CLEVELAND, June 20, 2017 /PRNewswire/ -- Aftermarket demand for automotive filters in North America is forecast to advance 2.4% per annum through 2021 to US$4.1 billion. Sales will be boosted by:
- growth in the size of the region's light vehicle park and the number of miles driven annually
- high income levels in the US and Canada and rising income levels in Mexico
- ongoing consumer education efforts by manufacturers and automotive technicians regarding the replacement of cabin air filters
- increases in raw material and product prices
- relatively stringent environmental regulations in the US and Canada and the enactment and enforcement of stricter environmental controls in Mexico
Oil filters comprised the largest share of the North American automotive filter aftermarket in 2016, totaling US$1.6 billion in sales and representing 44% of the market. These products hold a leading share of the market due to the frequency with which oil changes are performed (and the associated filters replaced) as a part of routine maintenance. These and other trends are presented in Automotive Aftermarket for Filters in North America, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Engine air intake filters commanded the second largest share of regional aftermarket filter demand in that year, accounting for 31% of overall sales. This share of demand is down from a decade ago, reflecting product improvements that lengthen the useful lifespan of air intake filters.
More information about the study is available at https://www.freedoniagroup.com/industry-study/automotive-aftermarket-for-filters-in-north-america-by-product-and-performer-3534.htm
Related studies include:
- #3512 Automotive Aftermarket for Brake Parts in North America (April 2017)
- #3505 Automotive Aftermarket for Powertrain Components in North America (March 2017)
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Automotive & Transport studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group