This market research report presents a detailed segmentation of the global oil filter market by end user (passenger cars, commercial vehicle, two wheelers, and others) and by geography (APAC, North America, and Western Europe). The research report also outlines the market shares of key vendors in the market, including Ahlstrom, Clarcor, DENSO, MAHLE, and MANN+HUMMEL.
Technavio’s market research analysts estimate the global oil filter market to grow at a CAGR of almost 5% between 2016 and 2020. The increase in demand for commercial vehicles and the rise in emission regulators are the primary drivers for this market. Growth in commercial shipping across the globe and the increasing demand for agricultural tractors are expected to have a positive influence on the market during the forecast period. In 2015, the global oil filter market was dominated by APAC, accounting for over 36% of the overall market share. Steady growth of the market is expected in this region during the forecast period due to increased industrialization and the rise in disposable incomes in emerging economies such as India and Indonesia.
The new market research report from Technavio presents a breakdown and analysis of oil filter segments by end-user.
“The latest trend in this market is the rise in demand for oil filters owing to surge in the demand for commercial aircrafts. The aircraft industry is driven by high replacement rates. The increasing demand for replacement due to a relatively short lifespan is expected to boost the aircraft industry, and thereby, accelerating the sales of oil filters,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.
At present, the passenger car segment dominates the global oil filter market, accounting for around 52% of the overall market share. The growth of this segment is stimulated by the increase in demand for passenger cars around the world, especially in the US and several emerging economies in APAC. The upsurge in industrialization is expected to have a positive influence on the demand for passenger cars and therefore, the passenger car oil filter market, by 2020.
The key vendors in the global oil filter market include Ahlstrom, Clarcor, DENSO, MAHLE, and MANN+HUMMEL. This market is highly fragmented with the presence of several global and local players. The key players dominate the market because of factors like their good business relations with OEMs, ability to produce high-quality products, ownership of mass production facilities, and the presence of established distribution networks. Competition in this market is primarily based on quality, availability, customer relationships, pricing, and R&D.
A more detailed analysis is available on the Technavio report, Global Oil Filter Market 2016-2020.
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