Harrisburg, NC -- (SBWire) -- 10/08/2020 --The Global Automotive Fuel Filter Market Research Report 2020 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The report describes various segments as well as analysis of the trends and factors that are playing a substantial role in the market. It provides an in-depth study of the Automotive Fuel Filter market by using SWOT analysis. This gives a complete analysis of drivers, restraints, and opportunities of the market. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The global automotive fuel filter market is anticipated to register a CAGR of over 5.3% during the forecast period (2020 - 2025).
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Top Key Players in the Global Automotive Fuel Filter Market: Denso Corporation, Parker Hannifin Corp, Mahle GmbH, Mann+Hummel, Hengst SE, Cummins Ltd, and among others.
For instance, Italy-based UFI Filters announced it will invest EUR 4 million to expand its operations in Brazil. The new facility will begin operations in 2020, producing the entire UFI filter product line, which includes air, oil, cabin, and fuel filters for light and heavy vehicles. UFI Filters estimates that the new Brazilian unit will represent approximately 15% of the company's annual revenue.
Key Market Trends
Growing Sales of Electric and Hybrid Vehicle - Hindering Market Growth
The increasing market for electric and hybrid vehicles is a major restraint for the fuel filter market. This along with the lesser requirement of mechanical moving parts as well as motors in EVs has proved to be a key restraining factor for the fuel filter market.
Electric mobility is expanding at a rapid pace. In 2018, the electric car fleet exceeded 5.1 million, up 2 million compared to 2017 and almost doubling the number of new electric car sales. China remains the world's largest electric car market, followed by Europe and the United States. Norway is the global leader in terms of electric car market share.
The leading countries around the world are promoting electric mobility and taking a variety of measures such as fuel economy standards coupled with incentives for zero- and low-emission vehicles, economic instruments that help bridge the cost gap between electric and conventional vehicles. Increasingly, policy support is being extended to address the strategic importance of the battery technology value chain.
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Regional Analysis for Market:
For a comprehensive understanding of market dynamics, the global Automotive Fuel Filter market is analyzed across key geographies namely: United States, China, Europe, Japan, South-east Asia, India, and others. Each of these regions is analyzed on the basis of market findings across major countries in these regions for a macro-level understanding of the market.
Asia-Pacific Dominating the Fuel Filter Market
The global automotive fuel filter market is dominated by Asia-Pacific, followed by Europe and North America. The growing vehicle production in the major countries of the Asia-Pacific region such as China, Japan, and India, is driving the fuel filter market in the region.
Automotive engine technologies in North America are becoming increasingly sophisticated, and supplying clean fuel to these complex engines is a critical task. Fuel filters are an integral part of conventional engine vehicles automobiles, as they not only fuel but also play a major role in engine efficiency and emissions. Since, stringent emission and fuel efficiency norms enforced by governments and governing bodies around the world, have forced automotive manufacturers to seek different methods to meet these standards. This is driving the demand for automotive fuel filters.
Table of Contents:
Executive Summary: It includes key trends of the Automotive Fuel Filter market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the Automotive Fuel Filter market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Automotive Fuel Filter market.
Market Segments: This part of the report discusses product type and application segments of the Automotive Fuel Filter market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
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Automotive Fuel Filter Market Growing Demand and Manufacturing Analysis 2020 to 2025