Market Overview:
The automotive fuel filter market is predicted to develop as vehicle emissions and fuel economy requirements become more stringent. By 2020, the global market for vehicle oil and gasoline filters is expected to reach $1,006.4 million. Diesel oil and fuel filters are expected to dominate the oil and fuel filter aftermarket, with a larger CAGR than gasoline oil and fuel filters. The short service life of diesel filters compared to gasoline filters is the fundamental explanation for this tendency. The automotive fuel filter reduces air pollution from vehicles by preventing the entry of exhaust fumes, bacteria, pollens, and other contaminants into the engines and carburettor and it lowers vehicle maintenance costs and extends the vehicle's lifecycle, making it a major driving factor for the global automotive fuel filter market. The expansion of the automotive fuel filter market as a result of government regulations for environmental safety and to reduce carbon emissions, as well as an increase in demand for vehicles in developing and emerging economies, is expected to provide lucrative opportunities for the global automotive fuel filter market outlook.
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Market Segmentation:
Filter types, applications, distribution channels, and regions are all used to segment the automotive fuel filter market. During the projected period, the worldwide automotive fuel filter market is expected to rise at a healthy pace. During the projection period, Cabin Filter is expected to increase at a CAGR of 4.8%. This filter aids in the consistent intake of higher-quality air into the car cabin, ensuring that passengers breathe cleaner air.
Furthermore, high-quality intake and cabin filters are gaining appeal in the luxury car market since they ensure cleaner air by capturing dust, pollen, and smog, among other dangerous particles. North America holds a 34.5 % share of the worldwide automotive fuel filter market, owing to increased vehicle manufacturing investments by key OEMs like Ford and General Motors in countries like the United States, Canada, and Mexico. During the forecast period, gasoline filters are expected to be the fastest-growing segment in the fuel type category.
Regional Classification:
North America, Asia Pacific, the Middle East, Europe, and South America are the regions where the worldwide automobile fuel filter market is divided. Due to increased automobile demand and individual disposable income, the Asia Pacific region is expected to occupy the largest share of the worldwide automotive fuel filter market revenue from 2018 to 2023. Throughout the study period, North America is expected to have the second-largest automobile fuel filter market share, with a promising CAGR. Because of the growth of additional manufacturing units in these areas, the United States is the dominant country-specific market in these areas. As manufacturers engage in innovative technology to boost car production, the demand for automotive filters is expected to increase throughout the forecast period.
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Industry News:
Filter media types are becoming more technologically advanced, and the number of filter media changes in each vehicle is decreasing. Furthermore, the increasing demand for car manufacture will eventually lead to the production of additional automobile filters. Because electric vehicles do not use fuels like gasoline, diesel, or petrol, the transition in demand from fuel-based vehicles to battery-electric or plug-in vehicles is a major limitation for the worldwide automotive fuel filter market. Furthermore, the cheap maintenance cost of electric vehicles lowers overall vehicle expenses, increasing demand for better electric vehicles while decreasing the need for automobile fuel filters in gasoline-powered vehicles. The vehicle gasoline filter system market has been encouraged by significant growth in the automotive industry as well as favourable economic changes in developing countries.
Key Players
· Donaldson Company Inc.
· Robert Bosch GmbH
· Mahle Group
· Denso Corporation
· Sogefi SpA
· K&N Engineering
· Champion Laboratories Inc.
· Cummins Inc.
· FRAM Group IP LLC
· Freudenberg & Co KG
· Hengst SE & Co KG
· Mann + Hummel GmbH
· UFI Filters Spa
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