The oil filter elements market is estimated to be valued at US$ 3.59 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Oil filter elements are used to remove contaminants from engine oil in vehicles. They are made up of materials like pleated paper, plastic, and foam. These elements trap particles like dirt, carbon, sludge and metals from the oil. This keeps the engine running smoothly and prevents excessive wear and tear. The automotive industry is a major end user of oil filter elements as they are used in all types of vehicles including passenger cars, commercial vehicles, motorsport vehicles, and heavy equipment. Market Dynamics: The growth of the oil filter elements market is majorly driven by increasing vehicle production globally. According to OICA (International Organization of Motor Vehicle Manufacturers), around 90 million vehicles were produced worldwide in 2021 indicating a rise of 4% from 2020 production figures. Increasing demand for newer vehicles especially in emerging economies of Asia Pacific and Latin America is boosting the aftermarket for replacement of filters. Furthermore, stricter emission norms requiring quality filters are supporting the adoption of oil filter elements in vehicles. However, increasing preference of extended oil change intervals may hamper the market growth during the forecast period. SWOT Analysis Strength: The oil filter elements market enjoys few inherent strengths. Oil filter elements effectively remove harmful contaminants from engine oil, helping extend engine life. Leading players offer premium quality oil filter elements that provide superior filtration. Furthermore, the aftermarket for replacement filters is large given most vehicles require filter changes every 5,000-10,000 miles. Weakness: Oil filter elements have very low profit margins for manufacturers. Raw material costs, mainly of steel, constitute a major portion of the production costs. Also, the market is highly competitive with presence of numerous global and regional players. Opportunity: Growing automotive production and vehicle parc globally presents an opportunity for higher demand. Stricter emission norms necessitating improved engine performance aids filter element sales. Online and multi-brand auto parts retailers expanding reach and driving replacement filter sales. Threats: Volatility in raw material prices poses risks. Technological advances may lead to alternative filtration solutions lowering need for frequent filter replacements lowering demand. Rising environmental concerns and push for electrification can dent long-term growth in internal combustion engines. Key Takeaways The global Oil Filter Elements Market Share is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing vehicle parc across emerging economies of Asia Pacific and Latin America along with more stringent emission norms necessitating improved engine filtering. Regional analysis: Asia Pacific dominates the global oil filter elements market, both in terms of production and consumption. Countries such as China, India, and Japan contribute significantly to the regional market growth. This can be attributed to rising vehicle production and large pre-existing vehicle population. Furthermore, presence of key global manufacturers aids regional market. North America and Europe are other major markets, though growth is projected to be relatively slow owing to maturity. Key players related content: Key players operating in the oil filter elements market are MANN+HUMMEL, Mahle GmbH, Denso Corporation, Robert Bosch GmbH, Donaldson Company, Inc., Clarcor Inc. (Acquired by Parker Hannifin Corp), Sogefi SpA, Hengst SE, ACDelco (Subsidiary of General Motors), Cummins Inc., Fram Group, K&N Engineering, Inc., Freudenberg Group, WIX Filters (MANN+HUMMEL), UFI Filters. The market remains fragmented with these players accounting for majority share. Companies compete on quality, product range, and distribution network.
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This report presents the worldwide Natural Gas Filter Element market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application.This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
Download Free Sample Report @ https://www.radiantinsights.com/research/global-natural-gas-filter-element-market-insights-forecast-to-2025/request-sample The Natural Gas Filter Element market was valued at Million US$ in 2017 and is projected to reach Million US$ by 2025, at a CAGR of during the forecast period.
In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Natural Gas Filter Element.The following manufacturers are covered in this report:• Bioconservacion• Midwesco Filter Resources• MANN+HUMMEL• Headline Filters• AAF International• Airguard• MAHLE Industry• Parker Natural Gas Filter Element Breakdown Data by Type• Large-sized• Medium-sized• Small-sizedNatural Gas Filter Element Breakdown Data by Application• Petroleum Industry• Chemical Industry• Metallurgy Industry• Other Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/global-natural-gas-filter-element-market-insights-forecast-to-2025 Natural Gas Filter Element Production by Region• United States• Europe• China• Japan• Other Regions Natural Gas Filter Element Consumption by Region• North America• United States• Canada• Mexico• Asia-Pacific• China• India• Japan• South Korea• Australia• Indonesia• Malaysia• Philippines• Thailand• Vietnam• Europe• Germany• France• UK• Italy• Russia• Rest of Europe• Central & South America• Brazil• Rest of South America• Middle East & Africa• GCC Countries• Turkey• Egypt• South Africa• Rest of Middle East & Africa The study objectives are:• To analyze and research the global Natural Gas Filter Element status and future forecast?involving, production, revenue, consumption, historical and forecast.• To present the key Natural Gas Filter Element manufacturers, production, revenue, market share, and recent development.• To split the breakdown data by regions, type, manufacturers and applications.• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.• To identify significant trends, drivers, influence factors in global and regions.• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
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