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The major shifting preferences of the consumer towards fuel-efficient diesel engines and the need to lower the carbon footprint is likely to drive the growth of the automotive filter market. The stringent government emission regulations are also expected to drive the growth of the automotive filters market over the forecast period. For example, according to the United States Environmental Protection Agency, there has been proposed to amend the greenhouse emission standards and Corporate Average Fuel Economy (CAFE) to vehicle models covering from 2021 through 2026 of passenger cars and light commercial vehicles. The increasing number of vehicles in developing countries is expected to propel the growth of the automotive filter market. The advancement in automotive filters is also likely to drive the growth of the market.
Key Market Driver -
Stringent government emission regulations are expected to drive the growth of the market.
Key Market Restraint -
The increasing adoption of electric vehicles is expected to hamper the growth of the market.
The unreplaceable filters in the vehicles are likely to hamper the growth of the automotive filters market. The increasing adoption of electric vehicles among consumers owing to alternative fuels is expected to restrain the growth of the filters market. Also, the low maintenance cost of electric vehicles, which in turn lowers the expenses on the vehicle, is likely to boost the market for the electric vehicles.
The global automotive filters market has been segmented into type, vehicle type, and region. By type, the global automotive filter market is segmented into the oil filters, fuel filters, and air filters. The oil filter segment is expected to dominate the market over the forecast period. The oil filters are frequently changed in the vehicles, and also they play a prime role in the lubrication system. These factors are expected to drive the growth of this segment in the market. The air filter is also expected to show good growth in the market over the forecast period. By vehicle type, further, the market has been segmented into passenger cars and commercial vehicles. The commercial vehicle segment is expected to dominate the market over the forecast period owing to the high usage of air filters in the vehicles, as they travel for long haul operations and also the requirement of the clean air in the engine for smooth functioning.
Some of the major companies that are present in the automotive filters market include Robert Bosch GmbH, MAHLE GmbH, Sogefi SpA, Ahlstrom-Munksjo, Hengst SE, K&N Engineering, Inc., MANN+HUMMEL, among others.
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Geographically, the automotive filters market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia-Pacific is expected to dominate the market over the forecast period. The rising sales and production of the vehicles in this region owing to the increasing individual's expenditure power and growing urbanization is likely to drive the growth of the market in this region. North America is also expected to show good growth in the automotive filters market over the forecast period. The stringent government emission regulations are likely to drive the market’s growth in this region. Europe is also expected to show good growth in the automotive filters market over the forecast period.
By Vehicle Type
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