According to the latest report by IMARC Group, titled “Oil Filter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How Big is the Oil Filter Market?
The global oil filter market size reached US$ 3.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.6% during 2024-2032.
What is Oil Filter?
An oil filter is designed to remove impurities and foreign particles that may build up over time in the car engine. It includes a tapping plate, filter medium, center steel tube, relief valve, pleats, and end disc. These components enable the circulation of fresh oil into the engine, remove sludge and dirt, and help keep the oil safe and unadulterated. Additionally, it prevents the engine from early wear and tear and reduces emissions and fuel consumption, due to which it is witnessing significant growth in demand across the automotive sector. Full flow, cartridge, spin-on, spinner, and magnetic oil filter are some of the commonly available product variants.
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One of the primary factors propelling the oil filter market is the stringent emission regulations and standards imposed by governments of various nations. This is further supported by the rising demand for automobiles and the increasing need for vehicle safety. Moreover, the burgeoning consumer per capita income has surged the adoption of premium oil filters for seamless engine maintenance, which is creating a positive outlook for the market.
Furthermore, key market manufacturers are investing heavily in advanced technologies to introduce clean fuel levels in oil filters to increase the productivity and longevity of vehicles, which is positively contributing to the market growth. Apart from this, the escalating environmental awareness and rising emissions of greenhouse gases (GHGs) have surged the demand for effective oil filters, which, in turn, is accelerating the market growth.
Oil Filter Market 2024-2032 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the Oil filter market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these Key Players Include:
- Ahlstrom-Munksjö Oyj
- CLARCOR Inc.
- DENSO Corporation
- MAHLE GmbH
- MANN+HUMMEL International GmbH & Co. KG.
Key Market Segmentation:
The report has segmented the Oil filter market on the basis of end-use and fuel type.
Breakup by End-Use:
- Passenger Cars
- Commercial Vehicles
- Two-Wheelers
- Others
Breakup by Fuel Type:
- Gasoline
- Diesel
Breakup by Region:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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