connectivity options and digitalized technologies. Because of the lack of skilled professionals, automated equipment is about to be a regular aspect of several industries across the globe.
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Automotive Filters Market Segment Analysis
Among all the types, the oil filters segment is projected to record the maximum CAGR across the global market for automotive filters across the assessment timeframe. These filters are utilized to eliminate abrasive materials from transmitting, hydraulic oils, and lubricating. The increase in the usage of power steering, automatic transmission systems, and mechanical linkage is anticipated to boost the demand for oil filters across the global market for automotive filters during the review timeframe.
Among all the end-use sectors, the internal combustion engines segment is anticipated to dominate the global market for automotive filters over the assessment timeframe. ICEs are heat engines in which fuel is ignited to transform chemical energy into mechanical energy. Automobiles supported by ICE deploy several filters to work the automobile effectively. Most of the automobiles being functioned across the globe are operated by ICE. The segment's growth is credited mainly to the growing adoption of these engines across the globe. The segment is anticipated to register the maximum CAGR over the coming years.
Among all the sales channels, the aftermarket segment is anticipated to acquire the most significant share across the global market for automotive filters over the assessment timeframe. The expanding automotive industry is the primary aspect causing an upsurge in the segment's sales. Furthermore, the rise in demand for filters and the demand for better fuel efficiency in the passenger cars and commercial vehicles are also projected to catalyze the segment's growth over the assessment timeframe.
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Among all the vehicle types, the passenger cars segment is projected to acquire the highest revenue share across the global market for automotive filters over the review timeframe. as these cars are often utilized to carry several passengers, the rise in the per capita income will substantially boost the sales of automotive filters for passenger cars. Furthermore, the increase in demand for passenger cars because of the growing population with high purchasing power and strict government regulations related to the vehicle emission level will boost the market size in terms of volume and value for passenger cars. In addition, the consistent rise in the production of passenger cars because of the evolving emission norms and increased demand for vehicles will raise the deployment of filters in passenger cars and are likely to enhance the global market's performance over the coming years.
Automotive Filters Market Regional Analysis
The global market for automotive filters is analyzed across five major regions: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
According to the analysis reports by MRFR, the Asia-Pacific region is anticipated to dominate the global market for automotive filters over the assessment timeframe. The primary aspect causing an upsurge in the regional market's growth is the presence of countries such as India, Japan, and China. Furthermore, the factors such as a rise in the infiltration level of construction vehicles & passenger cars, growing per capita income, initiatives to increase the amount of FDI & economic production cost, and improved infrastructure spending across the region are also projected to boost the growth of the regional market over the forecasted timeframe.
The automotive filter market for the North American region is projected to record a substantial CAGR over the assessment timeframe. The regional market's growth is credited to the aspects such as the growing US market, stringent government policies, and growing awareness regarding filter replacement.
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Competitive Analysis
The list of prominent players across the global market for automotive filters includes the companies such as:
- ALCO Filters Ltd. (Cyprus)
- Hollingsworth & Vose Company (US)
- Robert Bosch GmbH (Germany)
- ACDelco (US)
- Mann+Hummel (Germany)
- Parker Hannifin Corp (US)
- Donaldson Company, Inc. (US)
- Mahle GmbH (Germany)
- Denso Corporation (Japan)
- Toyota Boshoku Corporation (Japan)
- Cummins Inc. (US)
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