According to a new market report published by Lucintel, the future of the global automotive filter market looks promising with opportunities in passenger cars, light commercial vehicles and heavy commercial vehicles. The global automotive filter market is expected to reach an estimated $15.7 billion by 2023 and it is forecast to grow at a CAGR of 2.2% from 2018 to 2023. The major drivers of growth for this market are recovery in vehicle production and sales, increased miles driven per vehicle, more stringent government and environmental regulations, and increasing focus of vehicle owners on preventive maintenance.
In this market, fuel filter, engine air filter, oil filter, and cabin air filter are some of the major segments of the automotive filter market by product type. On the basis of its comprehensive research, Lucintel forecasts that the engine air filter and cabin air filter segments will show above average growth during the forecast period.
Passenger cars, light commercial vehicles and heavy commercial vehicles are the major segments of the automotive filter market by vehicle type. Light commercial vehicle is expected to show above average growth during the forecast period.
By end user, OEM and Aftermarket are the major segments of the automotive filer market. Aftermarket is expected to show above average growth during the forecast period.
APAC is expected to remain the largest region for automotive filters due to rising demand and production of vehicles along with increasing average age of vehicles in operation.
Emerging trends, which have a direct impact on the dynamics of the industry, include the innovation of engine air filter compact systems in commercial vehicle filters, and the development of multi-filtration systems. Mann+hummel Holding Gmbh, Mahle International Gmbh, Donaldson Company Inc., NGK Insulators Ltd and Parker Hannifan are the major filter suppliers in the global automotive filter market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive filter market by product, vehicle type and end user, region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Automotive Filter Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global automotive filter market by product, vehicle type, end user and region, as follows:
By Product Type ($ Billion from 2012 to 2023)
• Fuel Filter
• Engine Air Filter
• Oil Filter
• Cabin Air Filter
By Vehicle Type ($ Billion from 2012 to 2023)
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
By End User ($ Billion from 2012 to 2023)
By Region ($ Billion from 2012 to 2023)
• North America
o United Kingdom
• Asia Pacific (APAC)
o South Korea
• The Rest of the World
This 182-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at firstname.lastname@example.org. Lucintel offerings include Mass Transportation, Transportation Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automotive filter market by product (fuel filter, engine air filter, oil filter, cabin air filter), vehicle type (passenger cars, light commercial vehicles and heavy commercial vehicles), end user (OEM and aftermarket), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?