Fuel filters are intended to eradicate dust and dirt particles from the fuel. Fuel filters are placed in the internal combustion engines. On the other hand, the oil filter is basically intended to remove contaminants from transmission oil, lubricating oil, engine oil and hydraulic oil. They are used in various types of hydraulic machineries.
The global oil filter and fuel filter market is expected to grow significantly over the forecast period. Oil filter and fuel filters are obligatory parts in a vehicle. These filters have a limited life, which leads to spur the demand for oil and fuel filters in the aftermarket.
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Emerging economies like India, China, Brazil, Mexico, South Korea, Indonesia, and Turkey are attractive markets for manufacturing firms of oil and fuel filter. Owing to the growing demand of passenger cars and commercial vehicles in emerging countries, it is estimated that passenger car segment will be the dominant segment in the global oil and filter market. The growing demand for long drain intervals and electric vehicles are hampering the growth of global oil and filter market.
The future of the oil and fuel filters market will be determined by factors such as energy independence, reduction of carbon footprint, growing interest in diesel powered vehicles, invention of low sulphur diesel, implementation of stringent environmental norms and better engine design. These parameters will significantly influence how business is going to be conducted in oil and fuel filtration segment.
Global Oil and Fuel Filter Market: Dynamics
Increasing vehicle production, vehicle parc and enhanced average aftermarket spend on vehicle maintenance are the primary factors which are driving the expansion of oil and fuel filter market.
Another key growth driver is expected to be the stringent environmental norms and efficiency regulations prevailing on most of the developed countries.
The most significant restraints associated with oil and fuel filter market is the growing demand of long drain intervals, which may hamper the growth of global oil and fuel filter market. In addition to this, the growing demand for electric vehicles act as a restraint for the global oil and fuel filter market.
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Global Oil and Fuel Filter Market: Segmentation
Global oil and fuel filter market is segmented on the basis of vehicle type as follows:
- Passenger Car
- LCV (Light Commercial Vehicle)
- HCV (Heavy Commercial Vehicle)
Global oil and fuel filter market is segmented on the basis of sales channel as follows:
- OEM (Original Equipment Manufacturer)
Global oil and fuel filter market is segmented on the basis of filter type as follows:
- Oil filter
- Fuel filter
Global oil and fuel filter market is also segmented on the basis filter media as follows:
- Pure Glass
Global Oil and Fuel Filter Market: Regional Outlook
On the basis of region, Asia Pacific is expected to be the growth engine for oil and fuel filter market. The key countries in the Asia-Pacific region are China, Japan, India, and South Korea, as an outcome of growth in the vehicle production which in turn is resulting in increase in demand for oil and fuel filter market in these countries. Japan, Latin America and Middle East and Africa are expected to grow at a steady rate over the forecast period. The North America and Europe are the dominant markets over the forecast period.
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Global Oil and Fuel Filter: Market Players
Examples of some of the market participants in the global oil and fuel filter market identified are:
- The Mann+Hummel Group
- Ahlstrom Corporation
- Rank Group Limited (UCI-FRAM)
- Cummins Inc.
- Sogefi SpA
- Donaldson Company, Inc.
- MAHLE GmbH
- Clarcor Inc.
- Denso Corporation
- Hengst Se & Co. Kg