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Automotive Filters Market is Estimated to be Worth US$ 21.5 Bn by the year 2031
News provided byEIN Presswire
Sep 23, 2022, 3:19 AM ET
Growing awareness regarding quality of air cabin drives the demand for automotive filters.
NEW YORK, NEW YORK, UNITED STATES, September 23, 2022 /EINPresswire.com/ -- Automotive Filters Market 2022
The global automotive filters market is estimated to be worth US$ 21.5 Bn to witness a CAGR of 2.6% between 2021 and 2031.
This report provides in depth study of “Automotive Filters Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Automotive Filters Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.
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With governments around the world batting for environmental safety, the demand for automotive filters has increased manifold and will continue to do so even going forward. The developed countries are well-versed with automotive filters. However, it would be the developing economies at the forefront in the next 10 years to go for automotive filter. Several types of automotive filters, inclusive of oil, air, fuel, and cabin filter are mandatory in every type of filter. This factor coupled with increase in production of vehicles is expected to provide substantiation to the automotive filter market. Persistence market Research has made sure to list out every point in this regard in its report entitled “Automotive Filter market”.
It is a known fact that automotive filters help in reducing maintenance costs, thereby extending the vehicle’s service life. The emission bodies as well as governments all over have laid down stern emission laws regarding vehicles to check the emission of hazardous gases like nitrogen oxide, hydrocarbons, carbon monoxide, and likewise. For instance – EPA has upgraded standards like “National Program for Greenhouse Gas (GHG) Emissions” along with fuel economy standards pertaining to light duty vehicles (could be trucks or passenger cars).
Along the similar lines, cities in Germany have been entitled to execute ban on the outdated diesel vehicles as per the EU’s rules for curbing air pollution. These factors that act as catalysts to automotive filter market have been explained well by Persistence Market Research through its report mentioned above.
Growth in DIY (Do-it-Yourself) Services: A Hindrance?
There are IAMs producing as well as selling automotive filters at prices lower than various Tier 1 companies. They make use of DIY services herein. The price comes down to 20-25%. This factor may reduce the margin for OEMs, which needs to be pondered about.
BEV and Cabin Filters to rule the Roost?
BEV filter, being larger in size as compared to PHEV filter, is expected to dominate the automotive filter market in the forecast period. Cabin filters are being made available in upgraded versions at regular intervals. For example – MANN + HUMMEL, since April 2020, is testing effectiveness of the products churned out from its kitty for controlling contamination through virus spread. Persistence Market Research has entailed this in its report.
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Automotive Filter Market is segregated as…
Automotive filter market, by type of fuel, spans diesel and gasoline. By media type, it says synthetic and cellulose. By type of material, it’s electrostatic, activated carbon, and particle. By ICE vehicle type, the market comprises LCV, passenger car, truck, and bus. By EV type, it’s oil filter, fuel filter, air filter, cabin filter, brake dust filter, dryer cartridges for batteries, EMI/EMC filter, cooling air particle filter, and transmission oil filter.
By type of ICE filter, it’s oil filter, fuel filter, air filter, fuel filter, cabin filter, steering filter, coolant filter, brake dust filter, oil separator, and transmission oil filter. Out of these, cabin filter holds the largest market share. Persistence Market Research has delved deep into this information.
North America holds the largest market share with the US being home to majority of OEMs like General Motors and Ford. Europe is led by Germany-based Volkswagen. The Asia-Pacific is expected to grow at the fastest pace between 2021 and 2031 due to Japan-based players leading in terms of production of automotive filters. Persistence Market Research has mentioned these facts through statistics.
The Fierce Competition
Persistence Market Research has profiled the key players in automotive filter market as follows:
Robert Bosch GmbH
Hollingsworth & Vose Company
UFI Filters S.p.A
Donaldson Company, Inc.
Freudenberg & Co. KG
Airmatic Filterbau GmbH
ALCO Filters Ltd.
Hengst SE & Co. KG
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Key Questions Answered in This Report.
What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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