The latest market research report by Technavio on the global mobile engine filtration marketpredicts a CAGR of more than 6% during the period 2017-2021.
The report segments the global mobile engine filtration market by product type (liquid filter and air filter) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global mobile engine filtration market, according to Technavio heavy industry researchers:
- Rising global automotive sales: a major market driver
- In 2016, the liquid filter segment dominated with a market share of more than 65%
- APAC held the biggest share of the market followed by the Americas and EMEA
- Bosch Auto Parts, Cummins Filtration, DENSO, MAHLE, Donaldson Company, and Parker Hannifin are the leading players in the market
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Market growth analysis
Global passenger cars and commercial vehicles witnessed a combined growth of close to 5% annually during 2011-2016. Commercial and passenger transport vehicles incorporate several different filters, including engine air intake filters, fuel oil filters, lubricating oil filters, and cabin air filters. Thus, the large volume of sales and the growth of the automotive market make the global automobile industry the biggest consumer and driver of filtration systems for mobile internal combustion engines.
According to Gaurav Mohindru, a lead analyst at Technavio for research on engineering tools, “The filtration systems in cars, buses, and other transport vehicles play a significant role in keeping the engine running smoothly while simultaneously extending the vehicle’s lifespan. Although advances in filtration technology have extended the maintenance cycle period after which the automotive engine filters need to be replaced, the market is expected to grow due to the increasing vehicle sales and demand for high-end filters.”
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Technavio researchers anticipate high growth for the global mobile engine filtration market in APAC due to the region being home to several major automobile manufacturers, two-wheeler users, and the bulk of the shipping industry, all of which explain its huge share in the global mobile engine filtration market. Many countries in APAC have been witnessing rapid economic growth and rise in the middle-class population, which is fueling the demand for new vehicles in the region.
Competitive vendor landscape
The larger vendors such as Bosch Auto Parts, Cummins Filtration, DENSO, Donaldson Company, MAHLE, and Parker Hannifin have been focusing on product innovation and developing high-performance products to meet the growing demands of end-use customers as well as increasingly stringent regulations. The smaller vendors, which mostly sell low-cost aftermarket alternatives, may be unable to compete successfully in the market as they do not have sufficient capital to invest in R&D operations. This is expected to fuel further consolidation among filtration system manufacturers as well as engine component vendors during the next five years. For instance, in February 2017, Parker Hannifin acquired major filter manufacturer, CLARCOR, which is expected to boost Parker Hannifin’s ranking in the global market significantly.
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