Car Oil Filter Market: Europe Estimated to Project Dominance Though the Period o
Posted by Arslan on February 18th, 2019
Global car oil filter market is driven by many factors. The rising automotive industry is a prime aspect which drives the growth of the car oil filter market. Certain government regulations regarding the manufacturing of vehicles has forced the manufacturers to implement improvements in the design aspect of the engine and along with the technological changes and advancements in the oil filter domain, this has imparted support to the growth of the car oil filter market. As far as vehicles are concerned, the increase in the passenger cars has triggered the growth of the car oil filters. Moreover, public awareness regarding the safety of the engines of their vehicles and the benefits of oil filters such as removal of contaminants, ensuring good engine health and enhance the life of the components within the engine has spurred the growth of the global car oil filter market.
However, the challenge faced by this sector is the introduction of the electric cars which do not need oil filters. Another challenge cum opportunity is the life of the filter. It has low life and has to be replaced but the opportunity aspect is that it needs to be changed frequently and this can be beneficial to the manufacturers of the filters. Europe region shows great potential and market share by 2022 end. The Asia-Pacific excluding Japan (APEJ) region shows higher growth rate during the period of forecast.
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Premium Ties with Luxury in Terms of Growth, yet Luxury Enjoys an Upper Hand
The premium passenger cars segment and luxury passenger car segment by vehicle type reflect same compounded annual growth rate of 3.1% throughout the forecast period of 2017-2022, however, the market share by revenue of luxury passenger car segment is almost four times than that of the premium cars segment. The luxury passenger car segment by far, has the highest market share compared to all other segments. The compact passenger car segment is next in line from growth rate point of view with a medium market share on a global basis, yet it can register a loss in the BPS by 2022-end. The luxury passenger car segment is poised to enjoy a higher BPS than any other passenger car segment in vehicle type in the global car oil filter market
Anti-Drain Black Seal to Seal its First Position; Canister Left Behind
The anti-drain black seal segment by product type is expected to grow at the highest pace to reflect a modest CAGR of 3.9% leaving canister segment at the second position. The market share by revenue of anti-drain black seal segment is lower than the canister segment but it can be inferred that the anti-drain black seal segment can attain a much better position in terms of market share by the end of 2022.
The report also profiles companies that are expected to remain active in the expansion of the global car oil filter market through 2022, which include MAHLE GmbH, Robert Bosch GmbH, Denso Corporation, Donaldson Company Inc., Mann Hummel GmbH, Sogefi SpA., Hollingsworth and Vose Company, K&N Engineering Inc., Ahlstrom Corporation, Alco Filters ltd., Cummins Inc., Hengst SE and Co. KG, Freudenberg & Co. KG, UFI Filters SpA and Champion Laboratories Inc.
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About the AuthorArslan
Joined: December 18th, 2017
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