The competition amongst the players operating in the global automotive filters market is expected to intensify in the near future. The fragmented nature of competitive landscape likely to remain so due to an unstoppable influx of new players. The unprecedented rise of automotive sectors across the world as the global economy limps back to normalcy is projected offer many lucrative opportunities. Some of the leading players operating in the global market are MAHLE GmbH, Sogefi SpA, A.L. Filter, and MANN+HUMMEL GmbH.
According to Transparency Market Research, the global automotive filters market stood at US$ 4.14 bn in 2016 and is expected to reach US$ 6.83 bn by the end of 2025 as the market promises to surge at a CAGR of 3.24%. During the forecast period of 2017 and 2025, the global market for automotive filters will be driven by air filters as the levels of pollutions continue to rise relentlessly across the globe. The new wave of rising disposable income and soaring investments in the automotive sector are expected make Asia Pacific a clear winner amongst all the other regional markets.
Need for Better Fuel Efficiency Drives Demand for Automotive Filters
An automotive filter aids in extending engine life, as it competently traps dirt and debris that damages the internal parts of an engine such as pistons and cylinders. A small particle of salt can damage the engine, which further entails high repairing cost. Automotive filters enables proper air flow to the engine, thus maintaining optimal combustion through appropriate air-fuel mixture. The filter aids in enhancing the emission control system efficiency and simultaneously mitigates ignition problems in the spark plug which can give rise to austere drivability issues. Proper air flow enables the engine to function efficiently and effectively, thereby raising fuel efficiency and reducing harmful carbon emissions. These advantages are likely to propel the demand for automotive filters considerably during the forecast period from 2017 – 2025.
The growth of automotive filter market can be accredited to the rapidly growing and changing automotive industry supplemented by constant expansion of commercial vehicle fleet size, swelling passenger car sales as well as rise in purchasing power of consumers. Simultaneously, constant annual reduction in the ceiling cap for permissible carbon emissions is likely to attribute as a growth opportunity in demand for the filters globally. This rise in demand is estimated to increase in the near future, thereby augmenting the expansion of the automotive filters market.
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The market is also expected to be driven by the stringent nature of rules and regulations governing the growing problem of carbon emissions. As nations, both developed and developing, work toward creating a cleaner and greener tomorrow, they are likely to boost the demand for automotive filters in order to have fuel-efficient engines.
Development of Electrical Vehicles Likely to Drop Sales of Automotive Filters
On the flip side, the global automotive filters market is likely to face some tough challenges in the future. The wave of electronic vehicles that are driven by the batteries instead of fuel are expected to hold back the growth of the global market. The newer car models that eliminate fuel usage by using electricity are expected to have a negative impact on the sales of automotive filters. This issue is expected to gain momentum in the coming years as initiatives for greener and cleaner cities picks pace.