Automotive filters are designed for the removal of contaminants from the fluids and gases in the vehicles. Fuel filters, air filters and oil filters are largely utilized in the automobile industries. The automotive filter market is anticipated to rise with a CAGR of about 8.3% during the forecast period of 2016-2023. The market has been valued at $5.0 billion by the year 2016 and is depicted to generate a revenue of about $9.5 billion by the year 2023. Rising awareness towards automotive filters for better fuel efficiency and engine life is promoting immense growth in the automotive filter market. Some other factors such as surging growth in the global automobile production, stringent government norms to reduce carbon emission, increasing growth in spare part market in Asia Pacific region also helps to promote the growth in the automotive filter market. Furthermore, rising sales in electric vehicles across the globe act as a major restraining factor in the automotive filter market.
Utilization of automotive filters has increased owing to benefits associated with them that includes improvements in the fuel efficiency of vehicle, lower carbon emission and enhancement in the engine performance and life. According to the study, utilization of air filters in trucks and their proper maintenance helps to save annual fuel cost by about $900 per truck. According to study, about 3%-4% of engine performance is enhanced after replacement of automotive filters. Regular maintenance of fuel filter and replacement of old filters with new filters is promoted by automotive manufacturers after every 30,000 to 40,000 kilometers. This has increased the awareness of many consumers for timely replacement of air, oil and fuel filter by many consumers in order to increase the engine performance and vehicle mileage.
The automotive filter market has been segmented by filter type and by applications. On the basis of applications the market has been bifurcated into passenger vehicles, light and heavy commercial vehicles and two wheelers. Application of automotive filters in passenger car is anticipated to be a leading segment due to the rising utilization of automotive filters in vehicles to increase fuel economy and life span of engine. Further on the basis of filter type the automotive filter market has been bifurcated into air filter, oil filter, fuel filter and cabin air filter. Air filter market is depicted to be the leading segment in the automotive filter market by filter type. Stringent government regulations for low carbon emission has helped to fuel the growth in the air filter market. Geographically the market has been segmented into various regions such as North America, Europe, Asia Pacific and rest of the world. Asia Pacific region has come up as a fastest growing market of automotive filters as a result of surging growth in the vehicle production and spare part market. On the other hand North America is a leading segment in the market due to high growth in the vehicle spare part market of US.
Some of the major players in the market includes ALCO filters, Hengst SE & Co. KG, Freudenberg & Co. KG, Robert Bosch GmbH, Lydall Inc., Toyota Boshoku Corporation, Mahle GmbH, Mann+Hummel, Clarcor Inc., Hollingsworth & Vose Co. Inc., ACDelco Inc., Denso Corporation, Cummins Inc., Donaldson Company Inc., Purofil Auto Pvt. Ltd and others. Companies are adopting the strategies like merger, acquisition, product launch etc. in order to sustain and expand in the market. On March 2016, Cummins Inc. and the Olayan group announced the formation of joint venture named as Cummins Arabia. The 50:50 venture will have distribution in three countries of the Middle East that includes Saudi Arabia, United Arab Emirates and Kuwait. The venture will combine the distribution of products of Cummins including engines, fuel systems and automotive filters and others in these three countries.