ID: MRFR/AM/2296-CR | 118 Pages | Published By Sejal Akre on October 2020
Automotive fuel filter market size is expected to witness a steady CAGR of 4.6% during the forecast period 2022-2030.This report contains all the information on the global automotive fuel filter market value, research, and market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global automotive fuel filter market analysis and forecast to 2030 is also included in the report.
Over the past few years, automobile engines have become advanced and more sophisticated across the globe. The majority of the engines used in a vehicle have a low sufferance level for irregular fuel quality; hence the requirement for the high quality of oil fuel filers for smooth engine running is increasing the demand for the automotive fuel filter market. These filters also play a very important role in managing carbon emissions and the initiatives of the respective governments around the globe in order to adherence the emission norms have boosted the growth of the global automotive fuel filter market. According to the latest research report, the global automotive fuel filter market size is expected to witness a steady CAGR of 4.6% between 2022 and 2030.
The outbreak of the global pandemic covid 19 crises, the market is predicted at US$1.5 Billion in the year 2020 and it is predicted to reach US$2.1 Billion by the end of 2027 with a growing CAGR of 4.6% over the forecast period 2022 to 2030. The gasoline segment is predicted to grow at a 4.9% CAGR to reach US$861.8 Million by the end of the analysis period. Based on the analysis of the business implications of the global pandemic and economic crises, the diesel segment is revised 4.4% CAGR for the next 7 years period. The current segments account for a 59.9% global automotive fuel filter market share.
The market is dominated by the major key players of the global automotive fuel filter market such as Denso Corporation, Parker Hannifin Corp, Mahle GmbH, Mann+Hummel, Hengst SE, Cummins Ltd, and among others. The major companies are investing in the expansion of their business through opening new production plants. UFI filters have been introduced which is predicted to create approximately 15% of the company’s revenue annually.
Major Key Players
The shift of demand from fuel-based vehicles to battery-electric or plug-in vehicles is considered as the major restraint for the global automotive fuel filter market because the electric vehicle does not consume fuels such as gasoline, diesel, and petrol.
Furthermost, the low maintenance cost of the electric vehicles decreases the expenses of the vehicle overall which ultimately boosts the demand for the batter electric vehicles and on the contrary decreases the demand for the automotive fuel filters in fuel-based cars.
Based on the statistical data of the German Federal Motor Transport Authority, the sale of electric vehicles has increased over 61% in the year 2018 as compared to the preceding year and 124% of rising has been recorded in the battery electric vehicle sales, on the other hand, the sale of traditional plug-in hybrids grew 70%. These types of vehicles don’t require any kind of fuel or fuel filter which is considered as the major challenge for the automotive fuel filter market.
The developments in the technological advancement in the filter media types and the cycle of replacements per vehicle is decreased Moreover, the rising demand for the production of vehicle will eventually lead towards the production of the more automotive filter.
According to the reports of ACEA, the production of the passenger car was 78,6Million in the Asia Pacific and North America segment and it is expected to be the leading regions. The latest automotive fuel filter market trend in the automotive fuel filter including brake dust filters and transmission filters is also predicted to contribute to the growth of the automotive fuel filter market.
Value Chain Analysis
According to the reports, the global automotive fuel filter market industry is segmented on the basis of the filter type, application, distribution channel, and region. On the basis of the fitter type, the automotive fuel filter market is segmented into fuel filter, engine oil filter, engine air filter, cabin air filter, steering filter coolant filter. The fuel filter segment is further distributed into gasoline filters and diesel filters.
On the basis of the application, the automotive fuel filter market is segmented into commercial vehicles and passenger vehicles. Commercial vehicles are further distributed into light commercial vehicles (LCV) and heavy commercial vehicles (HCV). Based on the distribution channel, the market is segmented into OEM and aftermarket.
The market is segmented on the basis of the filter type, application, distribution channel, and region. The global automotive fuel filter market is expected to witness decent growth during the forecast period.
Based on the application, the market is segmented into commercial vehicles and passenger vehicles. Commercial vehicles are further distributed into light commercial vehicles (LCV) and heavy commercial vehicles (HCV)
Based on the propulsion types, the market is segmented into OEM and aftermarket.
According to the reports, on the basis of the region, the global automotive fuel filter market is segmented into North America, Asia Pacific, the middle east, Europe, and South America. The Asia Pacific region is predicted to hold the maximum shares in the global automotive fuel filter market revenue between 2022 to 2030 due to rising demand for the automobile, and rise in disposable income of the individual. The North America region is predicted to witness the second-largest automotive fuel filter market share with a lucrative CAGR through the review period. The united states are the leading country-specific market in these regions due to the development of more manufacturing units in these regions.
The automotive fuel filter is responsible for cleaning dirt and rust particles from the fuel; it prevents them from entering the engines of the vehicles and keeps them clean and away from damages. The rise in concerns about carbon emission and the development of the new fuel types are the major factors for the growth of the global automotive fuel filter market.
The following report comprises of –
|CAGR||4.6% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Vehicle Type, Filter Material, Fuel Type, sales channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Donaldson Company Inc., Robert Bosch GmbH, Mahle Group, Denso Corporation, Sogefi SpA, K&N Engineering, Champion Laboratories Inc., Cummins Inc., FRAM Group IP LLC, Freudenberg & Co KG, Hengst SE & Co KG, Mann + Hummel GmbH, UFI Filters Spa|
|Key Market Opportunities||Government regulation for the safety of the environment, to decrease the carbon emission, and the rise in the demand for the vehicles in the developing countries or emerging economics|
|Key Market Drivers||Decrease the air pollutants from the vehicles by preventing the entry of exhaust fumes, bacteria, pollens and others in the engines and carburetor; it decreases the maintenance of the cost and extends the lifecycle of the vehicle|
The market CAGR is recorded for 5.05%
2022 and 2030 is the growth period of the market.
Automotive Fuel Filter Market expected to reach USD 2.1 Billion during the forecast period