Automotive Fuel Filter Industry News
Denso
Corporation, Parker Hannifin Corporation, Mahle GmbH, Mann+Hummel, Hengst SE,
Cummins Ltd, and others are among the leading competitors in the worldwide
automotive fuel filter market. The main corporations are expanding their
operations by establishing new manufacturing facilities. The introduction of
UFI filters is expected to generate around 15% of the company's annual revenue.
Automotive Fuel Filter Market
Overview
The
Automotive
Fuel Filter Market is expected to generate revenue of USD 1.7 billion in 2023 to USD 2.4 billion by 2032, at a CAGR rate of over 4.06%.
Automobile
engines have advanced and gotten more sophisticated around the world in recent
years. Because the majority of vehicle engines have a limited tolerance level
for poor fuel quality, the demand for high-quality oil fuel filers to ensure
smooth engine operation is growing. These filters are also critical in reducing
carbon emissions, and government activities throughout the world to ensure
compliance with pollution standards have aided the worldwide vehicle gasoline
filter market's growth.
The
automotive fuel filter reduces air pollution from vehicles by preventing the
entry of exhaust fumes, bacteria, pollens, and other contaminants into the
engines and carburetor; it lowers maintenance costs and extends the vehicle's
lifecycle, making it a major driving factor for the global automotive fuel
filter market growth. Another key driver that is expected to propel the growth
of the worldwide automotive fuel filter market is the ban of diesel vehicles in
German cities, which is based on European Union legislation to minimize air
pollution.
By
the end of the analysis period, the gasoline segment is expected to increase
the most reaching USD 861.8 million. The diesel market is expected to grow at a
4.4% CAGR over the next seven years, according to an examination of the
business implications of worldwide pandemics and economic crises. The present
segments account for 59.9% of the global market for automobile fuel filters.
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Report of Automotive Fuel Filter Market
Market Segmentation
Filter
type, application, distribution channel, and region are the segments in which
the automotive fuel filter market is classified. During the forecast period,
the global automotive fuel filter market is expected to rise at a healthy rate.
By
Type
● Engine Oil Filter
● Engine Air Filter
● Cabin Air Filter
● Diesel Filter
● Fuel Filter
By
Application
● Commercial Vehicles
● Passenger Vehicles
By
Distribution Channel
● OEM
● Aftermarket
By
Region
● North America
● Europe
● Asia-Pacific
● Rest of the world
Regional Classification
Due
to increased automobile demand and individual disposable income, the Asia
Pacific region is expected to have the largest share of the worldwide
automotive fuel filter market revenue during the forecast period. During the
forecast period, North America is expected to have the second-largest
automobile fuel filter market share, with a promising CAGR. Due to the growth
of more manufacturing units in these regions, the United States is the dominant
country-specific market. The automobile gasoline filter cleans dirt and rust
particles out of the fuel, preventing them from entering the vehicles' engines
and keeping them clean and free of damage. The rise in worries about carbon
emissions, as well as the development of new fuel types, are driving the
worldwide vehicle fuel filter market forward.
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