Indonesia Oil and Fuel Filter Market Outlook, 2023-2029: Surge in Commercial Vehicles Boosts Demand, Passenger Cars Lead the Way, Aftersales Segment Poised for Growth
DUBLIN, Dec. 8, 2023 /PRNewswire/ -- The "Indonesia Oil and Fuel Filter Market Outlook: Market Forecast By Vehicle, By Sales Channel, By Filter Type, By Filter Media and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Indonesia Oil and Fuel Filter market revenue size is projected to grow at a CAGR of 5.8% from 2023E-2029
The automotive industry is one of the primary pillars supporting the development of the industrial sector and the overall national economy, as evidenced by the growth of the transportation and shipping industry by 21.27% in 2021-2022 and as estimated almost 4% of Indonesia's GDP comes from the car industry alone.
As per government stats, almost $9 billion had been invested in the automotive industry resulting in the production of 2.35 million vehicles in 2021. Also, the sales tax rebates offered by the government for automobiles are expected to boost the utilization and performance of the automotive component industry while reducing sales shocks and giving traction to the automotive industry's growth in the coming years.
Growing demand for commercial vehicles coupled with automotive fleets would result in a surge in demand for oil and fuel filters in the coming future.
Indonesia Oil and Fuel Filter Market Synopsis
Indonesia Oil and Fuel Filter Market during the COVID-19 pandemic, in 2020, was negatively affected as there was a decline in sales of automobiles caused by border closures, lockdowns, and supply chain disruptions.
The disruptions were further aggravated due to the constraints in the import of many critical parts of vehicles along with the global shortage of semiconductor chips used in automobiles. However, with a double-digit growth rate of 17.82 percent in 2021, the automobile sector in Indonesia saw extraordinary development.
A total of 1.79 million passenger cars and commercial vehicles were produced annually in 2022 which pushed the market for related sub-sectors to gain a growth momentum. The rising automotive fleet in Indonesia is expected to drive the demand for oil and fuel filters in the future due to the necessity of more frequent oil filter changes to enhance engine performance.
Market by Vehicle
Passenger cars accounted for the highest revenue and volume share in 2022 and are expected to witness the same in coming years owing to the rise in production and sales of ICE coupled with the rising fleet.
Market by Sales Channel
Aftersales segment is expected to grow the most in the Indonesia Oil And Fuel Filter market during the forecast period, owing to the higher frequency of changing of oil and fuel filters in old vehicles to enhance engine performance and fuel efficiency which could enhance the longevity of engine and components and prevent costly repairs.
Market by Filter Type
Oil filters accounted for the majority of revenue and volume share in 2022 and are expected to witness the same trend in the future on the back of the necessity of frequent oil filter replacements required in order to enhance the longevity and performance of ICE.
Market by Filter Media
Synthetic laminated filters in the oil and fuel market in Indonesia accounted for the highest revenue and volume share in 2022 and would witness the same trend in the future owing to wider application and popularity among OEMs due to better durability.
Key Highlights of the Report
- Indonesia Oil And Fuel Filter Market Overview
- Indonesia Oil And Fuel Filter Market Outlook
- Indonesia Oil And Fuel Filter Market Forecast
- Historical Data and Forecast of Indonesia Oil And Fuel Filter Market Revenues for the Period 2019-2029F
- Historical Data and Forecast of Indonesia Oil And Fuel Filter Market Revenues, By Vehicle, for the Period 2019-2029F
- Historical Data and Forecast of Indonesia Oil And Fuel Filter Market Revenues, By Sales, for the Period 2019-2029F
- Historical Data and Forecast of Indonesia Oil And Fuel Filter Market Revenues, By Filter, for the Period 2019-2029F
- Historical Data and Forecast of Indonesia Oil And Fuel Filter Market Revenues, By Filter Media, for the Period 2019-2029F
- Industry Drivers and Restraints
- Industry Life Cycle
- Porter's Five Force Analysis
- Impact Analysis of COVID-19
- Industry Trends
- Indonesia Oil And Fuel Filter Market Import-Export Trade Statistics
- Key Performance Indicators
- Company Ranking
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Company Profiles
- Anugerah Spareparts Sejahtera
- Sakura Filter
- Parker Hannifin Corporation
- Micfil Ultra Fine Filter Gmbh
- K&N Engineering
- Ahlstrom
- Bosch
- Duta Nichirindo Pratama
- Pt Jimco Sukses
Market Scope and Segmentation
By Vehicle
- Passenger Cars
- LCV (Light Commercial Vehicle)
- HCV (Heavy Commercial Vehicle)
By Sales Channel
- OEM
- Aftermarket
By Filter Type
- Oil Filter
- Fuel Filter
By Filter Media
- Cellulose
- Synthetic-laminated
- Pure Glass
For more information about this report visit https://www.researchandmarkets.com/r/tu774g
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