Automotive Filter Market to Reach $53.73 Bn, Globally, by 2024 at 3.9% CAGR - Allied Market Research
PORTLAND, Oregon, November 19, 2018 /PRNewswire/ --
Strict government regulations regarding environmental safety and increase in sale of automotive would boost the growth of the global automotive filter market
Allied Market Research published a report, titled, "Automotive Filter Market [https://www.alliedmarketresearch.com/automotive-filter-market ] by Filter Type (Fuel Filter, Engine Oil Filter, Engine Air Filter, Cabin Air Filters, Steering Filter, and Coolant Filter), Application (Passenger Cars and Commercial Vehicle), and Distribution Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2018-2024". The report offers in-depth analyses of the top investment pockets, drivers & opportunities, competitive landscape, and key strategic moves by key players. According to the report, the global automotive filter market was pegged at $41.1 billion in 2017 and is expected to garner $53.73 billion by 2024, registering a CAGR of 3.9% during the forecast period from 2018 to 2024.
(Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg )
Stringent government regulations for safety coupled with strict emission standards by regulatory bodies drive the growth of the global automotive filter market. However, growing adoption of electric vehicles hampers the market growth. On the contrary, surge in demand for vehicles in the emerging economies is expected to provide lucrative opportunities for the market in future.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/4654
Engine oil filter segment to portray highest revenue, engine air filter segment to grow the fastest
The engine oil filter segment held the largest share in 2017, contributing more than one-fourth of the total market revenue, as engine oil filter prevents contaminants such as dust particles and other unwanted substances from mixing with the engine oil. However, the engine air filter segment is expected to register the fastest CAGR of 5.2%, during 2018-2024, as it captures sand and other debris and prevents them from entering in the vehicle's engine. The other segments analyzed in the report are fuel filter, cabin air filter, steering filter, and coolant filter.
Commercial vehicles segment to dominate the market through 2024
The commercial vehicles segment is estimated to grow at a CAGR of 5.8% from 2018 to 2024, owing to high rate of replacement caused due to intensive travel. However, the passenger cars segment held the largest share in 2017, contributing about two-thirds of the total market revenue, owing to increase in pollution on account of rapid urbanization across the globe.
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/4654
Major distribution channels in the industry
OEM and aftermarket are the two major distribution channels discussed in the report. In 2017, the aftermarket segment contributed the largest share, holding about 85% of the total revenue, owing to affordable price of aftermarket filters and strong functionality in vehicles. However, the OEM segment is expected to register the fastest CAGR of 9.7% during 2018-2024, owing to increase in disposable income and rise in working class population in emerging economies.
Asia-Pacific to retain its largest market share through 2024
Asia-pacific held the largest share in the global automotive filter market, contributing about 43% of the total revenue, owing to expansion of the automotive sector and industrialization in emerging economies such as China and India. However, Latin America, Middle East and Africa (LAMEA) is expected to witness the fastest CAGR of 5.0% during the forecast period, owing to surge in technological developments.
Torchbearers of the market
The global automotive filter market report includes an in-depth analysis of the leading companies in the industry such as MANN+HUMMEL, Robert Bosch GmbH, Denso Corporation, Sogefi S.p.A., ACDelco, Inc., Toyota Boshoku Corporation, MAHLE GmbH, K&N Engineering, Hengst SE, and Valeo S.A.
Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree
Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.
Purchase an enterprise user license and get 1 month complimentary access to our Knowledge Tree subscription. Offer valid till 15th November 2018. (*Terms and Conditions apply)
Get subscription: https://www.alliedmarketresearch.com/checkout/158482
Similar Reports:
Automotive Hydrostatic Fan Drive System Market - Global Opportunity Analysis and Industry Forecast, 2018 - 2025 [https://www.alliedmarketresearch.com/automotive-hydrostatic-fan-drive-system-market ]
Automotive Catalyst Market - Global Opportunity Analysis and Industry Forecast, 2018 - 2025 [https://www.alliedmarketresearch.com/automotive-catalyst-market ]
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Photo:
https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
SOURCE Allied Market Research
