Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Motorcycle Filters Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)" report has been added to ResearchAndMarkets.com's offering.
The global motorcycle filter market is gearing up for a remarkable growth trajectory, driven by factors such as increased motorcycle demand in developing nations, rising urbanization, and a burgeoning middle-class population. According to market projections, the motorcycle filter market is expected to reach a sales value of US$ 3.92 billion in 2024 and is poised to reach a market valuation of nearly US$ 5.8 billion by the end of 2031.
Key to this growth is the strong demand for motorcycles, particularly among the middle-class population in regions like India, China, and ASEAN countries. The affordability of motorcycles, lower environmental impact, and ease of parking due to their compact size are among the key factors driving this surge in demand. In many South East Asian countries, it's a common trend for households to own more than one motorcycle or scooter, as reported by the Federation of Asian Motorcycle (FAMI).
Additionally, extended commute times in countries like Brazil and Argentina have further propelled the adoption of motorcycles, contributing significantly to the increasing demand for motorcycle filters. The substantial production volume in India and China, coupled with domestic demand, is also fueling the market's growth.
However, the motorcycle filter market faces challenges in developed regions, such as North America and Europe, where a substantial portion of the working population prefers four-wheelers over two-wheelers. Recent trade agreements, like the North America Free Trade Agreement (NAFTA), have made four-wheelers more attractive due to cost reductions in imported vehicles. Moreover, there is a lingering negative perception or stigma surrounding motorcycles as a mode of transportation for the less affluent, which impacts their popularity in these regions, ultimately affecting motorcycle filter demand.
The emergence of electric vehicles (EVs) is another crucial factor impacting the motorcycle filter market. As global concerns over air pollution grow, a shift towards EVs over conventional fuel-based vehicles has become evident. Many governments around the world are incentivizing the use of electric motorcycles by offering subsidies and incentives. Unlike traditional motorcycles, electric motorcycles typically do not require filters, which could hamper the growth of the motorcycle filter market in the coming years.
Competitive Analysis:
The motorcycle filter market is characterized as oligopolistic, with key players holding a significant market share. These major players are focusing on forward integration and increasing production capacity to meet the rising demand. They are also actively seeking organic growth opportunities, particularly in the Asia Pacific region, through the acquisition of manufacturers in related industries. Innovation in air filter technology is another avenue being explored by key players to gain momentum in the global market.
Key Companies Profiled:
- MAHLE GmbH
- K & N Engineering, Inc.
- Mann+Hummel GmbH
- Pipercross Performance Filters
- BMC Srl
- DNA Filters
- Uni Filter Inc.
- NAPA Filters
- Roki Co. Ltd.
- Ryco Filters
- Filtrak Brandt GmbH
- Solat International Trading Co., Ltd.
- Guangzhou Jiade Special Foam
- Sunpro
Global Motorcycle Filter Market by Category
By Filter Type, the market is segmented as:
- Fuel Filters
- Oil Filters
- Air Intake Filters
By Filter Media, the market is segmented as:
- Cellulose
- Synthetic
- Others
By Sales Channel, the market is segmented as:
- OEMs
- OESs
- IAMs
By Region, the market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/b4kfqs
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