Automotive Filters Market To Expand With A CAGR Of 6.7% From 2017 To 2025Posted by johnson on November 24th, 2017 According to a new market research report published by Credence Research “Automotive Filters Market (Filter Type – Air Filter, Oil Filter and Fuel Filter; Vehicle Class – Two wheelers, Passenger Cars and Commercial Vehicles (LCV, HCV & Offroad); Sales Channel – Original Equipment Manufacturers (OEMs) and Aftermarket Sales) – Growth, Future Prospects and Competitive Analysis, 2017 - 2025”, the global automotive filters market is set to expand with a CAGR of 6.7% through the forecast period of 2017 to 2025. Browse the full report at http://www.credenceresearch.com/report/automotive-filters-market Market Insights Automotive filters are responsible for efficient functioning of various automotive modules including engine, suspension, transmission, HVAC and several others. These are primarily used for filtering air (entering engine as well as vehicle cabin), engine oil and fuel. Due to growing need for more efficient and environment friendly vehicles, automotive filters have gained immense significance over the period of time. The overall automotive filters market is highly driven by the consistently rising automotive production across the world. Despite the automotive industry slowdown, the Asia Pacific region has managed to maintain its growth pace, in terms of automotive production and consumption. Subsequently, continued anticipated growth in the overall automotive sector is estimated to generate steady demand for automotive filters in the following years. Another major factor fueling the market growth is tightening environment regulations on vehicle emissions. Increasing concerns regarding air pollution would escalate the demand for more efficient automotive filters in the following years. However, one of the major concerns for the automotive filters industry is the steadily rising popularity of electric vehicles. Growing penetration of electric vehicle eliminates the need for automotive filters and hence poses significant threat. Nevertheless, the impact is projected to remain minimal due to relatively slow pace of electric vehicles adoption across different regions. The overall automotive filters market is segmented on the basis of filter type, vehicle class and end-user. Based on the filter types, the market is further classified into air filters, oil filters and fuel filters. The air filters segment is further categorized into engine air filter and cabin air filter. Currently, the market is dominated by the air filters segment. On the basis of vehicle class, the market is segmented into two wheelers, passenger cars and commercial vehicles. As of 2016, the market is led by the passenger cars segment, contributing to more than forty percent of the total market revenue. Further, the automotive filters market is categorized, on the basis of end-users, into OEMs and aftermarket sales.
About Us: Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we've manufactured a firm extraordinarily prepared to this task. Who we are Credence Research is a worldwide firm, containing more than 15 research consultants and almost 100 research and information professionals. Our customers mirror our worldwide nature. Around 45% are in Europe, 30% in the Americas, 13% in Asia Pacific and 12% in the Middle East and Africa. Our firm is intended to work as one. We are a solitary global research organization united by a solid arrangement of qualities, concentrated on customer effect. Contact: Name: Chris Smith (Global Sales Manager) Address: 105 N 1st ST #429, SAN JOSE, Ph.: 1-800-361-8290 Website: http://www.credenceresearch.com Like it? Share it! More by this author |