Automotive Filters Market 2019 Report Forecast By Global Industry Trends, Future Growth, Regional Overview

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Feb 04, 2021 (Market Insight Reports) —
Selbyville, Delaware The report includes several valuable information on the Automotive Filters market, derived from various industrial sources. The report studies the competitive environment of the Automotive Filters market is based on company profiles and their efforts on increasing product value and production.

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Automotive filters Market is expected to exceed USD 19 billion by 2025.

Some major findings of the automotive filters market report include:

– The demand for automotive filters is increasing across the globe due to increasing pollution problems and strict regulations pertaining to environment.

– The government policies in Asia Pacific to enhance the economic growth will boost the demand.

– The increasing demand for automotive filters to reduce the contaminants present in the vehicle environment and the engine.

– Some of the major players operating in the automotive filters market include MANN+HUMMEL, Toyota Boshoku, Ahlstrom Corporation, Robert Bosch, Cummins, Parker Hannifin Corp. and Mahale GmbH

– Companies are investing in research and development to develop new products to gain competitive edge

– Asia pacific automotive aftermarket may surpass USD 145 Billion by 2022 owing to increasing average age of cars in the region has resulted in frequent aftermarket services, thus stimulating product demand.

Air filters are a crucial part of the vehicles as they regulate air movement which is required for the combustion of fuel and greatly impacts effluents, efficiency and life of the engine. Contaminated air with dirt, fumes, smog and other suspended particles if harmful for the engine. Increasing pollution will have greater impact on the system, thereby increasing the demand for product in the forecasted timeline.

Oil filters play a vital role in lubricating and protecting the system from early deprivation. These products are mainly used in moving parts of engine and cylindrical walls for proper lubrication. These protect the engine from wear and tear, extending the life of the automotive. These oils filters help to remove contaminants such as carbon deposits, abraded metals, soot particles and dust. Considering these factors, demand for automotive oil filters will increase in forecasted time frame.

The global passenger vehicle car market is expected to surpass USD 1.5 trillion by 2023. Increasing vehicle financing options by several organizations has resulted in the easy purchase of products, propelling the demand for automotive filters in this segment. Rising production coupled with low cost advantage due to economies of scale will support the market demand. Further, rising demand for passenger vehicles due to increasing population in urban areas coupled with increased consumer spending will support the automotive filters business expansion.

Low cost of the product in aftermarket is the key factor to increase the demand for the products by 2025. OEMs charge higher prices for the products also the automotive filters are easily available in aftermarkets, supporting the market expansion. Automotive filters are subjected to frequent replacements after a certain service period which should accelerate aftermarket industry, thus driving automotive filtration market. The global automotive aftermarket may surpass USD 1.11 trillion by 2030.

Government initiatives to boost the economic growth of the nations will boost filters demand. For instance, ?Made in China? by China and ?Make in India? by India aiming to increase inland production should foster industry growth. For example, In December 2018, Donaldson filtration solution has announced expansion of its Wuxi manufacturing plant in China. Through this expansion, the company will be able to increase its air filter manufacturing capacity and setup of first Chinese based liquid filtration production capacity.

The market is competitive and fragmented in nature with industry participants including Cummins Inc., Ahlstrom Corporation, Denso Corporation, Neenah Paper Inc., Lydall Inc., Roki Co., K&N Engineering Inc., Parker Hannifin Corp., Toyota Boshoku Corporation, Mahle GmbH, Robert Bosch GmbH, and Freudenberg & Co. The manufacturers adopt strategies including mergers and acquisitions, new product launch, capacity expansion to gain the market share and increase profits.

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The MarketWatch News Department was not involved in the creation of this content.