Automotive Filters Market Size, Share & Growth Report, 2024-2031
Automotive Filters Market Share
The Global Automotive Filters Market reached US$ 10.8 billion in 2022 and is projected to reach US$ 13.6 billion by 2031, growing at a CAGR of 3.0% during the forecast period from 2024 to 2031.
The growth of the global automotive filters market is primarily driven by the rising automotive production. In response to significant consumer demand growth observed in the post-pandemic period, automakers are increasing the production of passenger and commercial vehicles.
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Automotive Filters Market Dynamics
Vehicle ownership rates have surged in recent years, particularly in emerging countries within the Asia-Pacific region, such as India and China. Sustained economic growth over more than a decade has led to improved income levels for ordinary citizens. Additionally, banks and credit institutions are offering more affordable vehicle financing options with attractive rates and convenient payment plans. Automakers are also launching new models at economical price points to increase market penetration and drive growth.
Various studies indicate that the average vehicle ownership duration is around seven years for passenger cars and up to fifteen years for commercial vehicles. This long ownership period generates significant demand for replacement components, such as automotive filters, in the aftermarket. With the rising rates of vehicle ownership, the demand for automotive filters is expected to increase in both the medium and long term.
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Automotive Filters Market Segmentations
By Filter Type :Air Filter, Fuel Filter, Oil Filter
By Vehicle Type :Passenger Vehicles, Commercial Vehicles, Two-Wheelers
By Sales Channel :OEM, Aftermarket
Key Players are:
Mahle GmbH
Robert Bosch GmbH
Denso Corporation
Donaldson Company, Inc.
Sogefi SpA
Parker Hannifin Corporation
Fildex Filters Canada
K&N Engineering, Inc.
Mann+Hummel
Hengst SE
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