The EU28 filters aftermarket is set to see growth in unit shipment, in line with VIO growth. The growing penetration of alternative powertrains, electric-based powertrains in particular, limits overall growth. Higher demand for higher-spec filters allows for marginal improvement in some filter types. This causes revenues growth to outperform unit shipment growth.
Higher growth is forecast to take place in the premium cabin air filter segment, a sweet spot for revenue and unit shipment growth. With the growing penetration of electric vehicles and cabin air filters being powertrain independent, the demand patterns for cabin air filters will be more stable than for internal-combustion-dependent filters.
The uptake of in-tank fuel filters has an negative effect on the demand for inline and cartridge filter types over the forecast period but offers portfolio opportunities for manufacturers of in-tank fuel filters.
Market consolidation is reflected in the competitive landscape with limited changes in the top 3 performer line up. Only inorganic growth has the potential to shuffle rankings.
As for developments in the distribution landscape, manufacturers must watch the development of WD’s own brand filter product offerings. Those filters are price-aggressively placed and can replace traditional products, in line with the growing dominance of WDs within the distribution chain. This is of particular importance, as WDs are the main channel of filter distribution in the aftermarket. The price-aggressive strategy works best for highly commoditized filter types, like air intake filters.
Key Issues Addressed
- What is the filter aftermarket size, in terms of unit shipment and filter type? How will it grow?
- What is the aftermarket size of filters, in terms of revenue and filter type? How will it grow?
- What is the average manufacturer-level pricing for filters, by filter type? How will it grow?
- What is the distribution channel analysis for filters, by filter type?
- What product shift is taking place between now and 2025 in each filter vertical?
- What is the market share of the major manufacturers of filters?