Automotive & Transportation

APAC automotive electronics control unit (ECU) industry to earn a huge revenue over 2016-2023, high demand from safety applications to boost the regional growth

Posted on Updated on

Global Automotive Electronics Control Unit (ECU) Market is likely to chart out a lucrative growth path over the next few years, subject to the highly developing automotive sector. The recent joint venture between BMW AG, Delphi, and Intel that aims to develop a highly automated self-driving platform for BMW, with Delphi handling the spare parts configuration and software connectivity may also give a major boost to automotive ECU market. Of late, the automotive industry has observed a major shift with changing consumer preferences toward purchasing luxury cars, which will generate new avenues for the business.

China Automotive ECU Market size, by application, 2012-2023 (USD Billion)
China Automotive ECU Market size, by application, 2012-2023 (USD Billion)

 

The automotive industry is going to experience a huge growth due to the surging preference for sustainable technologies, electric vehicles, eco-friendly driving systems, and energy-preserving vehicles, which will subsequently boost automotive ECU market. Global Market Insights, Inc., reports that automotive ECU industry size, which was assessed at USD 32 billion in 2015, is slated to surpass USD 50 billion by 2023.

Incorporation of additional innovative features such as connected navigating, infotainment, telematics, advanced control, and communication systems in the vehicles will help in increasing the automobile sales, thereby contributing considerably towards automotive ECU market revenue.  The emerging advanced driver assistance system (ADAS) sector, driven by rising safety concerns, is expected to steer the business growth over the span of few years.

Automotive ECUs find wide application in communication & navigation, electric vehicle powertrain, chassis electronics, entertainment, and safety & security sectors. Automotive electronic control unit (ECU) industry size from safety applications, which was evaluated at USD 9 billion in 2015, is forecast to observe a lucrative expansion over the coming years. Mounting requirement for passenger security along with strict safety guidelines set by law enforcement agencies to ensure safe driving will impel automotive ECU industry growth.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/109

High inclination toward the use of convenience technologies for improving the driving experience is projected to raise automotive electronics control unit (ECU) market size across the communication & navigation sector.

Electric vehicle powertrain applications are expected to contribute substantially towards automotive electronics control unit (ECU) market share in the future, driven by the deployment of electronic control units in electric vehicle powertrains for controlling the operations of electric motors, power electronics systems, and battery.

Considering the regional landscape, Middle East & Africa automotive ECU industry is set to record a CAGR of 4.5% from the period of 2016 to 2023. Escalated vehicle production by various automobile manufacturing firms across the region is expected to augment the revenue. Egypt, Nigeria, Iran, and Algeria are likely to be the key regional share contributors.

Asia Pacific automotive electronics control unit (ECU) market, which contributed to a major share of the overall revenue in 2015, is predicted to grow at an annual rate of 7.2% over the period of 2016-2023. An increase in the automobile sales, escalating vehicle safety standards and low fuel usage are few of the key growth drivers. Japan, China, and India are predicted to boost the regional revenue.

Automotive electronics control unit (ECU) industry size in Mexico, which was estimated at USD 1 billion in 2015, is projected to register significant gains over the coming timeframe. High funding to construct new automobile manufacturing units across the region to fulfill the consumer demand for vehicles is predicted to push the regional revenue.

Europe automotive electronics control unit (ECU) market value, worth USD 8 billion in 2015, is projected to experience a substantial surge over the years to come. Favorable government regulations mandating the deployment of advanced emergency braking systems in vehicles for ensuring the safety of pedestrians, commuters, and drivers will drive the regional demand.

Market players will increase their ROI through mergers & acquisitions, high R&D financing, technological innovations, and product differentiation.  Takata Corporation, Atmel Corporation, Autoliv Incorporation, Robert Bosch GmbH, Faurecia, Calsonic Kansei Corporation, Performance Electronics, Limited,  Broadcom Limited, Johnson Controls, Dow Corning Corporation, Denso Corporation, Infineon Technologies AG, Mitsubishi Electric Corporation, Altera Corporation, TRW Automotive, Continental AG, Delph Automotive PLC, Lear Corporation, Voxx Electronics Corporation, The Hyundai Motor Company, Panasonic Corporation,  Hitachi Automotive Systems Limited, Advics Company Limited, Texas Instruments Incorporation, Aisin Seiki Company Limited are the key participants of automotive electronics control unit (ECU) industry.

Author Name :Dhananjay Punekar

Automotive glass market revenue to nearly double by 2024, high demand for tempered glass products to influence industry growth over 2016-2024

Posted on

Automotive glass market will collect a remarkable revenue over the years ahead, subject to exponential growth of global automotive industry and the deployment of high grade technologies in automobiles to enhance the driving experience. The emergence of innovative technologies such as the smart glass across the automotive sector will favorably impel automotive glass industry. Of late, people have become more aware regarding eco-friendly autoparts production as well as the importance of safety while driving. Many of the firms are replacing metal parts with plastic to minimize the overall weight of the product, which will directly boost the vehicle efficiency. As per the report by Global Market Insights, Inc., “Automotive Glass Market was worth USD 15 billion in 2015 and will record an annual growth rate of more than 7% over the period of 2016 to 2024.”

Europe Automotive Glass Market Size, By Application, (Mn Sq.m), 2015 & 2024
Europe Automotive Glass Market Size, By Application, (Mn Sq.m), 2015 & 2024

Windscreen, backlite, and sidelite are the main application segments of automotive glass market. Windscreen applications will collect significant revenue with an annual growth rate of 6.7% over the period of 2016 to 2024. The enforcement of strict rules by regulatory organizations regarding driving safety will stimulate the product demand significantly.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/1087

Global automotive glass industry share from sidelite applications will grow at a CAGR of more than 6.5% over 2016-2024. Sidelites, commonly referred as side windows, have witnessed an increased adoption owing to its visibility properties.

Light commercial vehicle segment is projected to witness a CAGR of more than 6.5% over the coming years of 2016 to 2024. Escalating use of light weight vehicles for the transportation of goods across the rural areas may boost the product demand substantially.

Original equipment manufacturer (OEM) dominated the end use segment with a contribution of more than 80% to the overall revenue in 2015 and will record considerable growth rate over the coming seven years. The growing awareness about ensuring safety while driving will augment the industry growth.

Based on the products, automotive glass market is primarily divided into tempered and laminated. Tempered automotive glass market will register an annual growth rate of more than 6% in terms of volume over the years ahead. This product is extensively used in commercial vehicles for backlite and sidelite applications.

Laminated product segment, having had a revenue of USD 4.5 billion, is slated to earn twice of its valuation by 2024 with a CAGR of more than 6.5% over the period of 2016 to 2024. The attributing factor for the market growth is the increasing use of the product for windshields coupled with the adoption of safety norms.

Considering the geographical landscape, Asia Pacific automotive glass market contributed majorly toward the regional revenue share, owing to supportive foreign direct investment policies. Japan, China, and India will be the prominent revenue contributors for APAC automotive glass market.

U.S. automotive glass market is slated to record an annual growth rate of more than 4.5% over the period of 2016 to 2024. Surging use of glass parts in the manufacturing of light-weight vehicles will contribute toward the industry growth. In addition to this, strict rules and regulations regarding passenger safety collision resistance will also influence the regional growth.

Europe market was primarily led by Germany which will exhibit a considerable growth over the years ahead. Rising innovation to enhance passenger safety and reliability will significantly influence Germany automotive glass market – after all, Germany is a well-known global hub of innovative automotive production.

The key participants in automotive glass market are AGC Glass Europe, Guardian industries, Central Glass America, Shenzhen Benson automobile glass co.,ltd., Nippon, PPG Industries, Inc., Xinyi Glass,  Saint Gobain Sekurit, Duratuf Glass Industries Pvt. Ltd., Corning, Inc., Magna International, Inc., Fuyao Glass Industry, Pittsburgh Glass Works LLC., Fuso Glass India Pvt. Ltd., and Webasto.

Author Name :Sunil Hebbalkar

Latin America automotive aftermarket to earn considerable share via replacement parts over 2016-2024, Mexico to be the key revenue pocket

Posted on Updated on

Automotive aftermarket is likely to witness lucrative gains owing to shifting consumer focus toward the comfort, appearance, and the performance of vehicles. The subsequent wear and tear of existing automobiles will lead to car owners wanting to replace old parts, enhance the vehicle’s appearance, and replace the car’s internal components for improved efficiency and safety. Moreover, the commendable improvement in the economic stability of the consumers and the consequent rise in disposable income is another major factor propelling the automotive aftermarket industry trends. According to Global Market Insights, Inc., “Worldwide Automotive Aftermarket generated a revenue of USD 450 billion in 2015 and will exhibit CAGR beyond 4.5% over the period of 2016 to 2024.”

U.S Automotive Aftermarket Size, by Product, 2013-2024 (USD Billion)

U.S Automotive Aftermarket Size, by Product, 2013-2024 (USD Billion)

OEM, professional, and DIY are the sales outlets of automotive aftermarket. Professional sales outlet channel generated a revenue of USD 300 billion in 2015 and will record considerable CAGR over the coming timeframe. The fact that car owners will opt for product warranty, high reliability, and excellent product quality is likely to drive automotive aftermarket from professional sales outlets.

Based on the product, this market is mainly divided into two categories, namely, accessories and replacement parts. The accessories product segment will record flourishing growth rate over the coming seven years. These products are extensively used to enhance safety function, performance, and appearance of vehicle parts such as wings, alloy wheels, spoilers, styling seats, graphics. Changing preferences of customers toward comfort and aesthetically pleasing features will boost the product demand noticeably.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/1166

Replacement parts held the maximum share of automotive aftermarket with a revenue contribution of USD 350 billion in 2015. Owing to the fact that damaged parts contribute to sluggish vehicle performance, replacement parts need to be deployed in automobiles to enhance the performance and improve its appearance. The massive usage of lighting, clutch, exhaust, belt, electrical, suspension, filters, brake, wiper, and engine & AC will spur automotive aftermarket from replacement parts.

Geographically, Asia Pacific automotive aftermarket collected a revenue of USD 90 billion in 2015 and will register an annual growth rate of more than 6% over the period of 2016 to 2024. Supportive FDI (foreign direct investment) policies will promote manufacturers to invest heavily in automotive aftermarket. Moreover, the rise in per capita income will also propel the growth of this industry in the APAC regions, especially across India and China, which are slated to be the prominent revenue contributors.

In 2015, North America automotive aftermarket was worth USD 165 billion and is predicted to generate considerable revenue over the coming seven years. Significant R&D activities and innovative technological enhancements will favorably influence the industry growth.

Latin America automotive aftermarket share will exhibit notable annual growth rate of more than 5% over the coming years of 2016 to 2024. The growth can be attributed to the increasing demand for the product due to the fact that the region houses cars that are practically more than a decade old and will need significant repairs. Mexico will contribute significantly toward the regional revenue share.

Europe automotive aftermarket will collect a considerable revenue over the years ahead with a CAGR of more than 4% over the coming seven years. The attributing factors toward the market growth are increasing product demand as well as the availability of a large number of OEMs. Germany, Russia, and UK will be the prominent contributors.

The noteworthy players in automotive aftermarket are 3M Company, Delphi, Akebono Brake Corporation, Continental AG, Denso, Robert Bosch GmbH, ASIMCO Technologies ltd., ACDelco, Federal-Mogul, and Magneti Marelli, Cooper tire and rubber company, ALCO Filters, and Shandong Zhengnuo Group Co., Ltd.

Author Name :Sunil Hebbalkar

EMEA to lead automatic emergency braking market over 2016-2024, high demand from passenger vehicles to spur the industry growth

Posted on

The last few years have observed a colossal rise in the requirement for collision warning systems. Automatic Emergency Braking Market revenue is likely to observe an upswing subject to this factor. In addition, the government has mandated regulations pertaining to passenger & pedestrian protection and vehicle safety, which will further spur this industry. Today, original equipment manufacturers are emphasizing more on introducing new technologies in vehicles to ensure the safety of both the driver and commuters. In 2014, the Euro NCAP (European New Car Assessment Program) had made it mandatory for the owners to install active safety systems in their vehicles to prevent road accidents. The introduction of such norms will escalate automatic emergency braking market. According to Global Market Insights, Inc., “Automatic Emergency Braking (AEB) industry size is anticipated to surpass USD 15 billion by 2024, growing at a rate of 29.3% over the period of 2016-2024.

U.S. Automatic Emergency Braking Market size, by vehicle type, 2014-2024 (USD Million)
U.S. Automatic Emergency Braking Market size, by vehicle type, 2014-2024 (USD Million)

Taking into consideration the topographical trends, EMEA automatic emergency braking industry (Europe, the Middle East and Africa), which accounted for more than 45% of the global automatic emergency braking market share in 2015, is expected to grow notably over the years ahead. High consumer preference for advanced emergency braking systems in vehicles is expected to drive the business expansion in the region. UK and Germany are likely to make substantial contributions toward the regional revenue.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/1171

Asia Pacific automatic emergency braking market is forecast to display a huge surge over the coming seven years, subject to escalated growth of infrastructure development across the region, which will offer huge business opportunities for the numerous players of automatic emergency braking market.

Automatic emergency braking systems find extensive applications in passenger and commercial vehicles. Strict legislations implemented by the government to prevent road accidents are expected to boost the usage of automatic emergency braking systems in heavy & light commercial vehicles, thereby accelerating automatic emergency braking industry expansion.

High customer inclination toward passenger vehicles equipped with additional features will drive AEB market demand in future. High sale of luxury cars such as mini SUVs across the world is expected to enhance the deployment of proficient and reliable technologies in automatic emergency braking systems. City automatic emergency braking systems are extensively used in passenger vehicles to curtail the repair and insurance charges, thereby providing a positive impetus to global AEB market.

In April 2017, Tesla launched a second-generation autopilot hardware as a major update for its new cars. It is predicted that this new 8.1 software update in the automatic emergency braking system of the automobile will help in reducing the collision rate by 90%. As per NHTSA (National Highway Traffic Safety Administration), installation of air bags in Tesla’s first generation autopilot vehicles, which was an innovative AEB feature, helped in reducing the collision rate by nearly 40%.

Market players will try to increase their ROI through strategic collaborations and joint ventures. In 2015, Bosch had collaborated with Land Rover to build a stereo video camera through which an emergency braking system can operate merely on camera data. Such strategies are predicted to support AEB industry development.

Autoliv, Continental AG, Volkswagen, Mitsubishi Motors Corporation, The Volvo Group, BMW AG, Robert Bosch GmbH, General Motors Company, TRW Automotive, Delphi Automotive PLC, Tesla Incorporation, Mercedes-Benz, and Mobileye are the key participants of automatic emergency braking industry.

Author Name :Dhananjay Punekar

U.S. precision gearbox market to accrue heavy gains via food, beverage, & tobacco applications over 2016-2024, government regulations regarding product usage to drive the regional demand

Posted on

The rising need for automation in the manufacturing and industrial sectors will heavily influence the growth of precision gearbox market, which held a valuation of USD 1.85 billion in 2015. These gearboxes are basically speed reducers with a compact design, high load capacity, and higher torque. They are designed to run smoothly with minimal maintenance, owing to which they are extremely suitable to be used for bottling, precise product positioning, assembly lines, packaging, and controlling conveyor belts, thereby stimulating precision gearbox industry. With a target revenue anticipation of more than USD 2.5 billion by 2024, Precision Gearbox Market will grow at a CAGR of 5.2% over 2016-2024.

Germany Precision Gearbox Market size, by application, 2012-2024 (USD Million)
Germany Precision Gearbox Market size, by application, 2012-2024 (USD Million)

 

The era of automation is here to stay, as is evident from the many instances of daily life. Companies are striving to automate most of their processes to save on time and increase efficiency. For instance, ServiceNow, a massive Santa Clara-based cloud computing firm, recently launched an AI product named Intelligent Automation Engine, that is designed to be tailored exclusively to every customer’s account. The rising trend of automation in manufacturing and material handling is slated to bring about heavy growth in precision gearbox market.

The developing Material Handling Equipment Industry has been deploying automation on a large scale, subject to which precision gearbox industry is set to gain heavy traction over the coming years. This growth can be attributed to the increasing number of developments designed in new equipment. In addition, plant expansion, rising number of warehouses, and a substantial number of production facilities will fuel precision gearbox market in material handling applications.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/255

Planetary, parallel, and right angle precision gearboxes, each designed with a specialized mechanism and end-use requirement, constitute the product landscape of precision gearbox industry. The material handling sector, in particular, makes use of special parallel gearboxes that use gear units. These units are mounted on shafts on parallel axes and are very convenient for usage in material handling and for conveyor belts. Parallel precision gearbox market, having been valued at USD 200 million in 2015, will witness a remarkable CAGR over 2016-2024.

The surging demand for automation will also lead to the growth of precision gearbox industry from food, beverage, & tobacco applications. With a valuation of USD 170 million in 2015, precision gearbox market from food, beverages, & tobacco applications is anticipated to grow significantly over 2016-2024, subject to the growing consumption of packaged food and the huge requirement for operational efficient machinery in the sector.

U.S. precision gearbox industry from food, beverages, & tobacco applications is expected to chart out a profitable growth graph, as this regional market will concentrate on providing sustainable and cost-effective transportation, packaging, and production solutions. Manufacturers will achieve the highest rate of productivity at reasonable costs, by implementing automation to enable operational efficiency, thereby spurring U.S. precision gearbox market from food, beverage, and tobacco applications.

U.S. contributed to more than 80% of North America precision gearbox industry in 2015. The huge requirement for automation across the extensive manufacturing, F&B, packaging, and industrial sectors will lead U.S. precision gearbox market to earn a massive revenue over the next seven years. In addition, the U.S. government has mandated norms regarding precision gearbox utilization in ANSI standard for robotic applications. Thus, the rapidly evolving robotic sector in the region coupled with the growing manufacturing sector that concentrates on high precision, accuracy, and low operational costs will stimulate U.S. precision gearbox industry.

Global precision gearbox market from robotic applications will observe a CAGR of 6.5% over the years of 2016-2024. This growth can be primarily credited to the global surge in robotics, coupled with the rising demand for prosthetic joints to achieve precise mobility across the service robotics and manufacturing sectors.

Apart from the United States, several other countries have introduced legislations pertaining to the usage of precision gearboxes in the robotics, manufacturing, and the F&B sectors. Europe precision gearbox market, which accounted for more than 30% of the overall revenue in 2015, is slated to register high gains over 2016-2024, subject to the growing applications of the product across the F&B, packaging, and manufacturing sector.

The extensive growth of the manufacturing and robotics sector in China will also contribute to China precision gearbox industry earning a significant revenue. China’s contribution toward global manufacturing industry was around 25% in 2016. This is a marked improvement from the 7% contribution that the country made in the year 2000. With a valuation of USD 270 million in 2015, China precision gearbox market is slated to observe a high growth rate over 2016-2024. The Chinese government is also introducing initiatives to help companies automate most of their processes, which will spur the regional precision gearbox industry.

Planetary products are basically niche-oriented and provide great volatility. Having accounted for a share of more than 70% of the total precision gearbox market in 2015, this product segment is set to grow at a remarkable pace over 2016-2024. On the contrary, right angle products offer great flexibility in a limited space, and will help upgrade existing production facilities or set up new manufacturing units, thereby contributing to a substantial share of the overall industry.

Global precision gearbox market is quite fragmented, however the top players have already established a strong brand identity, posing a challenge to fresh players. Companies such as SEW Eurodrive, Siemens, and Brevini are strong participants in this market and they often engage in R&D activities to manufacture products with supremely high precision and accuracy.

Of late, companies have been focusing on manufacturing compact, lightweight, small-sized, and precise aluminum housing gears that find usage in low backlash and high transmission accuracy requirements. Increasing product demand for processes such as precise turning, bottling, food packaging, good transportation on conveyor belts, and fluid injection will heavily drive the growth of global precision gearbox market.

Author Name :Saipriya Iyer

APAC to majorly drive automotive collision repair market growth, Global revenue to surpass USD 200 billion by 2022

Posted on

Global automotive collision repair market has become massive being directly influenced by the ever-expanding automotive industry and is slated to draw a trajectory growth curve over the years to come. Technology adoption in automobiles where on one hand has enhanced the value-add of the vehicles has also increased the complexities demanding for regular maintenance and repair. This trend is emerging as one of the prominent drivers of the automotive collision repair industry growth. Moreover, the economic stability of the consumers and the upliftment in the living standards is anticipated to push the automobile sales, and consequently the automotive collision repair market value. It is projected that global automotive collision repair market will surpass a revenue of USD 200 billion by 2022.

Germany automotive collision repair market size, by vehicle, 2012-2022 (USD Billion)

Germany automotive collision repair market size, by vehicle, 2012-2022 (USD Billion)

Over the past few years, the sale of heavy-duty vehicles has seen an upsurge in response to the depleting trend of personal vehicles. This has again created a lucrative roadmap for the automotive collision repair industry, owing to the high probability of wear & tear and increased level of complexities in this section of automobiles. In addition to this, light-duty vehicles will also contribute an appreciable share in the automotive collision repair market, with a revenue surpassing USD 150 billion by 2022.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/108

The increasing traffic, mainly in the urban regions, has increased the frequency of automotive collisions significantly. These collisions usually end up in causing minor dents and scratches on the vehicles, which hampers its aesthetic value. In response to this fact, paint & coatings have emerged as a vital product segment of the automotive collision repair industry, which nearly contributed 20% to the overall share in 2015. Consumables is another lucrative product segment accounting for a major share of the automotive collision repair market.

The automotive collision repair is mainly implemented via three channels- authorized channels, small workshops, and independent channels. Authorized channels gain a noticeable profit margin through the repair of technologically advanced vehicles including sensors, etc., as this category of vehicles needs expertise and the authenticity of the small and independent workshops becomes questionable in this scenario. However, the latter gains a major traction when it comes to vehicles aged more than 8 years, owing to the lesser availability of automobile parts and high expense incurred at the authorized channels.

Asia Pacific will be one of the prominent regions partaking in the automotive collision repair industry growth. High automobile sale in this region coupled with a slow-paced adoption of safety technologies, particularly in the developing countries, have supported the regional demand. India is estimated to be the major revenue pocket for APAC.

Despite having a strong profitable roadmap ahead, the automotive collision repair industry may suffer a setback due to the advent of new safety automotive technologies such as forward collision repair, automatic emergency braking (AEB), etc. However, the expanding automotive industry will likely draw a steady growth chart for the automotive collision repair market in the years ahead. Key industry participants include 3M, ABRA Auto Body & Glass, Continental AG, BASF, Service King, and Caliber Collision.

Author Name : Shikha Sinha

Global automotive filters market to generate heavy revenue via APAC automobile industry

Posted on Updated on

Rapid technological advancements along with supportive government regulations have significantly stimulated automotive filters market growth over the recent years. In addition to this, accumulation of dirt and debris in vehicles tend to consume more amount of fuel which will drive the necessity of filter installations, in turn favoring automotive filter industry trends. According to Global Market Insights, Inc., “Global automotive filters market share is expected to register a CAGR of 8.4% over the period of 2016-2023”. Rising concern over pollution control of vehicles will further drive the automotive filter market revenue over the coming timeframe.With the expansion of the automotive industry, there has been a rapid surge in the environmental pollution. Therefore, the government worldwide is actively encouraging the use of automotive filters to curb the environmental hazards from the vehicles. Moreover, these filters prevent the vehicles from drivability issues by ensuring proper air flow to the engine, maintaining the air-fuel mixture, and facilitating the emission control systems. Huge adoption of the filters by the automobile manufacturers to ensure prolonged engine life of the vehicles will further enhance automotive filters industry growth over the coming years.

China Automotive Filters Market size, by product, 2012-2023 (USD Million)

China Automotive Filters Market size, by product, 2012-2023 (USD Million)

Automotive filters are being adopted heavily across the various automobile segments such as passenger cars, two-wheelers, and light and heavy commercial vehicles. In 2015, passenger cars dominated the automotive filters application landscape by accounting for over 50% of the overall market share. As per the study, automotive filters market size in passenger cars application is predicted to register a CAGR of 8.9% over the coming seven years. Expanding passenger cars industry due to high disposable income of the consumers along with rising health concerns due to automotive fuel emissions will boost the automotive filters industry size across passenger cars.

Get a Sample Copy of this Report:https://www.gminsights.com/request-sample/detail/497

Two-wheeler applications are another lucrative sector influencing the global automotive filters industry share. Heavy demand for two-wheelers, particularly from emerging countries such as India, China, etc. along with aftermarket for these vehicles in BRICS nations will augment the automotive filters market demand in two-wheelers. Automotive filters application in two-wheelers is anticipated to register a CAGR of 8.5% over 2016-2023.

Automotive filters product mainly comprises air, fuel, and oil filters. Automotive air filters market dominated the automotive filters product landscape and is forecast to exhibit an annual growth rate of 7.8% over the coming six years. Fuel filters market will witness a CAGR of 10.5% over 2016 to 2023, driven by its rising demand across two-wheeler and passenger cars applications. Oil filters market are poised to witness significant growth trends over the coming years, owing to its heavy adoption to ensure prolonged vehicle life.

Automotive filters market will also attain noticeable surge, driven by the revenue generated from end-use segments such as aftermarket and OEMs. Aftermarket automotive filters industry was worth USD 3.71 billion in 2015 and is predicted to contribute towards 70% of the global share by 2023. Growing trend of replacing the outdated filters will support the industry growth over the coming years.

Considering the global trends, Asia Pacific automotive filter market is projected to record a CAGR of 9% over the period of 2016-2023, having had 45% share in 2015. The growth can be credited to the rapid expansion of the automotive industry, mainly across India, China, and Japan.

Europe automotive filters industry share is predicted to surpass USD 2 billion by 2023, primarily driven by stringent government regulations and high demand for OEM products across the European region.

Over the coming years, key growth strategies adopted by the market participants will revolve around mergers & acquisitions and strategic alliances to strengthen their position in the automotive filters industry. Key industry players include Cummins, Mann+Hummel, Mahle GmbH, Denso, Lydall, Inc., and Ahlstrom. Few other prominent industry players include Parker Hannifin Corporation, Toyota Boshoku Corporation, and K&N Engineering.

Author NameSunil Hebbalkar