Automotive Filters IndustryInsights:
The "Global AutomotiveFilters Market Analysis to 2023" is a focused and in-depth study of theautomotive and transportation industry with the global market trend analysis.Market Research Future’s report on the global Automotive Filters market 2020puts light from an overview. It states that in the past years, the market hasseen remarkable growth, but now it can anticipate witness more and moreexpansion with the CAGR of ~4.96% throughout the years from 2018 to 2023(forecast period).
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Top Impacting Factors
Fuel efficiencies and emissionsof automobiles have remained a huge topic of concern for the automotiveindustry worldwide for decades, and therefore colossal emphasis has been laidin these areas. Similarly, automotive filters are the components that augmentfuel consumptions and also aid in justifying the vehicular emissions fromautomobiles. The growing automotive production around the world is estimated toboost the automotive filters market rapidly for future timeframe.
Besides, stringent emission normslaid by various automotive regulatory bodies across the world are also countedamong the major factors driving the automotive filters market. As perAutomotive Aftermarket Suppliers Association (AASA), as a result of serviceparts counterfeiters in the year 2015, the market incurred a loss of around USD12 billion in every year and USD 3 billion of which is approximate to be forthe U.S. market merely, MRFR founded in its recent study.
With this, a considerable shiftin consumer preference towards diesel cars for fuel efficiency and necessity toreduce pollutant emission levels is yet another major factor shaping automotivefilters market dynamics. To add-on more, the surged diesel passenger cars, andcommercial vehicles usage across the globe may also lead to the high pollutionlevel. Henceforth, automobile manufacturers are investing hugely in new productdevelopment to meet technical requirements of the upgraded emission norms, andthus resulting in initiating growth aspects in the global automotive filtersmarket.
In spite of beneficiary factors,the growing popularity of electric vehicles in recent times is being taken asone of the foremost hindrances to the adoption of the automotive filters andexpansion of its market. Other than this, counterfeiting of products issimultaneously becoming a significant challenge for manufacturers, along withunavailability of original products. All these factors have an immense chanceto hamper the growth of the market throughout the forecast period.
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Segmentation of Market:Automotive Filters
From the viewpoint of segmentalanalysis, the global automotive filters market is studied among the segments ofsales channel, type, and application.
Among the type segment, themarket is segregated into air filter, fuel filter, emission filter, and oilfilter.
Among the sales channel segment,the market has included OES, OEM, aftermarket, and IAM.
Among the application segment,the market is segmented into light commercial vehicles, passenger vehicles,heavy commercial vehicle as well as a two-wheeler.
Regional Framework
From the geographical point ofview, the global automotivefilters market study has been conducted across the main regions of Europe,Asia Pacific, North America, and the Rest of the World.
The Asia Pacific automotivefilters market will witness considerable growth at over 6.5% CAGR throughoutthe forecast period owing to the mounting disposable incomes, increase inpassenger car sales, and rapid industrialization. The high automotive outputfrom countries such as India and China will create improved replacement demandin the coming years. In fact, favorable FDI policies on aftermarket partsmanufacturing and government regulations also focus on plummeting the carbonemissions will generate notable gains up to the year 2023.
To add with this, keymanufacturers are also focusing on developing niche products and capacityexpansions owing to strong demand for low-cost aftermarket products in the APACregion. In a case of point, back in December 2018, Donaldson Filtration Solutionannounced the expansion of its Wuxi manufacturing plant in China. In such adevelopment, the company increased its air filter manufacturing capacity andsetup of first Chinese based liquid filtration production capacity.
Top Market Contenders
The top industry contendersoperating in the global automotive filters market are adopting strategies suchas acquisitions, mergers, collaborations, and launches to enhance theirexisting offerings and expansion of their portfolio. Those leading vitalplayers are ALCO filters (Germany), Lydall Inc. (Japan), Robert Bosch GmbH(Germany), Mahle GmbH (Germany), Toyota Boshoku Corporation (Japan), ClarcorInc. (Germany), Mann+Hummel, CumminsInc. (U.S.), ACDelco Inc. (U.S.), Hollingsworth &Vose Co. Inc. (U.S.), DensoCorporation (Japan), Donaldson Company Inc (U.S.).
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About Market Research Future:
Market Research Future (MRFR) isa global market research firm that takes great pleasure in its services,providing a detailed and reliable study of diverse industries and consumersworldwide. MRFR's methodology integrates proprietary information with differentdata sources to provide the client with a comprehensive understanding of thecurrent key trends, upcoming events, and the steps to be taken based on thoseaspects.
Our rapidly expanding marketresearch company is assisted by a competent team of research analysts whoprovide useful analytics and data on technological and economic developments.Our deemed analysts make industrial visits and collect valuable informationfrom influential market players. Our main goal is to keep our clients informedof new opportunities and challenges in various markets. We offer step-by-stepassistance to our valued clients through strategic and consulting services toreach managerial and actionable decisions.
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