Automotive Filter Market Trends and Industry Growth Opportunities
According to a new report published by Reports Monitor titled, “ Global Automotive Filter Market, Growth Opportunities, Innovations and Forecast, 2018-2025,” the global automotive filter market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Automotive filters are largely utilized in automobile industries for filtration of physical elements available in the form of gases and fluids. There are various types of filters used in the automotive industries that includes oil, fuel and air filter.
The rapid developing automotive industry has been the reason for reaching the heights of the global automotive filters market. Emerging market trends relates to the Innovation of engine air filter compact systems in commercial vehicle filters as well as the development of multi- filtration systems. Entering of electric vehicles is the major market restraint reducing the growth. The cabin air filter and the engine air filter will show the average growth in coming years. Enlarged exposure due to air pollution in cabin is not only unpleasant but vehicle occupants can also be affected from the same. Due to the growing interests of government, the demand of automotive filter will boost by the leveraging economies through foreign investments. Moreover, Increasing pollution will boost the demand for the air filters in the coming days. Consumer's purchasing power, increasing quantity of passenger cars, fleet size of vehicle and sales of two wheeler will surely give rise to the demand of automotive filters in the market.
The component of Automotive filters is segmented on the basis of applications and type of filters. On the basis of filter types this market is segmented relating to air filter, oil filter, cabin air filter and fuel filter. Geographical segmentation of the automotive filter involves - Asia Pacific, North America, Europe and rest of the world. Due to the surging growth in the production of vehicle and spare parts, Asia pacific region has come up as a fastest growing market of automotive filters.
Hengst has planned to expand its sales of the product that will help the company to grow up its global presence in all of the major markets by manufacturing the filter product for automotive segment. Bahrain, Oman, Qatar, UAE, Saudi Arabia are served by Hengst enabled by Dubai sales office. The global automotive filter is studied in Netherland, US, Japan, China, Spain, France, Italy and other parts.
The key vendors in this market are: Mann+hummel Holding Gmbh (Germany), Donaldson Company, Inc. (U.S.), K&N Engineering, Inc. (U.S.), ALCO Filters Ltd. (Cyprus), Mahle International Gmbh(Germany), Sogefi SpA (Italy), A.L. Filter (Israel), Filtrak BrandT GmbH (Germany), Luman Automotive Systems Pvt. Ltd. (India), ALCO Filters Ltd. (Cyprus)
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