Published on : May 15, 2018
Albany, New York, May 15, 2018: A novel study, focusing on the current as well as future prospects of the global oil filter market has been publicized to the online repository of Market Research Hub (MRH), which is titled as “Oil Filter Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026”. The study offers a holistic outlook on the market’s growth in terms of revenue in US$ Million and in terms of volume in thousand units across different geographical regions. Regions highlighted in this study are Asia Pacific, North America, Middle East & Africa, Latin America and Europe.
As the name implies, the oil filter is a filter designed to remove contaminants from engine oil, transmission oil, lubricating oil, or hydraulic oil. It 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. One of the prime benefits of the oil filter is that they help in enhancing the emission control system and diminish ignition problems, which can give rise to serious drivability issues. These factors are likely to drive the demand for automotive oil filters significantly during the forecast period.
According to the research key outcomes, the global oil filter market for automotive is expected to expand at a CAGR of more than 3% between 2018 and 2026 and expected to reach US$ 5.3 Bn by 2026 end. The research also finds that the health of the engine is a major concern in the automotive industry and lubrication done by the oil enhances the lifespan of the engine. Increased awareness about engine efficiency is expected to drive the oil filter market for automotive rapidly.
In the study, the readers can access data about the executive summary that covers market snapshot to enlighten them about the motive of the study. Other important facets studied in this section include market dynamics, segmentation and competitive strategies. Looking to the current market scenario, analyst has found that stringent carbon emission norms, leading to lowered carbon emission levels, are expected to propel the overall oil filter market for IC engine vehicles.
The oil filter market for automotive can be segmented based on fuel type, filter type, sales channel, and vehicle type. By fuel type, the study finds that diesel segment is likely to dominate the market by the end of the forecast period. Geographically, the market in Latin America is expected to witness significant expansion, owing to the increase in production of vehicles.
At last, the concluding section of the report deals with the company market share analysis of key players operating in this industry. As reported, some of the chief players dominant in the oil filter market for automotive include Robert Bosch GmbH (Germany), North American Filter Corporation (U.S.), Fildex Filters Canada Corporation (Canada), MANN+HUMMEL GmbH (Germany), K&N Engineering, Inc. (U.S.), Filtrak BrandT GmbH (Germany), Sogefi SpA (Italy), MAHLE GmbH (Germany), Luman Automotive Systems Pvt. Ltd. (India), ALCO Filters Ltd. (Cyprus), and Siam Filter Products Ltd., Part. (Thailand).
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