Connected car and electrification are the running trends in the automotive vertical. Electric vehicles are the talk of the emerging markets as well. Also, revolution on the part of after-sales is expected. This comes in light of call for certainty. Also, there would be a paradigm shift to computing power (from horsepower). In other words, automakers are needed to re-invent themselves in the form of digital company.
Automotive digital retail would be another form of organized automotive market. Contract durations would also be flexible. Easier vehicle swapping would be turning the tide in the favour of consumers. Persistence Market Research is looking through every facet of the automotives vertical through its dedicated team of analysts and consultants.
North America holds the largest market share with the US being home to majority of OEMs like General Motors and Ford. Europe is led by Germany-based Volkswagen. The Asia-Pacific is expected to grow at the fastest pace between 2021 and 2031 due to Japan-based players leading in terms of production of automotive filters. Persistence Market Research has mentioned these facts through statistics.
The Fierce Competition
Persistence Market Research has profiled the key players in automotive filter market as follows:
• MAHLE GmbH
• Robert Bosch GmbH
• Denso Corporation
• Sogefi SpA
• Valeo SA
• Hollingsworth & Vose Company
• UFI Filters S.p.A
• Donaldson Company, Inc.
• Cummins Inc.
• Freudenberg & Co. KG
• Airmatic Filterbau GmbH
• ALCO Filters Ltd.
• EuroGIELLE S.r.l.
• Hengst SE & Co. KG
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It is a known fact that automotive filters help in reducing maintenance costs, thereby extending the vehicle’s service life. The emission bodies as well as governments all over have laid down stern emission laws regarding vehicles to check the emission of hazardous gases like nitrogen oxide, hydrocarbons, carbon monoxide, and likewise. For instance – EPA has upgraded standards like “National Program for Greenhouse Gas (GHG) Emissions” along with fuel economy standards pertaining to light duty vehicles (could be trucks or passenger cars).
Along the similar lines, cities in Germany have been entitled to execute ban on the outdated diesel vehicles as per the EU’s rules for curbing air pollution. These factors that act as catalysts to automotive filter market have been explained well by Persistence Market Research through its report mentioned above.
Growth in DIY (Do-it-Yourself) Services: A Hindrance?
There are IAMs producing as well as selling automotive filters at prices lower than various Tier 1 companies. They make use of DIY services herein. The price comes down to 20-25%. This factor may reduce the margin for OEMs, which needs to be pondered about.