According to FMI, the Automotive Hydraulic Filters market is estimated to be valued at US$ 1,035.7 Million in 2022 and is projected to increase at a CAGR of 5.7% in the forecast period from 2022 to 2032.
| Market Size (2021) | US$ 978.0 Million |
| Market Size 2022 | US$ 1,035.7 Million |
| Market Size 2032 | US$ 1,803.0 Million |
| Value CAGR (2022 to 2032) | 5.7% |
The global market for automotive hydraulic filters is expected to grow by a 5.7% CAGR in the next ten years. East Asia leads the market, followed by Europe and Asia Pacific. According to studies, contamination-related problems in a vehicle engine account for 75% of all mechanical failures. As a result, there is an increasing need for effective hydraulic filters.
A wide variety of hydraulic filters are designed and developed by manufacturers for use in automobile hydraulic systems. Due to the importance of hydraulic filters, the automotive hydraulic filter is expected to witness high growth in the near future. A new forecast by FMI analysis estimates that automotive hydraulic filter sales will augment from 2022 to 2032 and is anticipated to create a growth opportunity of US$ 767.3 Million.
The analysis of automotive hydraulic filter demand from 2017 to 2021 showed a historical growth rate of less than 2.7% CAGR, with the general expansion of automobile sales driving growth as consumers increased spending amid rising disposable incomes. Initial recessionary downturns brought on by the COVID-19 pandemic in the form of lower automotive hydraulic filter sales, store closures, and manufacturing cycle interruptions momentarily halted growth hopes.
However, since infection curves have flattened since 2022, industrial production activity in important markets has restarted. As a result, FMI’s Automotive Hydraulic Filters demand projection predicts a CAGR of 5.7% by 2032.
The primary factors driving the global Automotive Hydraulic Filters industry are that the proper function of each component is crucial to lowering the maintenance cost of vehicles. The fluid filter in the car handles each part by providing lubrication and cooling them. It also helps to extend the life of the vehicles as it traps debris and dirt that can damage the linkage between the components and the internal parts of the vehicle engine.
The Automotive Hydraulic Filter Market is expanding because of the rising demand for automobiles. The ongoing urbanization, increased demand for vehicles, and awareness regarding the advantages of routine vehicle maintenance are driving the Automotive Hydraulic Filter Market.
The automotive hydraulic filters market is anticipated to expand significantly in the coming years due to increasing demand for fuel-efficient filters and emission regulations that could be an opportunity for the growth of the automotive hydraulic filters market. Strict safety norms and an emphasis on vehicle performance have led auto manufacturers to place a great deal of emphasis on advanced technology for vehicle performance. The advanced hydraulic filter is thought to be a standard feature in automobiles in the coming years.
Increasing demand for electric vehicles can negatively impact demand for hydraulic filters. In electric-powered vehicles, a radical distinction between these vehicles and gas vehicles is that much fewer parts are required for this category. For that reason, significantly less lubricant is required, which makes automotive hydraulic filters a less vital market for them.
Some hydraulic filters, which cannot be changed, can be washed away and can be washed for prolonged use. An individual set that has a cleaning utility that is currently offered in the market is required for cleaning the hydraulic filters. Since replacing hydraulic filters is not necessary, this is a long-term cost-efficient choice for vehicle owners.
However, due to the numerous benefits they provide, including zero replacement and cost savings over conventional hydraulic filters, these hydraulic filters are anticipated to impact aftermarket sales in the future.
The East Asia region is expected to witness high growth in the near future due to a rise in the demand for fuel-efficient vehicles across the region. China has a presence of major original equipment manufacturers and automobile manufacturing hubs, as well as tier-1 distributors, who have major facilities that undertake Research and Development on hydraulic filters across the region. East Asia holds around 40% of the market share in 2021 and is expected to register its dominance during the forecast period. The East Asia region comprises countries such as China, Japan, and South Korea.
The region is dominated by prominent countries like Japan, China, and South Korea, where the automotive industry is growing at a considerable rate. Moreover, the growing demand for vehicles in countries, stringent governmental policies regarding vehicle emissions, and increasing adoption of personal vehicles for daily commutes are driving the East Asia Automotive Oil Filter Market. East Asia is followed by Europe, North America, South Asia, and the Pacific. Technology development, increasing consumer acceptance, and lower prices are pushing Automotive Hydraulic Filters utilization in the East Asia region.
Key players operating in the Automotive Hydraulic Filters market include Parker Hannifin Corporation, HYDAC Technology Corporation, Pall Corporation, Baldwin Filters Inc., SMC Corporation, and Mahle GmbH.
Leading automotive Hydraulic Filters market players are focusing on expanding their customer base through various strategies such as the expansion of their product portfolio through new product launches and innovations. Key players are also adopting advanced technologies to improve their product quality. Automotive Hydraulic Filters manufacturers are also relying on tie-ups with major original equipment manufacturers and targeted mergers & collaborations to generate lucrative revenues.
| Attribute | Details |
| Growth Rate | CAGR of 5.7% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Key Regions Covered |
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| Key Companies Profiled |
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| Customization & Pricing | Available upon Request |
In 2021, the value of the Automotive Hydraulic Filters market reached over US$ 978.0 Million.
During the forecast period, the Automotive Hydraulic Filters market is estimated to expand at a CAGR of 5.7% from 2022 to 2032.
The Automotive Hydraulic Filters market is projected to reach US$ 1,803.0 Million by the end of 2032.
China is projected to lead the Automotive Hydraulic Filters market in the forecast period.
The key players operating in the Automotive Hydraulic Filters market are Parker Hannifin Corporation, Pall Corporation, and HYDC Technology Corporation.
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Automotive Hydraulic Filters Market
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