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Market research analysts at Technavio predict that the global fuel filter market will grow steadily during the next four years and in terms of units, will post a CAGR of over 4% by 2021. This market research analysis identifies the increasing demand for logistics by roadways as one of the major factors that will have a positive impact on the growth of the market in the next few years. Due to the limited availability of rail freight services, the developing economies such as China highly prefer road transportation for transporting goods. Similarly factors such as the high cost of rail freight and poor last-mile connectivity are also inducing companies in India to choose road transportation for container transport. Furthermore, it has also been observed that road transportation accounted for about three-quarters of the total freight transportation in Europe during 2015, where about 90% of the total freight transport in countries such as Greece, Spain, and Ireland were through road. This growing demand for freight transportation by road will consequently increase the demand for heavy, medium, and light-duty vehicles, which will in turn, propel the growth of the fuel filter market.
One of the latest trends that will gain traction in the fuel filter market in the coming years is the increase in variety of fuel filters to suit different applications. Due to the need to improve the efficiency of the engines as well as to limit carbon emissions, there has been a growing need for clean fuel supply in internal combustion engines which contain minimum impurities. OEMs are developing fuel filters that can remove unwanted particles from the fuel. Unwanted particles like pollen, dust, liquid droplets, and rust can clog the critical components of the engine such as the carburetor, injector, and the fuel pump which may result in severe damage to the engine and increase fuel consumption. One of the major fuel filter manufacturers ALCO, already offers a number of fuel filters such as cartridge filters, spin-on filters, inline filters, and metal-free filters for various vehicle segments.
Due to the presence of a limited number of well-established vendors, this market appears to be moderately competitive. Key vendors in this market are currently focusing on growing their customer base and are increasing their investments in R&D. Additionally, the competitive environment in the market is also expected to intensify with advances in technology and government regulations.
The leading vendors in the market are -
The other prominent vendors in the market include Ahlstrom, MAHLE, and SOGEFI Group.
During 2016, the passenger cars segment accounted for the major shares and dominated this market. Fuel economy is a key factor affecting the buying decision of consumers. The increasing demand for passenger cars especially in APAC due to their features such as the compact size and less carbon emissions, will be the major factor augmenting the growth of this market segment during the next four years.
This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market throughout the revenue period. The increase in disposable income and the launch of new car models by OEMs boost the growth of the automotive industry in this region. This increase in number of automobiles will result in a rise in the rate of traffic congestion and in the levels of vehicular pollution. As a result, governments in this region will start implementing stringent regulations on the sales of passenger cars and vehicular emissions, which will consequently propel the growth of the fuel filter market.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by vehicle type
PART 07: Geographical segmentation
PART 08: Key leading countries
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
Tags: automotive industry, automotive manufacturers, car manufacturers, auto components, vehicle parts,
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