Automotive hydraulic filter system market is predicted to grow rapidly due to growth in the fleet size of vehicles, surge in sales of passenger cars, and rise in purchasing power of consumers.
Albany, NY -- (SBWIRE) -- 04/10/2019 -- A hydraulic filter system is used to filter the oils and hydraulics, used for lubrication and cooling of the components in vehicle. An automotive hydraulic filters helps extend the life of the vehicle components, as it traps debris and dirt that can damage the linkage between components and the internal parts of crucial components such as pistons and cylinders of a vehicle engine.
Rapid growth of the vehicle industry, continuous growth in the fleet size of vehicles, surge in sales of passenger cars, and rise in purchasing power of consumers are projected to drive the automotive hydraulic filter system market during forecast period. Proper functionality of each component is pivotal to reduce the maintenance cost of vehicles. The hydraulic filter system in a vehicle takes care of each component by providing lubrication and cooling. These factors are anticipated to boost in the automotive hydraulic filter system market during the forecast period. Regular replacement of the filter is necessary, as the dirt trapped in the filter damages the hydraulic filters, which increases the cost of maintenance.
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The automotive hydraulic filter system market can be segmented based on filter type, filter material, vehicle type, sales channel, and region. In terms of filter type, the market can be divided into bag filters, screen filters, and magnetic filters. Use of advanced technology is rapidly increasing due to the introduction of technology to resolve vehicle problems. Magnetic filters have more advanced technology, hence it has exponential growth rate during forecast period.
Based on filter material, the automotive hydraulic filter system market can be segregated into metals, wires, papers, synthetics, and others. Paper filters are conventional filters. These are extensively used in commercial vehicles.
In terms of vehicle type, the automotive hydraulic filter system market can be bifurcated into passenger vehicles and commercial vehicles. The passenger vehicles segment can be further sub-segmented as hatchback, sedan, and SUV. The commercial vehicles segment can be further categorized into light commercial vehicles and heavy commercial vehicles.
Based on sales channel, the automotive hydraulic filter system market can be divided as OEM and aftermarket. Hydraulic filters are regularly replaced; therefore, the aftermarket segment is likely to account for large share of the market.
In terms of region, the global automotive hydraulic filter system market can be classified into North America, Asia Pacific, Latin America, Europe, and Middle East and Africa. Increase in demand for vehicles from consumer due to rise in purchasing power parity and establishment of assembly and manufacturing plants in countries such as Brazil and Mexico is likely to fuel the market in Latin America.
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Key players operating in the global automotive hydraulic filter system market include Parker Hannifin Corporation, UFI Filters SPA, Rexroth Bosch Group, Mahle GmbH, Donaldson Company, Inc., Baldwin Filters, Inc., HYDAC Technology Corporation, and Pall Corporation. Majority of filter manufacturers in the automotive industry provide hydraulic filters along with engine filters. Increase in private equity investments and rise in merger & acquisitions of companies in the automotive sector are projected to drive the automotive hydraulic filter system market.