FORT WORTH, Texas, May 27, 2015 /PRNewswire/ --
The global fluid filter market had a market size, in terms of value, of $823.1 million in 2014, and is expected to reach $1,463.7 million by 2019, growing at a CAGR of 12.2% from 2014 to 2019.
Browse through the TOC of Automotive Fluid Filter Market for an analysis of industry trends and segments, with the help of various tables and figures.
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As of 2014, Asia Pacific is estimated to hold the largest share in the global fluid filter market, followed by North America and Europe. The fuel filter segment is estimated to account for the largest share, by value, in 2014 followed by the oil filter segment.
Changing lifestyles and the growing demand for comfort in every aspect of life is giving rise to the invention of various machines, which drives the market for fluid filters. Factors such as increasing vehicle production, stringent emission norms, increasing adoption of personal cars for daily commutes in emerging economies, and small but efficient filters also drive the fluid filter market.
On the other hand, factor such as longer drain intervals are acting as restraints for the fluid filter market. Nevertheless, increasingly stringent governmental norms regarding pollution create growth opportunities for market players.
The major players in the fluid filter market are Cummins Inc. (U.S.), Mann+Hummel (Germany), and Mahle GMBH (Germany).
The North America fluid filter market will grow at a CAGR of 14.3% during the period 2013 to 2018 generating revenue of $190.93 million by 2018. The increasing research and development for developing more advance products has led to the introduction of technologies which has increased the life of the filters.
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