Furthermore, the role of Industry 4.0 during the crisis has led stakeholders in the automotive oil & air filters market to tap into technologies to pave the way for futuristic automotive oil & air filters. Such pursuits favour the growth of the automotive oil & air filters market.
Thus, these factors are anticipated to drive the automotive oil & air filters market at a CAGR of 3.9% during the forecast period, 2021- 2031, Transparency Market Research said.
The growing use of technology supported by IoT devices redefines automobile filtration processes, leading to the emergence of next-gen automotive oil & air filters. In addition, the exponential increase in the number of commercial and passenger vehicles is creating the demand for automotive components, which include automotive oil & air filters.
Some of the key players operating in the automotive oil & air filters market include Champion Laboratories, Mamm+Hummel, Donaldson Company, Robert Bosch, Cummins, Ahlstrom-Munksjo, Hengst SE, First Brands Group, ExxonMobil Corporation, and Denso.
According to the global market intelligence company, the growth of eCommerce that has led to high volume demand for commercial vehicles for shipping of goods is benefitting the entire automotive industry, including the automotive oil & air filters market. The large miles covered by vehicles for the delivery of goods increase the need to replace oil and air filters frequently. This creates demand in the automotive oil & air filters market.
The outbreak of the COVID-19 pandemic and its continued impact have compelled stakeholders in the automotive sector to prepare for economic uncertainties in the future. Furthermore, the massive losses incurred across the automotive sector during the pandemic has paced the momentum for electric vehicles and autonomous vehicles.
Novel Filters
Transparency Market Research stated that design improvements to enable the use of full engine power creates growth opportunities.
Elaborating on the findings, the global market intelligence company said that automobile engines and their components had evolved considerably for the changing external environment over the past decade. This involves new models of vehicles to be fitted with oil filters that deliver extended durability and temperature protection than predecessor vehicles. To serve this, manufacturers use novel materials to develop next-gen automotive oil & air filters that can filter destructive contaminants that attack vehicles from inside.
Novel filter materials based on synthetic or cellulose fibres are increasingly used for automotive air filters. The design and functionality of these air filters are attractive to filter particles a few microns in size, and their special ribbing helps stabilize air filter pleats and prevent the adherence of adjacent pleats.
The initiative undertaken by manufacturers of automotive oil and air filters to improve their design for better performance is stimulating the automotive oil & air filters market. This includes deploying uniform distribution of pleats in air filters to facilitate the filtration process to take charge of the entire filtration medium. Thus, it helps in the complete utilization of the automobile engine power and keeping it clean.
Superior Products Gathers Steam
The rise in concerns due to harmful vehicular emissions such as CO2 has led to stringent regulations in several parts of the world to control air emissions. As a result, automobile manufacturers need to mandatorily adhere to air emissions regulations to use components. This is leading manufacturers of automotive oil and air filters to invest in R&D for superior products.
The key growth drivers for the automotive oil & air filters market include the longer run time of commercial vehicles to serve burgeoning eCommerce leading to frequent replacement of automotive components fuels automotive oil & air filters market.
R&D for next-gen products to reduce vehicular emissions and enable full utilization of engine power to stimulate growth, global market intelligence company, said.
Courtesy: Transparency Market Research. NB: Photo is representational; courtesy: Denso.