Persistence Market Research’s latest report projects that global demand for automotive filters will remain steady in the years to come.
New York, NY -- (SBWIRE) -- 01/10/2018 -- Rising sales of automobiles, coupled with rampant pace of global vehicle production, has secured the demand for automotive filters in the future. In 2017 and beyond, preventing mechanical wear & tear of component parts and avoid oil, fuel and air contamination will remain to be key maintenance stipulations for automobiles. Persistence Market Research's latest report projects that global demand for automotive filters will remain steady in the years to come. By the end of 2025, the global automotive filters market is poised to reach a value of US$ 17,651.7 Mn.
According to the report, titled "Automotive Filters Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 – 2025," between 2017 and 2025, around 2,700 million units of automotive filters will be sold across the globe. The report projects the global automotive filters market to reach US$ 11,623 Mn value by the end of 2017, recording the sales of around 1,848 million units. Over this forecast period, the global automotive filters market is estimated to reflect a value CAGR of 5.4%, and a volume CAGR of 4.8% – representing a steady growth momentum.
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Factors Impacting the Sales of Automotive Filters
Increasing health awareness among automobile owners and people, in general, promotes the use of automotive filters for their purification benefits. Stringent emission norms compel automakers to prioritize the inclusion of automotive filters, which is further facilitated by their added budget for "green" spending. However, this soaring demand for automotive filters is also expected to come across hindrances.
In North America, electric vehicles are in great demand and car buyers in US and Canada are interested in minimizing environmental pollution. Since electric vehicles are equipped with only cabin air filters, the need for other automotive filters gets annulled. Thus, automotive filter manufacturers are restrained from penetrating the market for these vehicles.
In parts of the world such as Latin America, the demand for automotive filters is falling in parallel to the region's declining vehicle sales. Slowdown in government fleet sales, economical turbulences, and dipping purchasing powers of individuals has incidentally lowered the demand for automotive filters in such regions.
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Global Automotive Filters Market – Highlights of the Forecast
In 2017, North America and Europe are expected to collectively dominate the global market with close to 60% share in revenues. Over the forecast period, sales of automotive filters in Asia-Pacific and Middle East & Africa will register speedy growth at 9.2% CAGR and 7.5% CAGR respectively.
While demand for fuel filters, oil filters and intake air filters plunges, sales of cabin air filters will bring in global revenue worth over US$ 5,600 Mn by the end of 2025.
Throughout the forecast period, sales of automotive filters accounted by passenger cars will dominate with approximately 70% share in global revenues. Likewise, synthetic filter media will also dominate global automotive filter sales with more than 60% share in global market revenues through 2025. The demand for automotive filters containing cellulose filter media is also expected to gain traction across the globe.
The report also reveals that independent aftermarket will be the largest sales channel for automotive filters in the world, and accounted for sales of more than 820 million units in 2016. The report further profiles leading players in the global automotive filters market, which include MAHLE GmbH, Robert Bosch GmbH, Denso Corporation, Donaldson Company Inc., Mann Hummel GmbH, FRAM Group IP LLC, Sogefi S.p.A, Hollingsworth & Vose Company, K&N Engineering Inc., Ahlstrom Corporation, Airmatic Filterbau GmbH, Alco Filters Ltd., Cummins Inc., Hengst SE & Co. KG, Freudenberg & Co. KG, EuroGielle S.r.l, Valeo SA, UFI Filters, Champion Laboratories, ACDelco.
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