Automotive filters market size 2022-2029
The automotive filters market is projected to reach USD 24 billion by the end of 2029. The global demand for high quality and cost-effective automotive filters is expected to continue to rise from 2019 onwards on the back of growing vehicle production rates.
Introduction: The report analyzes the opportunities in the automotive filters market by type (air, oil, fuel), end user (passenger vehicles, commercial vehicles), and region (North America, Europe, Asia Pacific).
The report covers the business segments of automotive filters, automotive filter manufacturing companies and automotive filter suppliers based on market value. It also provides insights into distribution channel, which includes distributors, dealers, and retailers.
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The Automotive Filters Market is expected to reach USD 24 billion by the end of 2029, at a CAGR of 7.4% from 2022 to 2029.
The global automotive filters market is driven by the growing demand for cleaner and cleaner road as well as stringent emission norms, which are increasing reduction in exhaust particle size while increasing the performance of catalytic converters. In addition, the rise in oil prices coupled with the need to reduce fuel consumption and increase vehicle mileage are also boosting the demand of automotive filters.
In addition to the aforementioned factors, high cost of producing automotive filters is expected to drive market growth during the forecast period. The heightened price of producing automotive filters is the result of high cost of raw materials such as PP, co-polymer, etc. Additionally, stringent environmental regulations and increasing demand for low sulfur content paints are further adding to the cost of producing automotive filters.
However, the high volatility in petroleum prices and the presence of some challenges encountered during manufacturing are also expected to hamper market growth during the forecast period.
The report provides an overview of the factors that are driving and restraining the growth of the automotive filters market. It also analyzes the impact these factors are expected to have on the demand from 2022 to 2029. The study provides forecasts for each of these factors, as well as evaluating their effect on the market during this period.
The Automotive Filters Market has been segmented into seven major types including Air Filters, Fuel Filters, Oil Filters, Water Filters and others. By type, the market has been segmented into Air Filters, Fuel Filters and Oil Filters.
In terms of end-users, the automotive filters market is expected to have the following segmentation: Passenger Vehicles and Commercial Vehicles.
North America is expected to dominate the global automotive filters market in terms of revenue during the forecast period. The U.S. is anticipated to be the largest contributor to the demand for automotive filters in North America during the forecast period.
This report is a source for comprehensive analytics on the Automotive Filters Market.
watch by youtube: Automotive Filters Market worth $23 6 billion by 2025