Oil Filter Market Overview:
Oil filter is designed to cleanse oil from destructive contaminants such as transmission oil, lubricating or hydraulic oil, engine oil, and oil-dependent systems. In the automotive industry, an oil filter is considered as an integral part of all ICE engine driven on- and off-road motor vehicles. An oil filter in plays an important role to enhance engine performance and reduce vehicle emissions. The increasing vehicle running and pollution level due to rising dust particles in the atmosphere has made the replacement of an oil filter by every four to six months imminent. This replacement is desirable to avoid wear and tear of the oil pump’s machined components and damage of the bearing surfaces in the engine.
Global Oil Filter Market held a market is expected to grow at 5% CAGR during the forecast period.
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Key Players:
The prominent players in the global Oil Filter market include MAHLE GmbH (Germany), A.L Filter (Israel), MANN+HUMMEL GmbH (Germany), North American Filter Corporation (U.S.), Robert Bosch GmbH (Germany), Fildes Filters Canada Corporation (Canada), Filtrak BrandT GmbH (Germany), Siam Filter Products Ltd., Part. (Thailand), ALCO Filters Ltd. (Cyprus), and Luman Automotive Systems Pvt. Ltd. (India).
The key driving factors of this market are improving automotive infrastructure, particularly in developing regions, increasing production and sales of vehicles globally, stringent environmental norms, increasing concern over environmental safety and vehicle emissions, and growing miles drive. Growing commercial vehicle demand globally, improving the economy, growing population, and rising purchasing power of people from countries like China, India and Middle East countries are providing ample opportunities to the growth of this market. However, the lack of skilled labor, increasing electric vehicle sales, and measures taken by major countries to phase out internal combustion vehicles in the near future could pose a threat to the market.
Oil Filter Market Segmentation:
The global oil filter market is segmented on the basis of filter type, filter media, vehicle type, sales channel, fuel type, and region.
On the basis of filter type, the market has been segmented into fuel filter, engine oil filter, hydraulic filter, and others.
On the basis of filter media, the market has been segmented into cellulose, synthetic, and another oil filter.
On the basis of vehicle type, the market has been segmented into a passenger car and commercial vehicle.
On the basis of fuel type, the market is segmented into gasoline and diesel.
On the basis of sales channel, the market has been segmented into OEM and aftermarket.
Regional Analysis:
Geographically, the global Oil Filter Market has been segmented into four major regions namely North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is estimated to hold the largest market share during the forecast period owing to improving automotive infrastructure and increasing government efforts and incentives to curb vehicle emissions across the region. Moreover, growing disposable incomes in India and China is expected to boost the demand for oil filter in this region.
Growth Factors:
The increasing oil filter aftermarket due to easy replacement and low cost of replacing parts is driving the growth of this market. Furthermore, the growing investment by filter manufacturers in research and development in order to cope up with advanced automotive filter is also contributing to the growth of this market.
The rising adoption of oil filters in order to improve engine life and vehicle safety, increasing vehicle running, and rapidly growing global automotive sector automotive sector in developing regions are considered as the key driving factors for the growth of this market.
Table of Contents
1. Executive Summary
2. Scope of The Report
2.1. Market Definition
2.2. Scope of The Study
2.2.1. Definition
2.2.2. Research Objective
2.2.3. Assumptions
2.2.4. Limitations
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Model
3. Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat of New Entrants
3.1.2. Bargaining Power of Buyers
3.1.3. Threat of Substitutes
3.1.4. Segment Rivalry
3.1.5. Bargaining Power of Buyers
3.2. Value Chain/Supply Chain Analysis
Continued…
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