Press release
Heavy Duty Road Filtration Aftermarket Market Outlook Report 2024-2033 | Size, Trends, Analysis, Insights, Overview
Heavy Duty Road Filtration Aftermarket Market
The Business Research Company offers in-depth market insights through Heavy Duty Road Filtration Aftermarket Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The heavy duty road filtration aftermarket market size has grown strongly in recent years. It will grow from $3.3 billion in 2023 to $3.58 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increasing urbanization and industrialization, stringent emission standards, growth in the heavy-duty vehicle, rising environmental concerns, expansion of the aftermarket automotive industry.
The heavy duty road filtration aftermarket market size is expected to see strong growth in the next few years. It will grow to $4.76 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to stringent emission regulations for heavy-duty vehicles, expansion of the global heavy-duty vehicle fleet, increasing focus on air quality and pollution control, growth of e-commerce influencing aftermarket sales. Major trends in the forecast period include high-efficiency particulate air (hepa) filters, development of sustainable and eco-friendly filtration solutions, growth of online platforms for aftermarket sales, increasing popularity of modular and customizable filtration systems, emphasis on predictive maintenance for filtration components.
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Market Segmentation:
The heavy duty road filtration aftermarket market covered in this report is segmented -
1) By Product: Oil, Air, Cabin, Fuel
2) By Application: Trucks And Buses, Construction, Mining, Agriculture
3) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Major Driver - Construction Industry Boom Fuels Heavy-Duty Road Filtration Market Growth
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.
Competitive Landscape:
Major companies operating in the heavy duty road filtration aftermarket market report 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, Hastings Filters Inc.
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Top Trend - Product Innovation Takes Center Stage In Filtration Aftermarket
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.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Heavy Duty Road Filtration Aftermarket Market Characteristics
3. Heavy Duty Road Filtration Aftermarket Market Trends And Strategies
4. Heavy Duty Road Filtration Aftermarket Market - Macro Economic Scenario
5. Heavy Duty Road Filtration Aftermarket Market Size And Growth
…..
27. Heavy Duty Road Filtration Aftermarket Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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