SAN FRANCISCO, September 19, 2016 /PRNewswire/ --
The heavy duty road filtration aftermarket industry is expected to reach USD 1.01 billion by 2024, according to a new report by Grand View Research, Inc. Rising environmental concern across countries coupled with new norms issued by the government is expected to aid the aftermarket sales for heavy duty road filtration products over the forecast period.
To curb the alarming effect of air pollution, regulatory agencies has prescribed norms & tests against the automobiles. Filters used in these vehicles are an effective way to prevent these pollutions. As a result, these rules and regulations are mainly intended to ensure the proper functioning of emission systems.
Aftermarket sales of heavy-duty on-road transportation have the ability to curb the sulfur dioxide emissions levels. However, high cost associated with OEM filters is anticipated to be the major restraining factor for the overall market over the next eight years. Nevertheless, research and innovations are being carried out that would have the ability to reduce the amount of time and money, taken during manufacturing and testing sessions.
Special techniques along with expertise are also required for the installation and maintenance of aftermarket filters. Also, special attention has to be taken by vehicle owners when they tend to select filters which would match with their vehicles. Companies such as Donaldson and Clarcor are spreading awareness and technical support reach to customers that give them a better idea towards filter usage in their vehicles.
Browse full research report with TOC on "Heavy Duty Road Filtration Aftermarket - Industry Analysis By Product (Oil, Air, Cabin, Fuel), By Application (Trucks & Buses, Construction, Mining, Agriculture) And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/heavy-duty-road-filtration-aftermarket-industry
Further key findings from the report suggest:
- Fuel filters are presumed to be the fastest growing product segment growing at a CAGR of 7.1% over the forecast period. The role of fuel filters is mainly to collect contaminants, debris and moisture in the fuel system that allows the clean filtered fuel to enter the engine.
- Construction application segment is presumed to grow at a CAGR of 7.1% over the next eight years. Various filter types are used in construction machines that primarily protect their hydraulic systems against unnecessary wear.
- Europe accounted for above 25% of the market in 2015 and is expected to continue the similar trend over the forecast period. Though the European aftermarket for heavy duty filtration is declining owing to changing economic conditions in Spain and France, it still holds a majority portion of the production of automotive and hence, the aftermarket sales.
- The industry is fragmented in nature with the presence of both regional and international market participants. This had resulted in increased competition between the manufacturers and the distributors also.
- Key companies in the industry include Cummins Filtration. MANN+Hummel, UTI Filters, Parker Hannifin Corporation, Donaldson, and SOFEGI Group.
Browse related reports by Grand View Research:
- Fuel Cell Vehicle Market - http://www.grandviewresearch.com/industry-analysis/fuel-cell-vehicle-market
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Grand View Research has segmented the global heavy duty road filtration aftermarket industry on the basis of product, application and region:
- Global Heavy Duty Road Filtration Aftermarket Industry Product Outlook (Revenue, USD Million, 2014 - 2024)
- Global Heavy Duty Road Filtration Aftermarket Industry Application Outlook (Revenue, USD Million, 2014 - 2024)
- Trucks & buses
- Global Heavy Duty Road Filtration Aftermarket Industry Regional Outlook (Revenue, USD Million, 2014 - 2024)
- North America
- The Netherlands
- Asia Pacific
- South Korea
- Middle East & Africa
- Saudi Arabia
- Central & South America
- North America
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.