Automotive filters are generally used to remove dust particles and air pollutants from vehicles in order to increase fuel efficiency and power output. It helps to increase airflow and reduce engine damage, extending the life of the vehicle. It has a wide range of applications in the automotive industry. Automobile filters keep harmful pollutants, contaminants, and toxins from entering the vehicle. These filters capture pollen, dust particles, and foul-smelling gases that enter the car through the heating, ventilation, and air conditioning (HVAC) system. Maintaining a healthy and clean ambiance while avoiding eyesight difficulties is made easier by preventing fast condensation of the windscreen. Automobile filters are also gaining popularity around the world as a strategy to lessen the vehicle's environmental impact because they enhance engine performance and reduce fuel consumption. Governments in various nations are creating severe criteria for greenhouse gas (GHG) emissions and vehicle fuel economy as a result of increased automobile sales and growing environmental concerns. As a result, several types of filters are increasingly being used in automobiles to reduce carbon emissions. The Global Automotive Filters Market is expected to grow at a CAGR of ~4% between 2021-2027.
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Market Overview
Consumer preferences for fuel-efficient diesel engines, as well as the need to reduce carbon emissions, are expected to drive the growth of the vehicle filter market. Over the projected period, strict government emission laws are also expected to boost the growth of the automotive filters market. According to the US Environmental Protection Agency, a proposal to change greenhouse emission requirements and Corporate Average Fuel Economy (CAFE) to vehicle models covering 2021 through 2026 passenger automobiles and light commercial vehicles has been submitted. The automotive filter industry is predicted to grow as the number of automobiles in emerging countries rises. The innovation of automobile filters is also expected to fuel the industry's expansion. The automotive filters industry is projected to be hampered by non-replaceable filters in automobiles. The market for filters is projected to be restrained by the rising use of electric vehicles among consumers as a result of alternative fuels. Furthermore, the low maintenance cost of electric vehicles, which decreases vehicle expenses, is expected to promote the demand for electric vehicles.
COVID-19 Impact
The outbreak of COVID-19 has impacted and disturbed the whole automotive ecosystem's supply chain, bringing production facilities all over the world to a halt. This scenario is projected to have an impact on the automotive filters market, as market growth is directly tied to vehicle production. Furthermore, the automotive filters market is projected to be negatively impacted by the drop in car manufacturing as a result of the production standstill. Because these filters are more expensive than conventional filters, OEMs are unable to install them in all vehicle segments because of fluctuating raw material prices and the high cost of filter media such as activated carbon and electrostatic. Due to the economic effects of COVID-19, MANN+HUMMEL, a significant automobile filter maker, has said that the current financial year will be hard. However, the corporation has put itself in a secure financial position to withstand the impact of COVID-19 thanks to reduced operational costs and global reorganization.
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Global Automotive Filters Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Filter Type, the market is primarily studied into:
· Fuel Filter
o Diesel Fuel Filter
o Gasoline Fuel Filter
· Engine Oil Filter
· Engine Air Filter
· Cabin Air Filters
· Steering Filter
· Coolant Filter
Based on filter type, the market is segmented into Fuel Filter, Engine Oil Filter, Engine Air Filter, Cabin Air Filters, Steering Filter, and Coolant Filter. The Engine Air Filter segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. The engine air filter keeps insects, dust, particles, sand, and debris out of the engine and maintains a good air-fuel mixture for optimal efficiency. Because the engine is the most important portion of the car, customers want it to be as safe and efficient as possible. As a result, the engine air filter is predicted to lead the market. The benefits of a clear car engine air filter are better performance and efficiency, extended engine life, and inexpensive and quick change, all these add to the growth of this segment in the forecasted period of 2021-2027
By Application, the market is primarily bifurcated into:
· Passenger Cars
· Commercial Vehicle
Based on application, the market is segmented into Passenger Cars and Commercial Vehicle. The Passenger Cars segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. Because of the hub-spoke layout of metropolitan cities and suburban areas, the passenger vehicle segment is predicted to drive filter demand at a large rate throughout the projection period, owing to each country's continuous increase in miles traveled per year. The increase in automotive filters is mostly due to the ongoing expansion of passenger car manufacturers. Due to the need to keep commercial vehicles in functioning order, a high replacement rate is expected to be a major driving force in this market
By Distribution Channel, the market is primarily bifurcated into:
· OEM
· Aftermarket
Based on the distribution channel, the market is segmented into OEM and Aftermarket. The Aftermarket segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. Because of their simple availability and lower cost than OEM items, automotive aftermarket components are in high demand. Because OEM products are more expensive than alternatives with similar technical specifications and performance, consumers are more likely to choose alternatives with similar technical specifications and performance. Furthermore, the component delivery sales and services have increased as a result of the product's easy availability via e-commerce
Global Automotive Filters Market Region Segmentation Includes:
· North America
· Europe
· Asia Pacific
· Rest of World
During the projection period, the Asia-Pacific is expected to grow at a higher CAGR. Due to rising disposable incomes, fast industrialization, and a rise in passenger car sales, the Asia Pacific automotive filters market is predicted to grow at a CAGR of over XX percent from 2021 to 2027. In the coming years, increased replacement demand will be driven by China's high automotive output. The favorable FDI policies for aftermarket parts manufacture, as well as government rules aimed at lowering carbon emissions, would result in significant profits.
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The major players targeting the market includes:
· Robert Bosch GmbH
· K&N Engineering, Inc
· MAHLE GmbH
· Donaldson Company
· Sogefi S.p.A
· Hengst SE
· DENSO Corporation
· Toyota Boshoku Corporation
· Valeo SA
· MANN+HUMMEL
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the Global context. The specialist team of research analysts sheds light on various traits such as Global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Global Automotive Filters Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.
Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and advancements in the Global Automotive Filters Market?
· Which factors are influencing the Global Automotive Filters Market over the forecast period?
· What are the global challenges, threats, and risks in the Global Automotive Filters Market?
· Which factors are propelling and restraining the Global Automotive Filters Market?
· What are the demanding global regions of the Automotive Filters Market?
· What will be the market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by the companies?
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