According to a new market research
report published by Credence Research “Automotive Filters Market (Filter Type –
Air Filter, Oil Filter and Fuel Filter; Vehicle Class – Two wheelers, Passenger
Cars and Commercial Vehicles (LCV, HCV & Offroad); Sales Channel – Original
Equipment Manufacturers (OEMs) and Aftermarket Sales) – Growth, Future
Prospects and Competitive Analysis, 2017 – 2025”, the global automotive filters
market is set to expand with a CAGR of 6.7% through the forecast period of 2017
to 2025.
Browse the full report at http://www.credenceresearch.com/report/automotive-filters-market
Market Insights
Automotive filters are responsible
for efficient functioning of various automotive modules including engine,
suspension, transmission, HVAC and several others. These are primarily used for
filtering air (entering engine as well as vehicle cabin), engine oil and fuel.
Due to growing need for more efficient and environment friendly vehicles,
automotive filters have gained immense significance over the period of time.
The overall automotive filters market is highly driven by the consistently
rising automotive production across the world. Despite the automotive industry
slowdown, the Asia Pacific region has managed to maintain its growth pace, in
terms of automotive production and consumption. Subsequently, continued
anticipated growth in the overall automotive sector is estimated to generate
steady demand for automotive filters in the following years.
Another major factor fueling the
market growth is tightening environment regulations on vehicle emissions.
Increasing concerns regarding air pollution would escalate the demand for more
efficient automotive filters in the following years. However, one of the major
concerns for the automotive filters industry is the steadily rising popularity
of electric vehicles. Growing penetration of electric vehicle eliminates the
need for automotive filters and hence poses significant threat. Nevertheless,
the impact is projected to remain minimal due to relatively slow pace of
electric vehicles adoption across different regions.
The overall automotive filters
market is segmented on the basis of filter type, vehicle class and end-user.
Based on the filter types, the market is further classified into air filters,
oil filters and fuel filters. The air filters segment is further categorized
into engine air filter and cabin air filter. Currently, the market is dominated
by the air filters segment. On the basis of vehicle class, the market is
segmented into two wheelers, passenger cars and commercial vehicles. As of
2016, the market is led by the passenger cars segment, contributing to more
than forty percent of the total market revenue. Further, the automotive filters
market is categorized, on the basis of end-users, into OEMs and aftermarket
sales.
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Credence Research:
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assistance with making enduring enhancements to their execution and understand
their most imperative objectives. Over almost a century, we’ve manufactured a
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