Rockville, MD., July 22, 2024 (GLOBE NEWSWIRE) -- A latest updated study by Fact.MR reveals that the global Automotive Fuel Filter Market is projected to increase from a value of US$ 2.77 billion in 2024 to US$ 5.09 billion by 2034. Worldwide demand for automotive fuel filters is evaluated to rise at a 6.3% CAGR from 2024 to 2034.
Market participants are releasing longer-lasting and more efficient automotive fuel filters to increase their profit margins. Improvements in material and filtering medium are boosting the gasoline filters’ lifetime and efficiency. The ability of fuel filters to remove contaminants is being enhanced by two innovations: multi-layer filtering medium and advanced synthetic materials.
The growing number of older cars on the roads and the expanding automotive aftermarket business are driving up the requirement for fuel filters. Customers and service facilities seek out dependable aftermarket parts to maintain vehicle performance. Rising demand for automobiles in the North American region is giving the automobile sector a boost. In North America, there is a growing need for automotive fuel filters due to customer complexity and increasing market competitiveness.
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Key Takeaways from the Automotive Fuel Filter Market Study:
- The North American market is estimated at a value of US$ 510.7 million in 2024.
- East Asia is projected to account for a 23.6% share of the global market by 2034.
- Sales of automotive fuel filters in Japan are projected to reach US$ 310.8 million by 2034.
- The market in the United States is expected to reach US$ 449.4 million in 2024.
- The South Korea market is forecasted to expand at 6.7% CAGR through 2034.
- Based on vehicle type, passenger cars are expected to hold 62.8% market share in 2024.
- Demand for synthetic filters is projected to increase at 10.5% CAGR from 2024 to 2034.
“Stricter rules controlling emissions and production of diesel-powered vehicles are driving up demand for automotive fuel filters globally,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Automotive Fuel Filters Market
Donaldson Company Inc.; Robert Bosch GmbH; Mahle Group; Mann+Hummel Group; Denso Corporation; Sogefi SpA; K&N Engineering; Champion Laboratories Inc.; Cummins Inc.; FRAM Group IP LLC; Freudenberg & Co KG; Hengst SE & Co KG; Mann + Hummel GmbH; UFI Filters Spa; Freudenberg Filtration Technologies.
Growing Demand for Synthetic Fuel Filters
The performance, longevity, and effectiveness of synthetic filters are beating those of traditional filters, which is driving up demand for them. Synthetic filters are improved filtration systems that are more effective at eliminating small particles and contaminants due to their construction from advanced materials. Also, its longer lifespan and reduced repair needs mean less downtime and maintenance expenses.
Synthetic filters are ideal for the latest engines since they can withstand harsh environments and high temperatures, which is why they work under increasingly demanding conditions. Since companies and consumers are placing more value on lower emissions, fuel efficiency, and engine performance, the market for premium synthetic filters is growing quickly.
Automotive Fuel Filters Industry News:
- In December 2023, an innovative line of commercial vehicle filters from Uno Minda was revealed to improve engine longevity and performance. Uno Minda's most recent offering in partnership with Roki offers an excellent range of air, oil, and fuel filters for commercial vehicles in the Indian aftermarket.
- In August 2023, with The Goodyear Tire & Rubber Company as its official licensing partner, Assurance Intl. Limited unveiled a new line of filters and batteries that will be produced, marketed, sourced, and distributed in India as well as in the markets of South and Southeast Asia, Australia, and New Zealand.
- In October 2021, Donaldson Company, Inc. was recognized by Frost & Sullivan with the 2021 North American Customer Value Leadership Award for increasing the life of customers' equipment with its filters.
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Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Filter Type:
- Gasoline
- Diesel
Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Filter Media:
- Cellulose Filters
- Synthetic Filters
Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Vehicle Type:
- Passenger Cars
- Commercial Vehicles
Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Sales Channel:
- OEM
- OES
- IAM
More Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of the automotive fuel filter market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on filter type (gasoline, diesel), filter media (cellulose filters, synthetic filters), vehicle type (passenger cars, commercial vehicles), and sales channel (OEM, OES, IAM), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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