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Europe Automotive Filters Market Share to Surge at $5 Bn by 2026
Published Date: 2020-02-25
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According to the Graphical Research new growth forecast report titled “Europe Automotive Filters Market Size By Product, Application, End Use, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020–2026”, Estimated to Exceed USD 5 Billion by 2026. Europe is one of the key automobile producers globally, which offers lucrative growth opportunities or automotive filters market. Strong automobile sector has led to upsurge in automotive aftermarket and OEM, which will further stimulate demand for automotive filters. Stringent government initiatives implemented including Commission Regulation (EU) 2019/318 and 2017/1151 in order to decrease air pollution from automobiles has compelled manufacturers to upgrade their products to sustainable filters, which will further propel product demand in forecast timeframe.
Increasing number of vehicles in the region has resulted in customer, changing filter periodically in order to maintain smooth performance of the vehicle’s engine. Growing commercial vehicle has resulted in higher frequency of changing filters owing to longer distance travelling as compared to other vehicles. These factors will boost the Europe automotive filters market size by 2026.
Rising product utilization for protection and controlling of dust particles entering from burning engines may harm cylinders and piston ring which will deteriorate vehicle performance, thus driving industry growth. These products enable cold air intake in engine which results in enhancing horsepower and reduction in fuel consumption of vehicle, thus further propelling product demand. Growing awareness regarding toxic air emission from engine which can cause negative health affects is anticipated to stimulate Europe automotive filters market size in forecast timeframe.
Fuel segment will witness a growth of 5.8% over the forecast period, in terms of revenue. This product is majorly utilized in internal combustion engines. Rising product utilization in diesel engines in order to eradicate water content and dust from fuel which affects internal combustion should boost industry growth. Shifting consumer preferences towards high performance, lower emissions & mileage owing to rising oil prices coupled with stringent governmental emission such as the Euro stage by EU should foster industry growth.
Rising OEM globally owing to increasing automotive manufacturers looking to optimize manufacturing processing, faster production and lower production cost which should promote automotive filtration industry. The OEM segment occupied a market share of around 30% in the market. Growing light weight vehicles demand owing to low fuel consumption, reduced emissions and affordability has led OEM manufacturers to increase production, thus propelling Europe automotive filters market growth.
Key players in the Europe automotive filters market are Freudenberg Filtration Technologies, Hengst SE, Hollingsworth and Vose Inc., Mahale GmbH, and Mann+Hummel.
Europe Automotive Filters Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2020 to 2026, for the following segments:
Europe Automotive Filters Market Share, By Application
- Passenger Cars
- Light & Heavy Commercial Vehicles
- Two Wheelers
Europe Automotive Filters Market Size, By Product
- Air Filter
- Intake Filters
- Cabin Filters
- Fuel Filters
- Oil Filters
Europe Automotive Filters Market Value, By End-Use