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Oil Filter Market Is Expected to Reach $336.78 Million by 2018
Browse through the market data tables, figures and detailed of the regions – Asia-Pacific, Europe, North America and is further segmented based on vehicle type (Passenger cars, LCVs & HCVs) and fuel type (Gasoline & Diesel). ToC on the “Oil Filter Market”.
Related Reports: of the regions – Asia-Pacific, Europe, North America and is further segmented based on vehicle type (Passenger cars, LCVs & HCVs) and fuel type (Gasoline & Diesel).
North America Oil Filter Market
The vehicle production growth in North America is showing a positive rate. The increasing awareness about the environment, and the government support promoting emission regulation, has increased the market span of oil filters in the region. With countries like Mexico and the U.S. becoming the hub of the automotive industry, the automobile demand in the region is increasing at a fast rate. The North American automotive oil filter market is estimated to grow at a CAGR of 11.1% during 2013 to 2018.
Asia-Pacific houses countries with the highest vehicle production, and the oil filter market can be linked directly with vehicle production. The increasing demand of automobiles in the region has made it a potential market for various companies to invest in and build their business. The increasing environmental consciousness in the region has compelled governments to introduce strict emission norms, enabling the oil filter market to grow at faster rate. Aftermarket fittings play a huge role in the segment as the replacement of the filters at regular time intervals is very important. The Asia-Pacific automotive oil filter market is estimated to grow at a CAGR of 12.7% during 2013 to 2018.
Europe is known for its well-developed automotive industry, which contributes a significant share to the global automotive industry. The government has imposed stringent emission norms and environmental regulations in the region. With the increasing CO2 emission in the environment by automobiles, the regulated use of oil filters and replacement of it at regular intervals has increased the market for oil filters in the region. Consumers are also inclined to environmental friendly means of transport, thus replacement of oil filters is common at regular intervals giving aftermarket suppliers a great opportunity to grow. The European automotive oil filter market is estimated to grow at a CAGR of 8.3% during 2013 to 2018.
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