PUBLISHER: The Business Research Company | PRODUCT CODE: 1353617
PUBLISHER: The Business Research Company | PRODUCT CODE: 1353617
“Heavy Duty Road Filtration Aftermarket Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on heavy duty road filtration aftermarket market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for heavy duty road filtration aftermarket? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The heavy duty road filtration aftermarket market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the heavy duty road filtration aftermarket market are: Denso Corporation, Parker Hannifin Corporation, MAHLE GmbH, Mann+Hummel Holding GmbH, Donaldson Company Inc., Pall Corporation, Filtration Group Corporation, Sogefi SpA, UFI Filters Group, Cummins Filtration Inc., Hengst SE & Co. KG, Clarcor Inc., Purolator Filters LLC, Baldwin Filters Inc., G.U.D. Holdings Inc., Fram Group Operations LLC, K&N Engineering Inc., Fleetlife Inc., Sure Filter, ACDelco, Nordic Air Filtration A/S, Luber-Finer Inc., Ryco Filters, ALCO Filters, Kleenoil USA Inc., Sakura Filters, Filvent (Pty) Ltd., Fumoto Engineering of America Inc., Afpro Filters GmbH, and Hastings Filters Inc.
The global heavy duty road filtration aftermarket market is expected to grow from $3.04 billion in 2022 to $3.30 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The heavy duty road filtration aftermarket market is expected to reach $4.41 billion in 2027 at a CAGR of 7.5%.
The heavy-duty road filtration aftermarket market consists of sales of pipeline screens, differential pressure indicators and filter elements. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Heavy-duty road filtration aftermarket refers to the market segment that deals with the manufacturing, distributing, and selling of filtration products specifically designed for heavy-duty vehicles and equipment used on roads. They are used to support fleets of all sizes to ensure trucks are serviced.
Asia-Pacific was the largest region in the heavy duty filtration aftermarket market in 2022. The regions covered in heavy-duty road filtration aftermarket report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main heavy duty road filtration aftermarket product types are oil, air, cabin, and fuel. Oil filters refer to a mechanical mechanism that prevents contaminants, dirt, and unburned fuel from entering the system. The various application are trucks and buses, construction, mining, and agriculture and the sales channels are original equipment manufacturer (OEM), and aftermarket.
The growing construction sector is significantly contributing to the growth of the heavy-duty road filtration aftermarket market going forward. The construction industry refers to the area of business and manufacturing concerned with building, preserving, and fixing infrastructure. Heavy-duty road filtration is used in construction vehicles to extend their life and improve their performance during the construction process by filtering the dust and nitrogen oxides emitted by the vehicle. For instance, in May 2023, according to the reports shared by the United States Census Bureau, a US-based government agency, construction spending increased from $1,768.2 billion in March 2022 to $1,834.7 billion in March 2023, a 3.8% increase in construction spending. Further, an estimated 1,595,100 housing units were started in 2021, that increased by 15.6% from 1,379,600 in 2020 in the US. Therefore, the growing construction sector will drive the heavy-duty road filtration aftermarket market.
Product innovation is the key trend gaining popularity in the heavy-duty road filtration aftermarket market. Major companies operating in the heavy-duty road filtration aftermarket market are focusing on increasing the efficiency and functionality of their heavy-duty road filtration offerings. For instance, in February 2021, Luber-finer, a US-based provider of premium filtration solutions for on-highway and off-road fleets operating vehicles, launched Finer-Flow, an advanced air filter designed for heavy-duty engines. It is uniquely designed with precision-pleat technology that creates a precise separation between each pleat to maximize dirt-holding capacity. It uses an enhanced filtration technology that maximizes airflow and provides more excellent engine protection.
In October 2022, UFI Filters Group, an Italy-based filtration system manufacturer, acquired Friedrichs Filtersysteme GmbH for an undisclosed amount. The acquisition strengthens UFI's hydraulic filtration manufacturing capabilities and expands UFI's market across Europe and Germany. Friedrichs Filtersysteme GmbH is a Germany-based manufacturer of hydraulic filtration systems for industry and automobiles.
The countries covered in the heavy-duty road filtration aftermarket market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The heavy duty road filtration aftermarket market research report is one of a series of new reports from The Business Research Company that provides heavy duty road filtration aftermarket market statistics, including heavy duty road filtration aftermarket industry global market size, regional shares, competitors with a heavy duty road filtration aftermarket market share, detailed heavy duty road filtration aftermarket market segments, market trends and opportunities, and any further data you may need to thrive in the heavy duty road filtration aftermarket industry. This heavy duty road filtration aftermarket market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.