Automotive Research Reports |
automotive oil filter industry play a crucial role in the working of an ICE engine. With the growth of the automotive industry, the oil filter market is also expected to scale new heights on the global front. As per the report offered by Market Research Future (MRFR), the global oil filter market is expected to mark 5% CAGR during the evaluation period 2018 to 2023. Rising demand for automobiles is anticipated to drive the growth of the market over the next couple of years.
Oil filters facilitate the enhancement of performances of the vehicles. This, in turn, is anticipated to motivate the integration of these filters in automotive over the next few years. It is poised to boost revenue generation of the oil filter market across the assessment period. Increasing inclination towards fuel-efficient technologies is also projected to lead the growth pace of the market in the forthcoming years. In addition, increasing per capita income is likely to favor e4xpansion of the automotive industry globally. This, in turn, assures that the global oil filter market is set to remain lucrative in the years to come. Market Segmentation: By filter type, the global oil filter market has been segmented into fuel filter, hydraulic filter, engine oil filter, and others. The segments of the oil filter market, based on filter media, has been segmented into synthetic, cellulose, and other oil filter. The segmental analysis of the global oil filter market, on the basis of vehicle type, covers passenger car and commercial vehicle. On the basis of fuel type, the oil filter market has been segmented into gasoline and diesel. The segment of the global oil filter market, by sales channel, profiled in this MRFR report are OEM and aftermarket. Regional Analysis: The regional analysis of the global oil filter market identifies four key regions. These regional segments are – North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). Asia Pacific is likely to dominate the growth of the market in the upcoming years. Rising investments in establishing manufacturing facilities in the region by global leaders are projected to boost the development of the market over the next few years. Increasing demand for automobiles in the region, coupled with rising disposable income, is further anticipated to expedite the growth pace of the oil filter market in the region in the years to come. Competitive Dashboard: MAHLE GmbH (Germany), MANN+HUMMEL GmbH (Germany), A.L Filter (Israel), North American Filter Corporation (U.S.), Fildex Filters Canada Corporation (Canada), Robert Bosch GmbH (Germany), Filtrak BrandT GmbH (Germany), ALCO Filters Ltd. (Cyprus), Siam Filter Products Ltd., Part. (Thailand), and Luman Automotive Systems Pvt. Ltd. (India) are some of the participants of the global oil filter market. These players are expected to invest in the development of advanced fuel-efficient technologies for gaining an edge over other competitors. Players are also projected to focus on the expansion of regional footprint for gaining edge over competitors. This, in turn, is projected to boost the competition in the oil filter market over the next couple of years. Industry News: In August 2019, Maruti Suzuki, an automobile manufacturer, has announced the introduction of its doorstep car services, ‘Service On Wheels.’ The initiative covers maintenance and servicing services. In April 2019, Plug Power Inc., an American company, has announced the launch of its newest product, ProGen 30kW engine, an addition to ProGen suite of products. In March 2019, a German luxury car manufacturer, BMW, has announced the launch of aftersales benefit program ‘BMW Joy Rewards.’ The program is launched for the customers in India.
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