Global Oil Filter Market Is Expected To Thrive At A 5% CAGR During The Forecast Period (2021 To 2023)

As per Market Research Future (MRFR), the global oil filter market is expected to thrive at a 5% CAGR during the forecast period (2018 to 2023). The growing need for oil filters in the ever-expanding automotive industry is expected to favor the global oil filter market. The design of oil filters allows seamless cleansing of oil from destructive contaminants from essential car oils, such as engine oil, lubricating or hydraulic oil, transmission oil, thereby safeguarding oil-dependent systems. This is likely to fuel the expansion of the oil filter market. Oil filters are an integral part of all ICE engine driven motors that can be both on- and off-road vehicles. Hence, the growing need for vehicles is likely to bolster the oil filter market growth. The increase in trading activities, especially import and export activities, is observed to contribute significantly to the expansion of the global oil filter market.

Oil filters have a crucial role in the reduction of vehicle emission and enhance engine performance. This growing concern towards the environment is boosting the sales of oil filters. This is likely to impel the growth of the worldwide oil filter market. Other factors that are expected to induce growth are developments in the automotive infrastructure, increase in the production and sales of cars, stringency in environmental norms, rising concern over environmental protection and automobile emissions, and the increase in the need for miles’ drive. However, the need for continuous replacement of oil filters is tedious, but the willingness of people to maintain their automobiles that serve long-term benefit is expected to surge the oil filters market. On the downside, lack of skilled labor, increase in electric vehicle sales, and measures taken to phase out IC vehicles can impede the growth of the global oil filter market growth.

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Segmental Outline

The global oil filter market is assessed by filter media, filter type, sales channel, vehicle type, and fuel type. By filter type, the market is segmented into a hydraulic filter, engine oil filter, fuel filter, and others. By filter media, the market is segmented into synthetic, cellulose, and other oil filters. By vehicle type, the market is sectioned into a commercial vehicle and passenger car. By fuel type, the market is divided into diesel and gasoline. By sales channel, the market is sectioned into aftermarket and OEM.

Regional Outlook

The global oil filter market is assessed across Europe, Asia Pacific, North America, and the Rest of the World. The oil filter market in the Asia-Pacific region is expected to exhibit a sharp rise in its valuation in the assessment period. APAC is expected to hold a grand share of the global oil filter market in the review period, reveals MRFR. APAC is a big automobile manufacturing hub that is expected to support the growth of the APAC oil filter market. In addition, the firm automotive infrastructure is also expected to contribute significantly to the expansion of the regional market. The APAC governments are making deliberate to curb air pollution that is increasing the adoption of oil filters is expected to boost the growth of the APAC market. In North America, the availability of proper automotive infrastructure and technological developments are factors that are expected to propel the regional oil filter market.

Key Players

MRFR listed some well-established players of the global oil filter market. They are; A.L Filter (Israel), MAHLE GmbH (Germany), North American Filter Corporation (U.S.), MANN+HUMMEL GmbH (Germany), Fildex Filters Canada Corporation (Canada), Robert Bosch GmbH (Germany), Siam Filter Products Ltd., ALCO Filters Ltd. (Cyprus), Part. (Thailand), Filtrak BrandT GmbH (Germany), and Luman Automotive Systems Pvt. Ltd. (India).

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Key Questions Addressed by the Report

What was the historic market size?

Which segmentation (Product/ Capacity) is driving market?

What will be the growth rate?

How are the key players in this market?

What are the strategies adopted by key players?

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

3.1.1 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

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

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