Automotive Filters Market is Size, Share, & Trends | 2024-2031
The global Automotive Filters Market was valued at $10 8 billion in 2022 and is projected to reach $13 6 billion by 2031, expanding at a CAGR of 3.0% from 2024 to 2031
Automotive filters are components used in vehicles to remove contaminants and impurities from fluids and air. They play a crucial role in maintaining engine performance and longevity by filtering out dust, dirt, debris, and harmful substances from the air intake, fuel, and oil systems. Automotive filters include air filters, oil filters, fuel filters, and cabin air filters, each designed to ensure optimal operation and protection of vehicle systems.
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Key Developments
In October 2022, Audi, the German luxury automaker, formed a partnership with MANN+HUMMEL, a leading German auto components manufacturer, to develop a new particulate filter specifically for electric vehicles
In June 2022, Steelbird International, an Indian automotive components manufacturer, announced an investment of Rs 40 crore (approximately $4 9 million) to establish a new automotive filters manufacturing facility in Rajasthan, India
In May 2022, Steelbird International entered a joint venture with TVS Auto Bangladesh, a subsidiary of Indian two-wheeler manufacturer TVS Motors, to produce motorcycle oil and air filters in Bangladesh
Market Dynamics:
Increase in Vehicle Ownership
Rising vehicle ownership rates, especially in emerging markets like India and China, are driving growth in the automotive filters market. Sustained economic growth in these regions has led to increased disposable incomes, while banks and credit institutions offer attractive vehicle financing options. Additionally, automakers are introducing new models at affordable price points to boost market penetration.
With an average vehicle ownership duration of about seven years for passenger cars and up to fifteen years for commercial vehicles, there is a growing demand for replacement parts, including automotive filters, in the aftermarket. As vehicle ownership continues to rise, the need for automotive filters is expected to grow over the medium to long term
Market Segment Analysis
By Filter Type: Air Filter, Fuel Filter, Oil Filter
By Vehicle Type: Passenger Vehicles, Commercial Vehicles, Two-Wheelers
By Sales Channel: OEM, Aftermarket
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Major Key players
● Mahle GmBH
● Robert Bosch GmbH
● Denso Corporation
● Donaldson Company, Inc
● Sogefi SpA
● Parker Hannifin Corporation
● Fildex Filters Canada
● K&N Engineering, Inc.
● Mann+Hummel
● Hengst SE
*Note:
Additionally, I wanted to highlight that the full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted.
Regional Analysis
The global Palmar Hyperhidrosis Treatment Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa
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