The global 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.
Heavy Duty Road Filtration Aftermarket Report Highlights
- 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.
Gain deeper insights on the market and receive your free copy with TOC now @: http://www.grandviewresearch.com/industry-analysis/heavy-duty-road-filtration-aftermarket-industry
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.
Heavy Duty Road Filtration Aftermarket Insights By Region
Asia Pacific industry accounted for largest revenue share. Rapid growth of application industries across China, Japan, South Korea and India is expected to promote the demand over the forecast period. Improving automotive sector in China, and India on account of low manufacturing cost coupled with favorable government regulations is also likely to promote investments in the Asia Pacific region. Europe was the second largest market for the technology. European aftermarket is declining slowly, owing to change in the economic conditions of countries like Spain and France in the region. Despite of the global slowdown in the mining sector, Central & South America continues to grow as a major target for mining investment, development, and exploration.
Competitive Analysis By Major Companies
It is fragmented industry with many international as well as regional players. The presence of a large number of manufacturers and distributors has flooded the industry resulting in a high competition. Major industry participants include Mann & Hummel, Cummins Filtrations, UTI Filters, SOGEFI Group, Parker Hannifin Corporation, Donaldson and many others.
For More Details or Sample Copy please visit link @: https://www.grandviewresearch.com/industry-analysis/heavy-duty-road-filtration-aftermarket-industry/request/rs43
Grand View Research has segmented the global heavy-duty road filtration aftermarket industry on the basis of product, application and region.
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
For Customized reports or Special Pricing please visit @: https://www.grandviewresearch.com/checkout/select-license/heavy-duty-road-filtration-aftermarket-industry
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Contact:
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll-Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com