A new research report by IMARC Group, titled “Oil Filter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, estimates that the global oil filter market was worth US$ 3.2 Billion in 2021. The report further anticipates the market to reach US$ 4.4 Billion by 2027, at a projected CAGR of 5.8% over the forecast period. Oil filter is a device which is specifically designed for eliminating foreign particles and impurities from different types of automotive oils such as transmission, engine, hydraulic and lubricating oil. In case the oil is left unfiltered for a longer period of time, it can get saturated and damage the bearing surfaces of the engine. Oil filters eliminate dirt and sludge which enables the engine to function smoothly while reducing emissions as well as decreasing the annual consumption of fuel. In addition to this, these filters help in monitoring the pressure and cooling the oil, leave no oil residue and are easy to replace.
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Global Oil Filter Market Drivers/Constraints:
- There has been a significant rise in the production of commercial vehicles owing to an upsurge in construction activities in the urban areas. This is one of the major factors which has been driving the growth of the market.
- Governments of numerous nations have introduced various regulations to limit the rising amount of greenhouse gases and pollutants generated by automobiles. This has, in turn, contributed towards an augmented demand for oil filters across the globe.
- Some of the factors which have been positively influencing the market growth include flourishing automotive industry as well as the development of sophisticated engine designs and clean fuel levels in oil filters by various manufacturers.
- There has been a rapid rise in the demand for electric vehicles across the globe which is considered to be one of the major factors impeding the growth of the global oil filter market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global oil filter market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on end-use and fuel type.
- CLARCOR Inc.
Breakup by End-Use:
- Passenger Cars
- Commercial Vehicles
Breakup by Fuel Type:
Breakup by Region:
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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