According to a new market report published by
Lucintel, the future of the global automotive filter market looks good with opportunities
in the OEM and aftermarkets. The global automotive filter market is forecast to
grow at a CAGR of 4.9% from 2016 to 2021. The major drivers of growth for this
market are increase in the production of vehicles, increasing focus of vehicle
owners on preventive maintenance, increasing average age of vehicles in
operation, and increasing miles driven per vehicle.
In this market, oil filter, air filter, fuel
filter, and cabin air filter are some of the major segments of automotive
filters. On the basis of its comprehensive research, Lucintel forecasts that the
fuel filter and cabin air filter segments are expected to show above average
growth during the forecast period.
Within the global automotive filter market,
the oil filter segment is expected to remain as the largest market. Rising vehicle
production and increasing demand from original equipment manufacturer (OEM) and
aftermarket is expected to spur growth for this segment over the forecast
period.
Asia Pacific is expected to remain the largest
market due to high vehicle production, improvement in the economic conditions,
and increasing investments by the industry players within the APAC region.
North America
and Asia Pacific are expected to witness significant growth over the forecast
period because of rapidly increasing demand of
filters in OEMs as well as the aftermarkets of China, India, and Germany.
For market expansion, report suggests innovation
and new product development to enhance the filter performance. The report
further suggests the development of partnerships with customers to create
win-win situations and development of low-cost solutions for customers.
Emerging trends, which have a direct impact on
the dynamics of the industry, include the development of filters with organic
materials, development of polyurethane-based adhesive filters, and customizable
air filter concept. Mann+Hummel Holding GmbH, Mahle International GmbH, Donaldson
Company, Inc., Sogefi SpA and NGK Insulators Ltd. are the major filter
manufacturers in the global automotive filter market. Some companies are opting
for merger and acquisition as strategic initiatives for driving growth. Lucintel offerings include mass
transportation, transportation
market report, strategic
growth consulting, commercial
due diligence report and marketing
research reports online.
Question: What
are the segments addressed in the report?
Answer: The segments in the report are as follows:
By product types ($ billion from 2010 to 2021):
·
Oil filter
·
Air Filter
·
Fuel Filter
·
Cabin Air Filter
By End Use ($ billion from 2010 to 2021):
·
OEM
·
Aftermarket
By region ($ billion from 2010 to 2021):
·
North America
·
Europe
·
Asia Pacific
·
Rest of the World
This
report answers following 11 key questions:
Q. 1 What are some of the most promising,
high-growth opportunities in the global automotive filter market by segments
and regions?
Q. 2. Which segments will grow at a faster pace
and why?
Q. 3. Which region will grow at a faster pace and
why?
Q.4 What are the key factors affecting market
dynamics? What are the drivers, challenges and business risks in this market?
Q.5. What are the business risks and competitive
threats in this market?
Q.6 What are emerging trends in this market and
reasons behind them?
Q.7 What are some of the changing demands and
needs of customers in the market?
Q.8 What are some of the new developments in
the market? Which companies are leading these developments?
Q.9 Who are the major players in this market?
What strategic initiatives are taken by key players for business growth?
Q.10 What are some of the competitive services and
processes in this area and how big of a threat do they pose for loss of market
share via materials / service substitution?
Q.11. What M & A activity has transpired in last
1 to 2 years, and describes its impact on the industry?
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