Automotive Oil Filter Market- Key Insights
- Global demand for automotive oil filter was valued at US$ 2,329.3 Mn in 2018. Automotive oil filter market continues to be driven by growing initiatives for curbing emission levels and reinvigorating engine life.
- Synthetic filters, which accounted for more than 30% revenue share of the filter media segment in 2017, will continue to be the highly-preferred over all other filter media types.
- Europe retains its position of the largest market for automotive oil filter in 2019 and beyond. European emission standards, which define the acceptable limits for exhaust emissions across the European countries, are likely to give a fillip to automotive oil filters adoption rate.
- MEA is anticipated to emerge as the fastest-growing market for automotive oil filter with promising opportunities for the manufacturers. Flourishing production of new vehicle models and increasing implementation of new and effective filter technologies are upholding growth of this regional market.
Automotive Oil Filter Market- Key Factors Driving Market Growth
- In line with the ever-increasing demand for vehicles, automotive industry ranks among one of the fastest growing industries worldwide. This, in turn, continues to be one of the key factors driving automotive oil filter market.
- Tougher regulations put in place for curbing carbon emissions is a key aspect necessitating adoption of high-quality automotive oil filters for seamless engine maintenance. Growing adoption of the automotive oil filters is estimated to create sustained opportunities for the companies operating in the market space.
- Vehicle owners across the globe are extensively focusing on preventive maintenance- the key to productivity & longevity of vehicles. Increasing preference for preventive maintenance of automobiles is envisaged to result in augmented adoption of effective oil filters for removal of harmful contaminants, propelling automotive oil filter market growth.
- Increasing average age of the vehicles in operation, owing to continual improvement of vehicles’ quality and associated functionalities, is a key aspect estimated to create potential opportunities for stakeholders in automotive oil filter market.
What are the Key Challenges Faced by Stakeholders in Automotive Oil Filter Market?
- Also known as pressure relief valves, right-sized bypass valves remain instrumental for impeccable functioning of an automotive oil filter. Curating optimum designs of bypass valves to uphold the functionality of an automotive oil filter continues to be a challenge for the market players.
- The automotive landscape is undergoing a sea change in growing inclination toward battery electric vehicles (BEVs). A cohort of factors, including technological advancements and changing customer perceptions, are providing impetus to adoption of BEVs, which is foreseen to challenge automotive oil filter market growth.
Automotive Oil Filter Market- The Competitive Landscape
- In 2017, Mahle GmBH- a German manufacturer of automotive parts- launched its latest and exclusive range of fuel filters with enhanced efficiency. Mahle unveiled these new filters and claimed an efficiency increase of nearly 4-6%. This move is a part of Mahle’s production launch and development strategies, which remain indispensable for organic growth of the company.
- In 2018, Denso Corporation- a Japanese manufacturer of automotive components manufacturer- made an official announcement of acquisition of EASE Simulation Inc., a company specializing in automotive diagnostics technology. EASE Simulation will be merging with Denso in a bid to develop industry-best aftermarket products, technology, and services.
Other players included in the report on automotive oil filter market are FRAM Group IP LLC, Sogefi S.p.A, Hengst SE & Co. KG, Robert Bosch GmbH, K & N Engineering, Inc., UFI FILTERS Spa, Champion Laboratories, Inc., Donaldson Company, Inc., Mann+Hummel GmbH, Cummins Inc., and Freudenberg & Co. KG.
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Manufacturers Focus on Development of Extended Life Oil Filters to Uphold Engine Efficiency
Increasing concerns of engine damage caused by the contaminants in oil continues to be a key factor fuelling investments in automotive oil filter market. Oil filters made of different types of filter media, including cellulose filter, synthetic filter, and others, are being adopted to uphold and boost the engine efficiency.
To meet the ever-evolving demand for extended oil change intervals, manufacturers in automotive oil filter market continue to focus on development of extended life oil filters.
Companies operating in automotive oil filter market space are channeling their efforts toward developing automotive oil filters of the highest quality standards using premium components. Moreover, key players in automotive oil filter market are also replacing metallic elements of oil filters with plastic ones in a bid to adhere to the pervasive trend of ‘light weighting’.
Automotive Oil Filter Market- Research Methodology
The research study on automotive oil filter market offers a comprehensive analysis and an in-depth opportunity assessment of the automotive oil filter market over the forecast period.
The research methodology used in the report on automotive oil filter market is a well-designed method combining two steps- primary and secondary research. The tested and proven research methodology used for compilation of report on automotive oil filter market makes the research study ‘one-of-its kind’.
The primary phase of the research methodology used for automotive oil filter market report involves in-person interactions with industry experts and key market participants. The secondary phase of the research methodology used for compiling automotive oil filter market report involves a detailed study of reliable sources, including journals, press releases, paid databases, company websites, and others.
The insights garnered for automotive oil filter market report are further verified by industry experts in a bid to avoid any sort of indiscrepancy. The credibility of intelligence in automotive oil filter market report can be ascribed to the proprietary research methodology of Fact.MR.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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