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Automotive Filter Market Slated To Grow At an Impressive CAGR Of 4.5% across the 2021-2031 Forecast Period

Automotive Filter Market Share & Trends Analysis, By Product Type (Automotive Fuel Filter, Automotive Oil Filter, Others), By Filter Media (Synthetic Automotive Air Filter, Cellulose Automotive Air Filter), By Vehicle Type, By Sales Channel & By Region Forecast, 2021-2031

ROCKVILLE, Md., Feb. 21, 2022 (GLOBE NEWSWIRE) -- As per the latest intelligence report published by Fact.MR, the automotive filters market revenues will expand steadily between 2021 and 2031, following a CAGR of 4.5% and reaching US$ 27 Bn in value. As of 2021, the market is expected to be valued at above US$ 17 Bn, on the back of recovering automotive sales.

“Encouraging governmental policies to aid the automotive sector is poised to boost the automotive filter demand simultaneously. Hefty investments in infrastructure sector will boost the passenger car and cabin air filter sales in forthcoming period,” comments a Fact.MR analyst.

The increasing stringency of vehicle emission and fuel economy regulations are expected to drive the growth of the automotive filters market.

Implementation of regulatory laws by the government towards emission, technological advancement in the automotive filter, rise in adoption of battery electric vehicle (BEV), and upsurge in demand for vehicles in the emerging economies are the significant factors that impact the growth of the Global Automotive Filter Market. These factors are anticipated to either drive or hamper market growth.

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Key Takeaways from the Market Study

  • Cabin air filters to register highest growth, recording a CAGR of 4.8% through 2031, capturing 60% revenue
  • By vehicle type, automotive filters for passenger cars to surpass a CAGR of 5% until 2031
  • Synthetic automotive filters to exceed revenues worth US$ 10 Bn by 2022, by filter media
  • By sales channel, IAMs to account for bulk of automotive filter sales, surpassing US$ 10 Bn in revenue by 2022
  • U.S emerged as a highly opportunistic market in 2020, accounting for 30% of global market share
  • From 2021 to 2031, China to remain most lucrative market, capturing 3/5th of global demand

The growth of the automotive filter market is driven by regulations laid by the government for environmental safety as well as emission standards put forth by the regulatory bodies. However, adoption of electric vehicle hampers the growth of the automotive fuel & oil filter market. On the contrary, an increase in demand for vehicles in the emerging economies is expected to provide lucrative opportunities for this market.

Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.

  • In April 2021, MANN+HUMMEL began incorporating nanofiber technology in-cabin air filters for automotive applications reducing the number of pollutants that vehicle occupants breathe and thus improving the air quality in the vehicle cabin.
  • Likewise, Cummins Filtration refined its Fleet guard LF14000NN combination lube filter for its newer engine platforms including Cummins X15 engines. Depending on the quality of oil used, the LF14000NN is capable of longer service intervals which can help fleets lower their operating costs on replacement filters throughout an engine’s life.

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Key Segments Covered in Automotive Filter Market Report

Product Type

  • Automotive Fuel Filter
  • Automotive Oil Filter
  • Automotive Intake Air Filter
  • Automotive Cabin Air Filter

Filter Media

  • Synthetic Automotive Air Filter
  • Cellulose Automotive Air Filter

Vehicle Type

  • Automotive Filters for Passenger Cars
  • Automotive Filters for LCV
  • Automotive Filters for HCV
  • Automotive Filters for Off-Road Vehicles
  • Automotive Filters for Lawn Mowers

Sales Channel

  • Automotive Sales through OEMs
  • Automotive Sales through OESs
  • Automotive Sales through IAMs

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Country-wise insights

In terms of geographical regions, the automotive fuel filter market is expected to be dominated by Asia-Pacific, followed by Europe and North America. The growing vehicle production in major countries, such as China, Japan, and India, is likely to drive the fuel filter market.

The U.S. is the fastest-growing automotive filter market in North America, accounting for over 30% of the market share in 2020, owing to the mounting adoption of automotive vehicles and augmented investments for vehicle production by major OEMs.

China is anticipated to hold a governing share in the global market for automotive filters, amounting to 60%. Growth is attributed to a shifting of production facilities from Europe and North America. New market initiatives and strategic partnerships are expected to continue during the forecast period.

COVID-19 Impact on Automotive Filters Market

The COVID-19 pandemic has compelled about 95% of all automotive-related companies to put their workforces on hold during the lockdowns. This scenario is expected to affect the automotive filters market, as the growth of the market is directly related to the production of vehicles.

The outbreak of COVID-19 has impacted and disrupted the supply chain of the entire automotive ecosystem, with the production facilities across the globe coming to a halt. Moreover, the decline in production of vehicles due to the halt in production is expected to adversely affect the automotive filters market.

Globally, the repercussions of the lockdown have been immense and unprecedented due to the halt of manufacturing activities. However, the market is expected to regain its momentum as economic activities resume and vehicles' production also rises across the world.

To get to know more about the short-term and long-term impact of COVID-19 on this Automotive Filter Market,

Please Visit: https://www.factmr.com/report/33/automotive-filter-market

Key Benefits Automotive Filter Market Study:

  • This report studies the global automotive filter market with current trends and future estimations to portray the imminent investment pockets.
  • The overall market potential is determined to understand the profitable trends to gain a strong foothold.
  • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
  • The current market is quantitatively analyzed from 2021 to 2031 to highlight the financial competency of the market.
  • Porters five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Fact.MR, in its new offering, presents an unbiased analysis of the Automotive Filters Market, presenting historical demand data (2016-2020) and forecast statistics from 2021 to 2031.

The study divulges essential insights on the market based on product type (fuel filter, oil filter, intake air filter and cabin air filter) filter media (synthetic and cellulose) vehicle type (PC, LCV, HCV, off-road vehicles and lawn mowers) and sales channel (OEM, OES and IAM) across seven regions (North America, Latin America, Europe, South Asia, Oceania and Middle East & Africa).

Key Points Covered in Automotive Filters Industry Survey

  • Market Estimates and Forecasts 2016-2031
  • Key drivers and restraints shaping market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Automotive Filter Market and How to Navigate
  • Recommendation on a Key Winning Strategy

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COVID-19 Impact on Intelligent Traffic Management Systems and How to Navigate - Prospects declined significantly in H1-2020, attributed to the recessionary impact induced by the COVID-19 pandemic. A decline in global automotive production due to closure of factory operations significantly impacted market demand for intelligent traffic management systems.

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