Automotive Filters Market Revenues Will Expand At A CAGR Of 4.5% Between 2022 And 2032: Fact.MR

As per the latest intelligence report published by Fact.MR, the automotive filters market revenues will expand steadily between 2021 and 2031, following a CAGR of 4.5% and reaching US$ 27 Bn in value. As of 2021, the market is expected to be valued at above US$ 17 Bn, on the back of recovering automotive sales.

Historical data suggests that the market expanded at over 3% from 2016-2020. The market closed in at a value of US$ 16.7 Bn. Growth prospects remained contracted amid a general slowdown in the automotive industry as well the recessionary impact induced by COVID-19. A decline surpassing 5% was registered in global auto production according to International Association of Motor Vehicle Manufacturers.

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Fortunately, by 2025, the automotive filters market is expected to reach nearly US$ 24 Bn in value, as prospects across the automotive sector eventually improve. Manufacturers are further leveraging the ever tightening noose on environmental regulations, with governments mandating installation of emission regulation apparatuses across commercial and personal vehicles respectively.

Key Takeaways from the Market Study

  • Cabin air filters to register highest growth, recording a CAGR of 4.8% through 2031, capturing 60% revenue
  • By vehicle type, automotive filters for passenger cars to surpass a CAGR of 5% until 2031
  • Synthetic automotive filters to exceed revenues worth US$ 10 Bn by 2022, by filter media
  • By sales channel, IAMs to account for bulk of automotive filter sales, surpassing US$ 10 Bn in revenue by 2022
  • U.S emerged as a highly opportunistic market in 2020, accounting for 30% of global market share
  • From 2021 to 2031, China to remain most lucrative market, capturing 3/5th of global demand

“Encouraging governmental policies to aid the automotive sector is poised to boost the automotive filter demand simultaneously. Hefty investments in infrastructure sector will boost the passenger car and cabin air filter sales in forthcoming period,” comments a Fact.MR analyst.

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Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.

  • In April 2021, A prominent player, MANN+HUMMEL started using Nanofiber technology in-cabin air filters for Automotive applications reducing the number of pollutants that vehicle occupants breathe and thus improving the air quality in the vehicle cabin.
  • Similarly, Cummins Filtration has refined its Fleet guard LF14000NN combination lube filter for its newer engine platforms including Cummins X15 engines. Depending on the quality of oil used, the LF14000NN is capable of longer service intervals which can help fleets lower their operating costs on replacement filters throughout an engine’s life.

Key Segments Covered

  • Product Type
    • Automotive Fuel Filter
    • Automotive Oil Filter
    • Automotive Intake Air Filter
    • Automotive Cabin Air Filter
  • Filter Media
    • Synthetic Automotive Air Filter
    • Cellulose Automotive Air Filter
  • Vehicle Type
    • Automotive Filters for Passenger Cars
    • Automotive Filters for LCV
    • Automotive Filters for HCV
    • Automotive Filters for Off-Road Vehicles
    • Automotive Filters for Lawn Mowers
  • Sales Channel
    • Automotive Sales through OEMs
    • Automotive Sales through OESs
    • Automotive Sales through IAMs

Sales Analysis of Automotive Filters from 2016-2020 Vs Outlook 2021-2031

According to Fact.MR, the global market for automotive filters expanded at a steady pace, clocking a CAGR of over 3% from 2016 to 2020. Toughening standards on vehicular emissions has prompted this increase in sales across the historical period.

A general contraction in the global automotive industry since 2019 coupled with the outbreak of COVID-19 restricted growth prospects to a significant extent. The International Association of Motor Vehicle Manufacturers reported a decline of more than 5% in global automotive production in 2019. Imposition of lockdowns in H1 2020 further stalled prospects. However, since H2 2020, prospects showed a gradual resurgence as lockdowns began to be lifted.

However, the automotive market is poised to pick up acceleration after the economic downturn, supported by the latest advancements and hefty investments in the filters industry. It is projected to surpass the market worth of US$ 27 Bn by 2031.

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How are Stringent Automotive Standards Prompting Automotive Filters Usage?

The Environmental Protection Agency (EPA) in the U.S. has amended standards such as fuel economy standards for LCVs and the national program for greenhouse gas emissions for light-duty vehicles. Such regulations are analysed to drive the market in the forecast period 2021-2031.

Mounting concerns of vehicle owners about cautionary maintenance is one of the prominent demand drivers. Additionally rising average lifespan of vehicles, and surging miles driven per vehicle are expected to drive the growth of the global automotive filter market in the upcoming future.

Maintenance of the engine with regards to miles driven has furthered the drift of reducing vehicle downtime and long-term operating costs, which is projected to gain further traction in the years ahead, thereby rolling the growth of the global automotive filters market over the forecast period.

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Why choose Fact.MR?

Reports published by Fact.MR are a result of the combination of our experts and digital technologies. We thrive to provide innovative business solutions to the clients as well as tailor the reports aligning with the clients’ requisites. Our analysts perform comprehensive research to offer ins and outs of the current market situation. Clients across various time zones tend to utilize our 24/7 service availability.

Explore Fact.MR’s Comprehensive Coverage on Automotive Domain:

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