Automotive Filters Market to Surpass USD 26.08 billion by 2031 | Report by Transparency Market Research Inc.
The primary competitors in the automotive filters industry are concentrating on growing their market share through joint ventures, alliances, and mergers and acquisitions.
Wilmington, Delaware, United States, Nov. 22, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global automotive filters market was estimated at a value of US$ 21.67 billion in 2020. It is anticipated to register a 1.70% CAGR from 2021 to 2031 and by 2031 the market is likely to attain US$ 26.08 billion by 2031.
An automotive filter keeps microorganisms, exhaust fumes, and pollen from getting into the carburetor and engine. By doing this, cars emit fewer pollutants into the air, require less maintenance, and have longer service lives. Stricter emission regulations have been implemented by the government and emission organizations for cars that release harmful gases like carbon monoxide (CO), nitrogen oxide (NOx), and hydrocarbons (HC).
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Global Automotive Filters Market: Key Players
Major companies in the global automotive filter market are growing their footprints through new facility openings or mergers and acquisitions. For example, MAHLE GmbH unveiled the CleanLine line of fuel filters in June 2019.
This fuel filter guarantees lower fuel pump and injection nozzle maintenance expenses. Even in cases where the fuel quality may be subpar, they also protect the injection system.
Over the course of their lifetime, they also exhibit outstanding dust separation efficiency. The following companies are well-known participants in the global automotive filters market:
- Continental AG
- Denso Corporation
- Dana Incorporated
- Grayson Thermal Systems
- Gentherm Inc.
- Hanon Systems
- Lennox International Inc.
- Modine Manufacturing Company Inc.
- MAHLE GmbH
- Robert Bosch GmbH
- Valeo SA
- Visteon Corporation
Key Findings of Market Report
- Governments in a number of nations are enacting strict regulations pertaining to greenhouse gas (GHG) emissions and vehicle fuel efficiency because of growing automobile sales and growing environmental concerns.
- In turn, this is encouraging the use of different kinds of automotive filters to lower carbon emissions.
- The goal of research and development (R&D) investments by major businesses is to extend the life of vehicle filters.
- During the projected time, these factors are expected to boost the automotive filters market.
Market Trends for Automotive Filters
- In 2020, the global market for automotive filters had a significant portion of the intake air filters segment, based on filter type. In 2020, the category held a proportion of the market that exceeded 40%. An air filter purifies the air before it enters the engine for burning. Among the materials utilized in car air filters are cotton, paper, and foam.
- Fuel filters increase a vehicle’s fuel economy by cleaning the fuel before it reaches the engine for burning, which is why this segment of the automotive filters market had a sizable share.
- In terms of filter media, the global market for automobile filters in 2020 was dominated by the cellulose filter media sector.
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Global Market for Automotive Filters: Regional Outlook
Various reasons are propelling the growth of the automotive filters market throughout the region. These are:
- North America is forecast to hold a sizable portion of the global market for automotive filters. The high average miles driven annually and high vehicle manufacturing in countries like Mexico and the United States are pushing the automotive filters market in the area. An increase in the demand for passenger automobiles and light commercial vehicles (LCVs) is credited with driving up vehicle production in North America.
- The aftermarket segment of the market has a higher value than the OEMs section. OEMs only install filters in automobiles once, during the manufacturing process. In the aftermarket, filters need to be changed on a regular basis following a specified number of miles. In the end, this boosts the aftermarket sector of the North American market more than the OEMs section.
Some key developments by the players in this market are:
|Grayson Thermal Systems
| Hanon Systems
Global Automotive Filters Market Segmentation
- Fuel Filters
- Oil Filters
- Intake Air Filters
- Cabin Air Filters
- Two Wheeler
- Three Wheeler Vehicle
- Passenger Vehicle
- Utility Vehicles
- Light Commercial Vehicle
- Buses & Coaches
- North America
- Asia Pacific
- The Middle East & Africa
- Latin America
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