Report Ocean has recently added a new research report to its repository. According to this study, the global automotive oil filter market will soar higher over the period of 2020-2027. The market, which stood at US$3.06 bn in 2019, is expected to increase at an impressive growth rate of 4.72% between 2020 and 2027.
The report is titled “Global Automotive oil filter market Size study, by Filter Media (Cellulose, Microglass, Polyester, Felt, Paper), by Technology Type (Suction Filters, Pressure Filters), by Operation Type (Disposable, Reusable), by Distribution Channel (Online, Offline), by Vehicle Type (Passenger Cars, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), Agricultural Vehicles), by Sales Channel (Original Equipment Manufacturers (OEMs), Aftermarket), by Transmission Type (Manual Transmission, Automatic Transmission, AMT (Automated Manual Transmission), Dual Clutch Transmission, Continuously Variable Transmission (CVT), EVT & BEV) and Regional Forecasts 2020-2027.”
The global automotive oil filter market derives most of its growth from the government enforced strict norms regarding vehicular emissions across a number of countries. The alarming rise in carbon footprints and increasing pollution in the environment have concerned the governments and people alike and compelled them to take efficient measures, such as usage of oil filter in automobiles, to curb carbon emission. Apart from this, the surging utilization of personal vehicles for daily commutes, increasing sales of electric and hybrid vehicles, and the rise in vehicle PARC and Miles are also adding to the progress of this market substantially. However, heightened prices of fuel, such as diesel and petrol, are projected to obstruct the market trajectory over the next few years, states the research report.
The market study also offers a detailed regional analysis of the worldwide automotive oil filter market. As per the study, the market is spread across Asia Pacific, North America, Europe, Latin America and the Rest of the World. Thanks to the high concerns over environmental pollution and the rising knowledge of oil filter’s benefits among consumers, North America has established itself as the leading regional market. Experts suggest that it will remain seated on the top during the forecast period.
The automotive oil filter market in Asia Pacific is also expected to witness a high growth rate in the near future due to the increasing demand for new and advanced vehicles in developing economies, presence of stringent government regulations on vehicular emissions, and the increasing usage of personal vehicles for day-to-day commutes, reports the study.
Impact of Covid 19 on Global Automotive Oil Filter Market
The COVID-19 pandemic has turned a catalyst to the economic slowdown across the world. Among the most hit industries from this pandemic is the automotive industry and markets under its bandwidth. The growth trajectory of the global automotive oil filter market has taken a zigzag route for now. While the first quarter of 2020 showed immense potential, the market experienced a significant decline in the second and third quarter. With the production and trade of automobiles being stopped and restriction imposed on travel and transportation in a number of countries, the demand for automotive oil filters dropped substantially. It also resulted in disrupted supply chain of automotive components and delayed delivery, which has hindered the market’s growth as well. However, as the situation gets under control, the market will gain its previous momentum soon.
- Government enforced strict norms regarding vehicular emissions fuels the demand for automotive oil filters.
- North America has established itself as the leading regional market. Experts suggest that it will remain seated on the top during the forecast period.
- The automotive oil filter market in Asia Pacific is also expected to witness a high growth rate in the near future.
The global automotive oil filter market is segmented into:
By Filter Media
By Technology Type
- Suction Filters
- Pressure Filters
By Operation Type
By Distribution Channel
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles (LCVs)
- Heavy Commercial Vehicles (HCVs)
- Agricultural Vehicles
By Sales Channel
- Original Equipment Manufacturers (OEMs)
By Transmission Type
- Manual Transmission
- Automatic Transmission
- AMT (Automated Manual Transmission)
- Dual Clutch Transmission
- Continuously Variable Transmission (CVT)
- EVT & BEV
- North America
- Asia Pacific
- Latin America
- Rest of the World
Companies Mentioned in the Report
- MAHLE GmbH
- Donaldson Company Inc.
- AC Delco
- Tenneco Inc.
- Toyota Boshoku Corp.
- Parker Hannifin
- Hengst SE
- ZF Friedrichshafen AG
- Cummins Filtration
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