|
|
 |
|
Viewing report
|
|
|
|
Selected North American Filters Aftermarket
Frost & Sullivan, Sep 2008
This research deliverable N309 is an analysis of the North American filters aftermarket. The study sizes the market by units and revenues, analyzes the major participants, and the factors contributing to the current state of the market. Forecasts for units and revenues are provided through to 2014.
This Frost & Sullivan research service titled Selected North American Filter Aftermarket provides a market segmented breakdown and analysis of revenue and unit sales across six filtration systems for three vehicle classes, namely Light Vehicles (Class 1-3), Medium Duty Vehicles (Class 4-5), and Heavy Duty Vehicles (Class 6-8). It also provides a complete analysis of key market drivers, restraints, and trends that are impacting the automotive filtration industry in North America.
Market Overview
Heavy-duty Vehicle Filtration Aftermarket Leading Market Growth
The continued commoditization of the filtration aftermarket has pushed manufacturers of filtration products for light vehicles to rethink their operational strategies and relationships with stakeholders. On the other hand, the heavy-duty market operates with a different set of demand fundamentals and continues to grow, responding to the exogenous factors affecting the industry. The main factor underlying growth is sustained and increased fleet mileage, given the status road transport enjoys as the preferred mode for freight delivery. Premium and higher priced filters will increase margins per segment and revenues. Pre-buying activity ahead of EPA 2010 implementation is expected to drive heavy-duty vehicle sales and overall filtration replacement rates.
However, the North American automotive selected filters aftermarket is a high-volume, low-price industry that is experiencing challenges in both unit shipment and pricing. The reason for this is that the automotive selected filters aftermarket is sensitive to economic conditions and pricing of commodities. 'Tightening credit, rising adjustable-rate mortgage expenditures, and increasing oil prices have resulted in lower consumer disposable income and upward inflationary pressures,' notes the analyst of this research service. 'While the Canadian econony saw stable growth in 2007, it may experience difficulties in 2008 as it is impacted by the condition of its largest trade partner across the border.'
Decrease in New Vehicle Sales expected to Bolster Growth
Due the credit crunch and lower consumer purchasing power, new vehicle sales is expected to descend to a 10-year low of 15.8 M unit in 2008, increasing the average age of vehicles in operation (VIO). Consequently, there will be a greater number of vehicles that are out of their manufacturer's warrantee period, expanding aftermarket demand for automotive parts supplies, including filtration systems. Growth in the short term is expected to be limited due to decreases in the numbers of miles driven, as consumers react to the current economic contraction. In the long run, however, increased number of VIO outside the warranty period and increased vehicle usage with economic growth will lead to increased demand in the filters aftermarket.
Overall, oil and air filters contributed to a near approximate of 70 percent of revenues generated in the selected filters aftermarket. While only comprising 2 percent of revenues in the total filter aftermarket, the cabin air filter aftermarket is the fastest-growing product segment in most manufacturers’ portfolios. 'Individual filter unit pricings are expected to decrease due to the introduction of lower-cost imports,' says the analyst. 'This decline is expected to be balanced out by the increase in premium filter offerings and the undisputed fact that heavy-duty consumers are mostly interested in performance filters with higher efficiency rates that will allow participants to sell their products at a higher unit price.'
Customers who bought this item also bought
North American Heavy Duty Selected Filter Aftermarket
North American Class 4 - 8 Starters and Alternators Aftermarket
Analysis of Key HVAC and Engine Cooling Components in the North American Commercial Vehicle Aftermarket
Analysis of Key HVAC and Engine Cooling Components in the North American Commercial Vehicle Aftermarket
North American Cabin Air Filters Aftermarket
North American Automotive Filter Aftermarket
North American Cabin Air Filter Aftermarket
North American Selected Accessories Aftermarket
North American HVAC Components Aftermarket
North American Belts, Hoses, Gaskets, and Seals Aftermarket
North American Class 6-8 Truck Chassis Systems and Components Aftermarket
North American Cargo Management Aftermarket
|
|
|
|
