Oil Filter Market - Snapshot
An automotive oil filter plays an important role in improving engine life, as it competently traps dirt and debris from the fuel that damages the internal parts of an engine such as pistons and cylinders. The engine is likely to get damaged even by a small particle of soil, which may lead to costly repairs. Furthermore, lubrication is required for certain engine joints and components. Engine oil filters enable proper fluid flow to the engine and components, thus maintaining the quality of lubricating oil. They help enhance the emission control system and minimalize ignition problems, which can give rise to serious drivability issues. Proper fuel flow enables the engine to function perfectly, thereby reducing fuel consumption as well as emissions. These factors are likely to drive the demand for automotive oil filters considerably during the forecast period.
Increase in the industrialization, which is boosting the logistics industry, expansion of the IT industry, especially in metropolitan areas, increased population and migration towards urban areas for better job opportunities, thereby augmenting daily commutation, are all attributing toward increased production of commercial vehicles. Combustion of diesel produces harmful carbon and more greenhouses gases as compared to the combustion of gasoline and alternative fuels. Increased diesel combustion is likely to pose a threat to the environment. Deteriorating environmental conditions in some regions have raised serious concerns about the environment. Emission from vehicles leads to the production of greenhouse gases such as carbon dioxide and methane, which pollute the air, thereby causing several respiratory disorders. Regulatory bodies are imposing stringent environmental norms to curtail rising carbon emissions of automobiles. All these factors are likely to provide better opportunity for the oil filter market.
Lubrication and appropriate fluid supply is imperative for proper efficiency and better functioning of the engine. Filtration is an integral process for the supply of fluid before reaching the components, wherein hydraulic and other filters plays a crucial role. This, in turn, is anticipated to boost the hydraulic oil filter market for automotive. However, introduction of electric vehicles is likely to hamper the oil filter market during the forecast period. The global oil filter market for automotive is expected to expand at a CAGR of more than 3% between 2018 and 2026.
Usage of diesel as fuel is increasing as it has major applications in medium and heavy commercial vehicles. This, in turn, is estimated to increase the demand for automotive diesel fuel oil filters. The health of the engine is a major concern and lubrication done by the oil enhances the lifespan of the engine. Increased awareness about engine efficiency is expected to propel the oil filter market for automotive. Scheduled maintenance and services, which involve oil filter replacement, are likely to boost the oil filter market for automotive. Fuel filter is necessary to purify the fuel entering in the engine cylinder for proper combustion of fuel in the engine cylinder and curb carbon deposits.
Rise in vehicle miles driven in various regions impact the sales channel of the automotive oil filter market. Replacement and life of oil filter is directly proportional to the vehicle miles driven. Rising vehicle miles driven across globe, increases the frequency of replacement of oil filters. This is a primary reason for the large market share held by the aftermarket segment. Decline in car loan interest rates, availability of customized financial schemes, and increase in per capita income of consumers are some factors attributing toward the large market share held by the passenger vehicle segment of the automotive oil filter market. Increase in pollution levels and requirement for high efficiency cars are likely to boost the demand for these filters during the forecast period.
In 2017, Asia Pacific held a prominent share of the global oil filters market for automotive. The market in Latin America is expected to witness significant expansion, owing to the increase in production of vehicles in countries of Latin America. Key factors that are driving the market in these regions are an increasing need for efficiency and productivity coupled with the stimulus to increased industrial activities. IC engine vehicle production is high in Asia Pacific countries such as China, Japan, and Korea, which are simultaneously paying more emphasis on the commercialization of electric vehicles and fuel filter and engine oil filter segments of the market in these countries are likely to expand at a moderate growth rate during the forecast period. Increasing production of passenger vehicles in emerging countries such as India and Indonesia, owing to several factors such as lower cost of production, better economic condition, better GDP per capita income, launch of affordable car models targeting the low income groups, launch of app based cab facility such as OLA, Uber, and lowered car interest rates are anticipated to drive the automotive oil filters market in Asia Pacific region during forecast period.
The oil filter for automotive market witnesses the presence of several players, as manufacturing of oil filters is not a highly complicated and expensive affair. Numerous regional players dominated the market for particular applications and the aftermarket segment. Major players operating in the global oil filter market for automotive include Sogefi SpA (Italy), MAHLE GmbH (Germany), MANN+HUMMEL GmbH (Germany), A. L. Filter (Israel), Robert Bosch GmbH (Germany), Donaldson Company, Inc. (U.S.), North American Filter Corporation (U.S.), Fildex Filters Canada Corporation (Canada), K&N Engineering, Inc. (U. S.), Filtrak BrandT GmbH (Germany), Luman Automotive Systems Pvt. Ltd. (India), ALCO Filters Ltd. (Cyprus), and Siam Filter Products Ltd., Part. (Thailand). Key players are focusing more on mergers and acquisitions with regional players in order to expand their business. Several prominent players are concentrating more on R&D activities in order to improve the functionality and efficiency of the oil filter.
Oil Filter Market- Overview
This report analyzes and forecasts the market for automotive oil filters at the global and regional level. The market has been forecast based on revenue (US$ Mn) and volume (Million Units) from 2018 to 2026. The study includes drivers and restraints of the global oil filter market for automotive. It also covers the impact of these drivers and restraints on the demand for automotive oil filters during the forecast period. The report also highlights opportunities in the oil filter market for automotive at the global and regional level.
The report comprises a detailed price trend analysis, government regulatory scenarios, value chain analysis, which provides a comprehensive view of the global oil filter market for automobile. The Porter’s Five Forces model for the oil filter market for automotive has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global oil filter market for vehicles by segmenting it in terms of type, fuel type, vehicle, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for automotive oil filter in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers the demand for individual application segments in all regions.
The study includes company profiles of major players operating in the global oil filter market for automotive. Key players in the oil filter market for automotive include Sogefi SpA (Italy), MAHLE GmbH (Germany), MANN+HUMMEL GmbH (Germany), A.L. Filter (Israel), Robert Bosch GmbH (Germany), Donaldson Company, Inc. (U.S.), North American Filter Corporation (U.S.), Fildex Filters Canada Corporation (Canada), K&N Engineering, Inc. (U.S.), Filtrak BrandT GmbH (Germany), Luman Automotive Systems Pvt. Ltd. (India), ALCO Filters Ltd. (Cyprus), and Siam Filter Products Ltd., Part. (Thailand). Market players have been profiled in terms of attributes such as competitive landscape, manufacturing footprint, company overview, financial overview, business strategies, and recent developments. The market for automotive oil filter is primarily driven by the rising demand for eco-friendly vehicles.
The report provides the estimated market size of automotive oil filter for 2017 and forecast for the next nine years. The global market size of automotive oil filter has been provided in terms of revenue and volume. Market numbers have been estimated based on key fuel type, filter type, vehicle type, sales channel, and regional segments of the oil filter market for automotive. Market size and forecast for each major type and vehicle have been provided in terms of global and regional/country markets.
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, revenue share for particular business segment, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports, American Automobile Association, European Automobile Manufacturers Association, Automotive Research Association of India, Organization International des Constructeurs d'Automobile (OICA), Factiva, etc.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
The global oil filter market for automotive has been segmented into:
Oil Filter Market for Automotive, by Fuel Type
Oil Filter Market for Automotive, by Filter Type
- Fuel Filter
- Engine Oil Filter
- Hydraulic Filter
- Others (Coolant Filter, Etc.)
Oil Filter Market for Automotive, by Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Electrical Vehicles
Oil Filter Market for Automotive, by End-use
Oil Filter Market for Automotive, by Geography: The market is broadly segmented based on geography into:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa