Automotive filters play a vital role when it comes to maintaining vehicle efficiency, reducing downtime, and minimizing long-term operating costs. Development of automotive filters with organic materials or polyurethane-based adhesives, and offering customized air filters, are some of the crucial factors boosting the growth of the automotive filters market. Smooth operation of a vehicle in order to minimize engine damage makes the use of filters inevitable in the ever-growing automotive industry.
Designed to protect engines for a longer period of time with more efficient media that maximizes energy, automotive filters are anticipated to witness impressive demand in the foreseeable future. The global automotive filters market is projected to exhibit a CAGR of more than 4% during the forecast period of 2019-2029.
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Key Takeaways of Automotive Filters Market Study
- By vehicle type, the passenger cars segment is projected to hold a prominent share of the global automotive filters market. This can be attributed to the growing need for personal cars and private cabs, which has sparked requirement from passenger car manufacturers for automotive filters in emerging economies.
- Out of all the filter types, oil filters are given preference, as they are used in every internal combustion engine to remove particulates in order to improve the operational efficiency of engines and prevent damage to vital parts.
- Asia Pacific is expected to hold significant share in the global automotive filters market as a result of rising vehicle production. Also, improvements in economic conditions, backed by increasing investments by industry players, are responsible for market growth. North America and Europe are expected to witness notable growth over the stipulated period, owing to rapidly increasing demand for filters from OEMs, as well as replacement or aftermarket needs.
- Owing to the developing trend of engine management systems, filters are nowadays ubiquitous in the automotive sector, which includes mining machines, trucks, buses, generator sets, forklifts, and other types of engine-equipped machines so as to filter and remove atmospheric particulate matter.
- By sales channel, the IAM segment is projected to occupy more space in the aftermarket as compared to OEMs, as a result of growing networks of non-car, brand-specific repair shops. Also, these players are investing in optimizing customer experience by introducing different service offerings.
“Growth of the automotive filters market growth is imminent, owing to rising consumer emphasis on preventive maintenance, increasing average age of vehicles in operation, along with miles driven per vehicle. Rigorous investments in highly-efficient automobiles for a diversified customer base and for minimizing engine damage are expected to boost the growth of the automotive filters market,” says a PMR analyst.
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Competition Overview
The automotive filters market has become fairly competitive, as manufacturers are launching advanced products compatible with different kinds of engines, and at the same time complying with existing regulations in the market. Key players involved in the automotive filters market are Mahle Group, Robert Bosch GmbH, Mann+Hummel GmbH, FRAM Group IP LLC, Sogefi SpA, Donaldson Company Inc., K&N Engineering, Denso Corporation, and Airmatic Filterbau GmbH, among others.
Long-term Outlook
The automotive industry is witnessing gradual growth, owing to erratic developments in the world economy. The ability to hold a potential role in almost all industries is anticipated to create significant growth opportunities for the automotive industry. Moreover, economic and mid-size cars are anticipated to witness significant growth over the forecast period, which can be attributed to growth in disposable income, globally. This will subsequently give rise to demand for efficient engines in vehicles for smooth operation over a longer duration, which is simultaneously expected to drive growth of the automotive filters market over the forecast period.
Want to Know More?
Persistence Market Research has published a market research report on the automotive filters market that contains global industry analysis of 2014–2018 and opportunity assessment for 2019–2029. The report provides insightful analysis of the automotive filters market through five different segments – filter type, vehicle type, filter media, sales channel, and region. The automotive filters market report also provides demand and supply trends, with a detailed overview of the parent market.
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