The oil filter global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Oil Filter Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The oil filter market size has grown strongly in recent years. It will grow from $3.94 billion in 2023 to $4.21 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to growing environmental concerns, increasing production of commercial vehicles, a growing average age of vehicles in operation, enhancing the overall performance of the engine, and the rising popularity of electric vehicles.
The oil filter market size is expected to see strong growth in the next few years. It will grow to $5.57 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to the rising need for vehicle safety, rising vehicle manufacturing, demand for high-quality hydraulic filters, increasing adoption of electric vehicles, and the rise in demand for diesel fuel oil filters for cars. Major trends in the forecast period include the continuous evolution of filtration technologies, technological advancements, partnerships and strategic mergers, acquisitions, and new product innovations.
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Scope Of Oil Filter Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Oil Filter Market Overview
Market Drivers –
The rising demand for commercial vehicles is expected to propel the growth of oil filter markets going forward. Commercial vehicles refer to motor vehicles designed for transporting goods or passengers for business purposes, including trucks, buses, and vans. The demand for commercial vehicles is in-light with increased e-commerce activities, urbanization, and infrastructure development, which drive the need for efficient transportation and logistics solutions. Oil filters protect commercial vehicle engines by removing contaminants from the oil, ensuring reliable performance, reduced maintenance costs, and improved fuel efficiency. For instance, in January 2024, according to the Society of Motor Manufacturers and Traders, a UK-based trade association, demand for new light commercial vehicles (LCVs) in the UK increased by 21.0% in 2023, reaching a total of 341,455 units. Therefore, the rising demand for commercial vehicles is driving the growth of the oil filter market.
Market Trends –
Major companies operating in the oil filter market are focusing on developing technologically advanced filtration solutions, such as synthetic endurance oil filters, to enhance durability and improve engine performance. A synthetic endurance oil filter refers to a type of oil filter designed with advanced synthetic materials and technology to provide superior filtration performance, extended service life, and enhanced engine protection under demanding conditions. For instance, in April 2023, Fram Group Operations LLC, a US-based operator of a car repair and replacement parts business, launched the FRAM Synthetic Endurance oil filter, a premium product designed for high performance and durability. This oil filter protects up to 25,000 miles when used with appropriate synthetic motor oil. It features high-flow synthetic media offering 99% filtration efficiency, heavy-duty steel construction for durability under high pressure, a 360° textured grip for easy installation and removal, a Perfect Seal No-Stick Gasket for extended oil change intervals, and a robust base plate. This product is designed to meet the needs of newer and late-model vehicles, reflecting FRAM’s dedication to quality and performance in engine oil filtration.
The oil filter market covered in this report is segmented –
1) By Type: Fuel Filter, Engine Oil Filter, Hydraulic Filter, Other Types
2) By Media: Cellulose, Synthetic
3) By End-Use: Passenger Cars, Commercial Vehicles, Two-Wheelers, Other End-Users
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Regional Insights –
Asia-Pacific is the largest region and fastest-growing region in the oil filter market in 2023. The regions covered in the oil filter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the oil filter market are Exxon Mobil Corporation, Robert Bosch GmbH, Caterpillar Inc., Denso Corporation, Cummins Inc., DAIKIN INDUSTRIES Ltd, Eaton Corporation plc, Tenneco Inc., Parker Hannifin Corporation, Mahle GmbH, Mann+Hummel GmbH, Donaldson Company Inc., Purolator Inc., Sogefi Group, Hengst SE & Co. KG, Evotek, Hollingsworth & Vose Company, FRAM Group IP LLC, GUD Holdings Limited, Champion Laboratories Inc., K&N Engineering Inc., Bry-Air Inc., ACDelco
Table of Contents
1. Executive Summary
2. Oil Filter Market Report Structure
3. Oil Filter Market Trends And Strategies
4. Oil Filter Market – Macro Economic Scenario
5. Global Oil Filter Market Size and Growth
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32. Global Oil Filter Market Competitive Benchmarking
33. Global Oil Filter Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Oil Filter Market
35. Oil Filter Market Future Outlook and Potential Analysis
36. Appendix
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