Automotive Filter Market Size [2022-2029]
Pune, India, May 23, 2022 (GLOBE NEWSWIRE) — The world Automotive Filter Market Size is expected to show substantial growth in the coming years due to the increasing consumption of automobiles. This information is published by Fortune Business Insights in its report titled “Automotive Filters Market, 2021-2028”. Additionally, stringent government emissions regulations in various countries are expected to drive the growth of the market in the foreseeable future. For example, according to the United States Environmental Protection Agency, it has been proposed to change the average fuel economy and greenhouse gas emission standards for passenger cars and light-duty vehicles from 2021 to 2026. .
The report offers insight into profitability, entire structure, and scale. It also studies the drivers and restraints and considers all the potential threats to the market. Critical analysis of market sections, forecast analysis and expert opinions are strategically included in the report. A wide range of data including regional analysis, market segmentation, industry developments, and major players are included in the research conducted by market experts.
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Impact of COVID-19
Supply chain disrupted due to lockdown restrictions
The COVID-19 outbreak has led to disruption in the supply chain and automotive industries. This is likely to affect automotive filter production as it is directly proportional to automotive sales. Despite this, it is expected that the first and second quarters of 2021 will see a steady recovery. The reopening of production facilities across the world is expected to propel the growth of the market in the coming years. However, the low cost of operations has allowed the industry to stabilize even with declining product sales.
Strict emission regulations to increase product demand
Growing environmental concerns and stringent emission regulations in developed countries are the major drivers for the growth of the automotive filters market. These regulations have been put in place due to the increasing consumption of automobiles in these countries. For example, in 2018, the European Automobile Manufacturers Association said passenger car production reached 78.6 million globally, with Asia-Pacific and North America being the main regions.
Additionally, technological advancements in different types of filter media, replacement cycles, and other factors are contributing significantly to the growth of the product.
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Oil Filter to Dominate the Market
By type, the global automotive filters market is segmented into oil filters, fuel filters, and air filters. Based on vehicle type, it is divided into passenger cars and commercial vehicles. Based on geography, the market is divided into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
Presence of leading manufacturers in Asia Pacific to drive growth
Asia-Pacific is expected to hold the leading automotive filter market share for the foreseeable future. This is due to the presence of leading manufacturers in the region and the increase in consumer disposable income. Additionally, technological advancements in different types of filter media, replacement cycles, and other factors are driving the growth of the regional market.
North America is expected to hold the second largest market share in the coming years. This is due to the high investment in research and development by manufacturers for advanced filter quality. Government regulations and consumer demand in the region drive high quality products in the market.
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Massive investment by market leaders in R&D to strengthen their market position
The automotive filters competitive landscape is held by various key players who are adopting various strategies to keep up with their competitors. Strategies include various collaborations, product development, mergers and technological advancements. Major players are investing heavily in research and development to propel their business in this competitive landscape with several companies striving for top positions. The wide range of choices advertised by the companies ensures a strong and competitive market for the product.
April 2020: MANN+HUMMEL recently announced that it is testing the effectiveness of its automotive filters to support contamination control with regards to the spread of the coronavirus.
List of Key Players Profiled in the Market:
- Robert Bosch GmbH
- MAHLE GmbH
- Sogefi SpA
- Hengst SE
- K&N Engineering, Inc.
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- key ideas
- Key Industry Developments – Mergers, Acquisitions and Partnerships
- Porter’s Five Forces Analysis
- SWOT analysis
- Technological development
- Value chain analysis
- Impact of COVID-19 on the automotive filters market
- Global Automotive Filters Market Analysis, Outlook and Forecast, 2017 – 2028
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