Automotive Filter Market Size is anticipated to reach at a CAGR of 6.3% during the forecast period


Posted March 7, 2023 by Jameslin

The Global Automotive Filter Market to witness significant growth at 6.3% CAGR during the 2022-2030 period.

 
The Global Automotive Filter Market to witness significant growth at 6.3% CAGR during the 2022-2030 period.
By the end of 2030, the market is anticipated to reach a value of $26.9 billion, driven largely by demand from emerging markets and aftermarket auto sales. According to projections from the International Energy Agency (IEA), the number of electric vehicle (EV) sales will quadruple in 2021 to reach close to 6.6 million. Because of the EVs' predicted expansion, less people are buying new cars, which have resulted in a record-breaking increase in used cars and a growing aftermarket.

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Therefore, even though EV disruption is still in the near future, it can be greatly overstated. For instance, sales of EVs have decreased significantly in several of the world's biggest auto markets, such as China, as government subsidies have dried up. Meanwhile, a lack of public transportation systems continues to be a major factor in the global preference for traditional vehicles.
Filtration devices called automotive filters, or simply car filters, are used to remove contaminants like dust, carbon, and excessive heat, among others. These filters are made to increase or sustain fuel flow and give the engine the necessary efficiency. Fuel, oil, cabin, and air filters are a few examples of typical automotive filters. If the development of EVs really takes off as anticipated, certain filters, such as fuel and oil filters, may become extinct when they enter the realm of transportation.
Automotive Filter Market: Notable Developments
"For the next 10 years, we do not envisage a disruption to our business from new technology like the EVs," the firm spokeswoman said. In order to address the rising demand from OEMs and component manufacturers, the company has also expanded into new technological fields like vulnerability management and compliance validation.

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Automotive Filter Market: Product Insights
There are now two main categories of car filters available. These filters are composed of synthetic and cellulose media. Because of their affordability, the cellulose media filters have dominated significant portions of the market. Nonetheless, synthetic media filters continue to gain popularity because of their superior performance, larger flow area, and reduced sensitivity to water. Because of their excellent performance and improved fuel efficiency, these filters are a perfect match for the environment's escalating green legislation.
Automotive Filter Market: Regional Highlights
North America, Europe, Asia Pacific, South America, and the Middle East & Africa are just a few of the major geographical areas that the automotive filter market research divides the world into. Of them, North America is anticipated to contribute the lion's share of the overall profits. The area continues to have one of the biggest auto marketplaces in the world, and aftersales are still at an all-time high.
Automotive Filter Market: Market Landscape
While concentrated market shares continue to be a significant aspect of the global landscape, the automotive filter market promises to be competitive for new entrants. Despite the fierce competition, this is still a favorable time to enter the automotive filters industry as frontiers of EV development give door to innovation. Robert Bosch GmbH, DENSO Corporation, General Motors, Hengst SE, Sogefi, and Toyota are a few of the market's top competitors.

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Issued By James Lin
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Categories Automotive , Industry , News
Tags automotive filter market , automotive filter market size , automotive filter market share , automotive filter market news
Last Updated March 7, 2023