According to a report by Fact.MR, the global automotive filter market is projected to register a steady expansion at 5.2% CAGR through 2022. Fact.MR’s report estimates revenues from global sales of automotive filters to increase from US$ 14,283.2 Mn in 2017 to US$ 18,383.8 Mn by 2022-end.
[USPRwire, Wed Aug 07 2019] According to a report by Fact.MR, the global automotive filter market is projected to register a steady expansion at 5.2% CAGR through 2022. Fact.MR’s report estimates revenues from global sales of automotive filters to increase from US$ 14,283.2 Mn in 2017 to US$ 18,383.8 Mn by 2022-end. Soaring adoption of two-wheeler vehicles, and increasing demand for passenger cars are expected to sustain growth of the global automotive filter market. In addition, rapid expansion of automotive sector, coupled with increasing disposable income of people is expected to drive demand for automobiles, which in turn will influence growth of the global automotive filter market.
Filters are an integral part of the automotive engines. Automotive filters help to maintain the quality life of vehicles, enhancing efficiencies and providing cleaner air for customers to breathe in. Regulations pertaining to safety of environment, and emission standards provided by regulatory bodies are becoming more severe, which in turn has compelled automobile manufacturers in integrating filters in cars and bicycles.
Automotive filters are devices composed of filtering materials that remove impurities in engine fluids, and also prevent the entry of contaminants. Based on their functions, a basic categorization of automotive filters includes oil filters, fuel filters and air filters. Fibrous weave, synthetic mesh and semi-permeable membranes are some of the common filtering materials used in production of automotive filters.
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Increasing purchasing power of people across the globe, and rapidly expanding automotive industry are expected to boost demand for automobiles, and thereby automotive filters. In addition, increasing adoption of two-wheelers, and soaring sales of passenger cars are other factors influencing growth of the global automotive filter market. A latest report by Fact.MR projects the global automotive filter market to register steady CAGR during the forecast period 2017 to 2022. In terms of revenues, the market is estimated to reach nearly US$ 15,000 Mn in 2017; by 2022 this number is anticipated to surpass US$ 18,000 Mn.
Based on product type, cabin air filter are expected to remain sought-after in the global automotive filter market. Demand for cabin air filters is mainly driven by surging requirement for high efficiency cars, and growing pollution levels across the globe, particularly in urban areas. Sales of cabin air filters are expected to register the highest CAGR in the market during the forecast period. In contrast, sales of oil filter are expected to register the lowest CAGR through 2022. In addition, intake air filters will remain the second most lucrative product in the global automotive filter market.
Synthetic automotive filters will remain preferred among filter media in the market. Sales of synthetic automotive filters are expected to register an above-average CAGR, to surpass US$ 10,000 Mn in revenues by 2022-end. Revenue from synthetic automotive filters are expected to account for nearly three-fourth share of the market in 2017. Demand for cellulose automotive filters will remain sluggish in the market throughout the forecast period.
Adoption of passenger cars across the globe is witnessing a rapid growth, which in turn has fuelled the demand for automotive filters. High replacement rate of filters owing to the necessity for maintenance of passenger cars will further drive growth of the market. Sales of automotive filters in passenger cars will account for the largest revenues, registering the fastest expansion through 2022. LCVs will continue to be the second most lucrative vehicles for sales of automotive filters. Demand for automotive filters in off-road vehicles and lawn mowers are expected to register the lowest CAGR through 2022.
IAM will continue to be the largest sales channel for automotive filters, with sales estimated to register an impressive expansion through 2022. Sales of automotive filters in IAM are expected to surpass US$ 10,000 Mn by 2022-end. OES will remain the second largest sales channel for automotive filters. Sales of automotive filters in OEM will witness sluggish expansion throughout the forecast period.
Key players in the global automotive filters market include Mann + Hummel GmbH, Cummins, Inc., Parker Hannifin Corporation, K&N Engineering, Inc., Toyota Boshoku Corporation, Donaldson Company, Inc., Hollingsworth and Vose Company, ALCO Filters Ltd., MAHLE GmbH, Denso Corporation, and Roki Co., Ltd.
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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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