Automotive Filters Market to Surpass US$ 26.08 Bn by 2031; Finds TMR Study
Growing awareness about regular filter replacement in aftermarket segment propelling substantial sales year-over-year; implementation of fuel economy standards catalyze demand for synthetic filters in Asia Pacific
Albany NY, United States, May 17, 2022 (GLOBE NEWSWIRE) — Stricter implementation of fuel economy standards is propelling need for automotive filters with high performance and service life. The demand for cabin, oil, intake air, and oil filters has been rising in especially for passenger and light-duty vehicles. The global automotive filters market is projected to exceed US$ 26.08 Bn by 2031.
The increasing consumer awareness about the need for periodic replacement of filters is catalyzing revenue opportunities for numerous automotive filters manufacturers & suppliers. High average miles driven per year in several countries are expanding avenues for commercial automotive filter manufacturers.
Emphasis on the health risks of car inmates due to human exposure to particulate matter (PM) is invigorating installation of advanced cabin air filters for reducing concentrations. OEMs are jostling to adopt high-performance synthetic materials for promoting the fuel efficiency of cars. The demand for environment-friendly vehicles is expanding commercialization scope for various types of car filters.
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Key Findings of Automotive Filters Market Study
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Fuel Economy Standards Reinforcing Rise in Installation of Filters in Passenger Cars: Several economies have in place fuel economy standards for various automobile notably for passenger cars and light commercial vehicles, thus propelling uptake of filters in the automotive industry. Of note, tightening the CO2 emission limits and GHG emissions in developed regions has been spurring product innovation in the automotive filters market. In emerging economies, rising investments by governments and industry players on reducing harmful emissions from the transportation sector is generating enormous profitable opportunities in the automotive filters market.
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Awareness About Benefits of Automotive Filters in Vehicle Performance Expanding Profitable Avenues: Growing awareness about benefits of automotive filters among car owners is steering the product adoption. In particular, automotive filters are viewed as an essential automotive component for ensuring engine performance on one hand and health safety of the passengers and drivers on the other. Filters are gathering traction for reducing emissions from various interior components of vehicles and emissions from exhaust fumes. Recovery in demand in the automotive and transportation industries in the past few months has further bolstered demand for automotive filters in the regular maintenance schedule of the vehicles. Sizable sales of intake air filters have generated massive revenues in the automotive filters market.
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Innovative Product Launches Aim at Long-life Filters: Extensive R&D in increasing the service life of automotive filters are creating new revenue potential in the automotive filters market. The landscape is enriched by the strategic focus of manufacturers on product innovation in the automotive filters market. A case in point is emphasis on increasing service life of automotive cabin air filters.
Automotive Filters Market: Key Drivers
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A booming automobile industry in numerous countries across developed and developed regions of the world is a key force in driving market prospects for automotive filters. Especially in North America, market players have witnessed substantial avenues on the back due to rising number of passenger vehicles.
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Stringent emission laws pertaining to vehicles to prevent hazardous air pollutants such as hydrocarbons, nitrogen oxide, and carbon monoxide has stirred the need for automotive filters. These regulations are strictly enforced in countries such as the U.S., which has spurred the sales of automotive filters to be adopted in passenger cars and trucks.
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Automotive Filters Market: Regional Growth Dynamics
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North America held a leading share of the global automotive filters market. Rise in adoption of filters in trucks and passenger cars in Mexico and the U.S. has generated sizable revenue growth, finds a global market study on automotive filters. Regulations for greenhouse gas (GHG) emissions from commercial trucks & buses especially in the U.S. have expanded profitable avenues.
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Asia Pacific is a potentially lucrative automotive filters market, underpinned by stricter implementation of fuel economy standards
Automotive Fi
lters Market: Key Players
Some of the key players in the automotive filters market are Sogefi SpA, Robert Bosch GmbH, North American Filter Corporation, MAHLE GmbH, K&N Engineering, Filtrak Brand GmbH, Farm Group IP LLC, Donaldson Company Inc., Denso Corporation, Airmatic Filterbau GmbH, and ALCO Filters Ltd.
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Global Automotive Filters Market: Segmentation
Automotive Filters Market, by Filter Type
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Fuel Filters
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Oil Filters
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Intake Air Filters
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Cabin Air Filters
Automotive Filters Market, by Filter Media
Automotive Filters Market, by Vehicle Type
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Two Wheeler
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Three Wheeler Vehicle
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Passenger Vehicle
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Hatchback
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Sedan
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Utility Vehicles
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Light Commercial Vehicle
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Trucks
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Buses & Coaches
Automotive Filters Market, by Sales Channel
Automotive Filters Market, by Region
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North America
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Europe
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Asia Pacific
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Middle East & Africa
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Latin America
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