Expanding fleet size of automobiles, increasing vehicle sales and favorable government initiatives to drive India automotive filter market through 2023
According to TechSci Research report, “India Automotive Filter Market By Vehicle Type, By Filter Type, By Filter Media Type, By Demand Category, Competition Forecast & Opportunities, 2013-2023’’, automotive filter market in India is forecast to grow at a CAGR of over 10% until 2023. Growing automotive industry, expanding automobile fleet and strategic capacity expansions by flagship automobile OEMs are the key factors expected to drive the market in the coming years. Government’s Automotive Mission Plan, 2016-2026 is anticipated to boost the production of automobiles in the country, which in turn would fuel the demand for automotive filters. Passenger car production in India grew from 3.23 million units in FY2013 to 3.80 million units in FY2017.
Browse 25 market data Tables and 58 Figures spread through 115 Pages and an in-depth TOC on “India Automotive Filter Market”
Fleetguard Filters Private Limited, MAHLE Filter Systems (India) Private Limited, Elofic Industries Ltd., etc., are few of the flagship players in India automotive filter market. In 2017, two-wheeler segment dominated the country’s automotive filter market and the trend is expected to continue during the forecast period as well, owing to huge fleet size of two-wheelers and increasing production and sales of two-wheelers in the country. As oil and air filters have a shorter replacement period, these segments of filters are anticipated to hold the largest market share.
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“Penetration of diesel vehicles in India automotive industry is growing rapidly. Diesel vehicles relatively have shorter replacement period for filters than petrol vehicles. In the coming years, sales of diesel vehicles in India are forecast to grow, backed by several benefits such as better mileage and comparatively lower diesel price, demand for automotive filters is also expected to grow at a robust pace over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Automotive Filter Market By Vehicle Type, By Filter Type, By Filter Media Type, By Demand Category, Competition Forecast & Opportunities, 2013-2023” has evaluated the future growth potential of automotive filter market in India, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry.
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