Global Oil Filter Market Size To Reach USD 4.9 Bn By 2030 | CAGR 5.6%.

Category: Automotive & Transportation

RELEASE DATE Sep 2022
REPORT ID SI1049

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The Global Oil Filter Market Size was USD 3.2 Billion in 2020 and is projected to reach USD 4.9 Billion by 2028, exhibiting a CAGR of 5.6%. as per the latest research report by Spherical Insights & Consulting.

 

An oil filter is a device that removes contaminants and unwanted material from vehicle lubricants. It eliminates dirt and sludge, which helps maintain the oil safe and pure, preventing the engine from early wear, allowing it to run efficiently, lowering pollutants, and lowering total fuel consumption. Its use helps to prevent pollutants from causing damage to the engine, as unfiltered oil can get saturated. It is also simple to replace, leaving little trace, and aids in cooling the oil and pressure monitoring. One of the key reasons enabling the expansion of the worldwide oil filter market is the booming vehicle and automotive sectors. In recent years, population growth has resulted in an increase in car fleets and commuting utilisation, particularly in emerging nations. As a result, the need for oil filters has increased. Apart from that, strict government restrictions and different initiatives aimed at lowering carbon emissions in various countries have fueled demand for oil filters.

Oil Filter Market

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 Browse key industry insights spread across 220 pages with 122 market data tables and figures & charts from the report “Global Oil Filter Market Size, Share And Global Trend By Fuel Type (Gasoline & Diesel), By Filter Type (Fuel Filter, Engine Oil Filter, Hydraulic Filter & Others), By End Use (Oems & Aftermarket); By Region (U.S., Canada, Mexico, Rest Of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest Of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest Of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest Of Middle East & Africa, Brazil, Argentina, Rest Of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends And Forecast, 2021-2030” in detail along with the table of contents https://www.sphericalinsights.com/reports/oil-filter-market

 

Some of the leading players in the global oil filter market including MAHLE Aftermarket GmbH, Robert Bosch GmbH, MANN+HUMMEL, K&N Engineering Inc., ALCO Filters Ltd., Cummins, Freudenberg Filtration Technologies GmbH & Co. KG amongst others.

 

Oil Filter Market

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The increase in vehicle distance driven in various locations has an impact on the automotive oil filter market's sales channel. Oil filter replacement and longevity are directly related to vehicle miles travelled. Oil filter replacement is becoming more common as vehicle miles driven across the world increase. This is one of the main reasons for the aftermarket segment's significant market share. The substantial market share represented by the passenger vehicle segment of the automotive oil filter market is due to a decline in car loan interest rates, the availability of customized finance schemes, and an increase in consumer per capita income. During the projected period, rising pollution levels and the need for high-efficiency vehicles are expected to raise demand for these filters. Moreover, vehicle owner all around the world are focused on preventive maintenance to improve vehicle productivity and longevity. This, in turn, is propelling the market forward. Furthermore, market players are expected to benefit from the increasing average age of vehicles in operation as a result of continuous improvements in vehicle quality and associated functionality.

 

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