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Oil Filter & Fuel Filter Market - New Revenue Pockets
Asia-Pacific: Production PowerhouseThe Asia-Pacific region has been the leading automotive producer for the last few years and has also witnessed strong growth in its motor vehicle population. This has formed the base for it to over throw Europe off its top spot in the automotive oil and fuel filters market and gain the top spot over the next five years. The Asia-Pacific region’s growth is highly associated with China and India, which are gaining pace year-on-year and are providing ample opportunities to the global automotive industry giants for setting up successful ventures in these markets. Improved standard of living, disposable income and other economic factors have provided the extra boost that the automotive industry in this region required.
Long Lasting High Performance Synthetic Media Filters
Filtration media has been the most highly evolving part of automotive oil and fuel filters. The basic design of these components has pretty much remained the same over the past few decades with the only major advancements happening in the filter media employed in these filters. Majority of modern day fuel filters employ pleated paper as the media, but synthetic filter media is gaining momentum at a faster pace and is expected to acquire widespread acceptance over the next few years. The major advantages that these media hold over conventional paper are—ability to withhold smaller particles, while not posing hindrance in the flow of oil through them, longer life, and low degradation when in use. These advantages have helped synthetic media gain market share over the last few years and most modern day race cars and high-end vehicles employ oil and fuel filters fitted with these synthetic filter media. As technology progresses, new affordable versions of these media are expected to appear in the market, which can leave a major dent in conventional filter media’s market share. The automotive oil and fuel manufacturers in order to sustain and preserve their market shares would have to concentrate more on the development of filters fitted with synthetic filter media along with more R&D efforts in order to develop filtration technologies, which can help meet the narrow emission standards of the future.
Diesel Replacing Gasoline
Diesel was once considered unfit for vehicular applications due to the complexity of diesel engine designs and low power output. The inception of fuel injection technology; though, ushered a new era in automotive industry, diesel engines gained market popularity owing to the better fuel economy and performance that were more than that of a gasoline engine. Further, turbochargers helped automotive OEMs to revolutionize diesel engines by increasing performance and fuel economy and at the same time reduction in vehicle emissions. The diesel engines are continuously increasing their share against gasoline and in current scenario, diesel oil and fuel filters market provides high revenue generating avenues for market players. Diesel filter characteristically has a complex built with a higher price tag, which will further help it generate larger revenue when compared to gasoline oil and fuel filters. In 2013, the diesel oil and fuel filters are expected to have the largest revenue share of about 65% with rest occupied by its gasoline counterpart and is expected to grow at a CAGR of 11.26% from 2013 to 2018.
Oil Filter & Fuel Filter Market by Vehicle Type (Passenger Cars, LCVs & HCVs), Market Type (OE & Aftermarket), Filter Type (Oil & Fuel), Fuel Type (Gasoline & Diesel) & Geography - Industry Trends & Forecast to 2018
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