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Technavio’s market research analyst predicts the global oil filter market to grow at a CAGR of more than 4% by 2020. Oil filters remove impurities and other waste components from circulating and transmission oil, lubricating oil, engine oil, and hydraulic oil in automobiles. Due to the introduction of stringent government regulations and the implementation of new initiatives for emission reduction, several manufacturers have been compelled to develop sophisticated engine designs and clean fuel levels in oil filters. Since the growth prospects for this market are heavily dependent on the sales of commercial and passenger vehicles, the rapid growth of the commercial and passenger vehicle industries will augment the need for oil filters over the next four years.
Another factor impelling the prospects for growth in this market is the recent rise in demand for agricultural tractors. Agricultural tractors have a lifespan of 10-15 years. As a result, the timely replacement of these tractors will become necessary for their smooth operation. Proper maintenance of such equipment will also help to bring about cost reduction, improvement in productivity, and boost revenue generation. This will fuel the demand for replacement in regions like North America and Western Europe, where farmers seek to increase efficiency by replacing older machinery with technologically sophisticated equipment. This preference for equipment replacement will, in turn, bolster the demand for oil filter during the next four years.
The passenger cars segment will be the largest end user in the global oil filter market and is expected to occupy around 53% of the total market share by 2020. The demand for passenger cars will increase due to factors like improving economic situation, evolving lifestyle, rising income levels, and high consumer confidence.
APAC is the fastest-growing region in the oil filter market and will grow at a CAGR of more than 5% during the forecast period. Much of this region’s growth can be attributed to the increased demand for passenger cars and commercial vehicles. Factors such as growing investments in agricultural equipment also will fuel the demand for oil filters in the region during the predicted period.
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.
Key vendors in the market are -
Other prominent vendors in the oil filter market include Cummins Filtration, Donaldson Engine - Products Segment, GUD Holdings - Automotive Products, Hengst Automotive, K&N Engineering, Neenah Technical Products, Parker-Hanninfin Industrial, Roki, ITW Automotive OEM, Robert Bosch, Lydall Industrial Filtration, Tokyo Roki, and Toyota Boshoku Filtration & Powertrain Components.
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An oil filter is used to remove impurities from engine oil, transmission oil, lubricating oil, or hydraulic oil. A primary use of the oil filter is in internal-combustion engines in motor vehicles, light aircraft, and naval vessels. Moreover, industries such as oil production, transport, and recycling facilities also employ these filters in their manufacturing process.
The report, global oil filter market, is part of Technavio’s heavy industry research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as construction, engineering tools, test and measurement, tools and components, and unit operations. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.
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 end-user
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Key leading countries
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
PART 17: Explore Technavio
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