Automotive Industry Today
Global Automotive Filter Market to Garner $53.72 Billion by 2024 at 3.9% CAGR, Says Allied Market Research
Allied Market Research recently published a report, titled, “Automotive Filter Market by Filter Type (Fuel Filter, Engine Oil Filter, Engine Air Filter, Cabin Air Filters, Steering Filter, and Coolant Filter), Application (Passenger Cars and Commercial Vehicle), and Distribution Channel (OEM and Aftermarket) - Global Opportunity Analysis and Industry Forecast, 2017–2024”.
Published 16 May 2019
According to the report, the global automotive filter market accounted for $41.10 billion in 2017 and is projected to reach $53.72 billion by 2024, registering a CAGR of 3.9% from 2018 to 2024.
Stringent government regulations for safety along with strict emission standards by regulatory bodies have boosted the growth of the global automotive filter market. However, growing adoption of electric automobiles hinders market growth. On the contrary, rise in demand for vehicles in emerging economies is expected to develop remunerative opportunities in the coming years.
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Global automotive filter market is divided on the basis of filter type, application, distribution channel, and geography. Based on filter type, the market is segmented into fuel filter, engine oil filter, engine air filter, cabin air filters, steering filter, and coolant filter. The engine air filter segment is projected to manifest the fastest CAGR of 5.2% during the forecast period. However, the engine oil filter segment dominated the market in 2017, contributing more than one-fourth of the total market revenue. This is attributed to its ability to filter contaminants such as dust particles from mixing with the engine oil.
On the basis of application, the market is divided into passenger cars and commercial vehicle. The commercial vehicle segment is expected to register the fastest CAGR of 5.8% during the study period. However, the passenger cars segment accounted for the largest share, contributing nearly two-thirds of the market, due to rise in pollution on account of rapid urbanization across the world.
Based on distribution channel, the market is segmented into OEM and aftermarket. The OEM segment is projected to manifest the fastest CAGR of 9.7% during the study period. However, the aftermarket segment held the largest share, contributing more than four-fifths of the total market, owing to affordable price of aftermarket filter and its strong functionality in vehicles.
For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/4654
The market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific region held the largest share in 2017, contributing more than two-fifths of the market, owing to expansion of the automotive sector and rapid industrialization in developing countries. However, the market across LAMEA is estimated to register the fastest CAGR of 5.0% during the forecast period.
Global automotive filter market report provides in-depth analysis of the major market players such as Robert Bosch GmbH, MANN+HUMMEL, Sogefi S.p.A., Denso Corporation, Toyota Boshoku Corporation, ACDelco, Inc., K&N Engineering, MAHLE GmbH, Valeo S.A., and Hengst SE.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Stringent government regulations for safety along with strict emission standards by regulatory bodies have boosted the growth of the global automotive filter market. However, growing adoption of electric automobiles hinders market growth. On the contrary, rise in demand for vehicles in emerging economies is expected to develop remunerative opportunities in the coming years.
Request for Sample Report at: https://www.alliedmarketresearch.com/request-sample/4654
Global automotive filter market is divided on the basis of filter type, application, distribution channel, and geography. Based on filter type, the market is segmented into fuel filter, engine oil filter, engine air filter, cabin air filters, steering filter, and coolant filter. The engine air filter segment is projected to manifest the fastest CAGR of 5.2% during the forecast period. However, the engine oil filter segment dominated the market in 2017, contributing more than one-fourth of the total market revenue. This is attributed to its ability to filter contaminants such as dust particles from mixing with the engine oil.
On the basis of application, the market is divided into passenger cars and commercial vehicle. The commercial vehicle segment is expected to register the fastest CAGR of 5.8% during the study period. However, the passenger cars segment accounted for the largest share, contributing nearly two-thirds of the market, due to rise in pollution on account of rapid urbanization across the world.
Based on distribution channel, the market is segmented into OEM and aftermarket. The OEM segment is projected to manifest the fastest CAGR of 9.7% during the study period. However, the aftermarket segment held the largest share, contributing more than four-fifths of the total market, owing to affordable price of aftermarket filter and its strong functionality in vehicles.
For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/4654
The market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific region held the largest share in 2017, contributing more than two-fifths of the market, owing to expansion of the automotive sector and rapid industrialization in developing countries. However, the market across LAMEA is estimated to register the fastest CAGR of 5.0% during the forecast period.
Global automotive filter market report provides in-depth analysis of the major market players such as Robert Bosch GmbH, MANN+HUMMEL, Sogefi S.p.A., Denso Corporation, Toyota Boshoku Corporation, ACDelco, Inc., K&N Engineering, MAHLE GmbH, Valeo S.A., and Hengst SE.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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