Transmission Oil Filters Market Report includes an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.
Ocean View, DE -- (SBWIRE) -- 06/25/2020 -- Asia Pacific transmission oil filters market has witnessed unprecedented gains over the years due to the increase in automobile production activities in China and India. The growing need to enhance the economic conditions as well as the need to meet the consumer demands has supplemented advancements in the automobile sector over the years.
FDI received from other nations due to the availability of cheap raw material and labor has driven the establishment of various automobile production facilities in Asia Pacific. India in particular attracted USD 22.4 billion worth automobile FDI between April 2000 to June 2019, accounting for nearly 5.1% of the total inflow of FDI. Moreover, the presence of various leading regional automobile brands like Toyota, Hyundai, Maruti Suzuki, Kia, Honda, and many others is a major factor behind the escalating demand for transmission oil filters.
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The economic improvement among people in developed and developing nations over the years has amplified the sale of automobiles. As per reports, in the year 2018, close to 97.2 million vehicles were registered across the globe and in 2017. Transmission oil filters find extensive use in both, passenger and commercial vehicles. The component runs the essential duty of keeping the contaminating particles out of the transmission fluid.
The use of an ineffective filter may lead to the transmission fluid reaching a point where it is too dirty to carry out an effective job. The product is developed to remove dirt from oil which is used in the engine, lubricating and hydraulic systems. Transmission oil filters are widely used in the automatic gearboxes and sit in the oil sump as compact flat filters. Superior performance, operating safety, high switching convenience are all dependent on reliable lubrication systems and require a filter media that efficiently filters oil of unwanted particles over long durations.
To understand the product better, these form a vital part of a vehicle and are placed above the transmission pan that catches any excess fluid and below a pickup tube that is connected to the oil pump that regulates the pressure of fluid in the transmission. Apparently, with time the transmission oil filters are required to be changed to ensure the efficiency of the component and to allow an obstruction-free flow of oil. The regular need to change the filters will be a primary factor driving transmission oil filters market trends.
Wide usage of spin-on transmission oil filters in trucks
Spin-on transmission oil filters are one of the most popularly used products, especially in the trucks, owing to their size fit. These filters enhance the filtration efficiency leading to the absence of small particles in the engine oil. It extends the life of engine and oil filters and reduces the cost of operation and maintenance. Moreover, it also reduces friction that increases the efficiency of fuel and engine.
With an increase in the number of cross border movement of goods and raw materials, trucks have witnessed increased demand due to the need to transport bulk items or items in large quantities. Superior dirt handling capacity, low-pressure loss, and high efficiency are some of the main features of the component influencing its use.
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COVID-19 and its impact on the automobile sector
The recent coronavirus pandemic has severely affected businesses across various sectors of the economy, including the automotive sector. With huge layoffs in many companies, people are left with limited money to spend especially on luxury items like cars. Additionally, the restriction on the movement of people and goods imposed by the governments in major parts of the world with an aim to curb the spread of the virus has largely impacted the supply chain of products.
A temporary halt in the production capabilities leading to a rapid fall in the demand for products has largely impacted the global transmission oil filters market size. However, with time and gradual relaxations in the restriction, the market is sure to gain momentum. Some of the prominent transmission oil filter manufacturers operating worldwdie include IBS Filtran GmBH, Hitachi Automotive System Ltd., Toyota Boshoku Corporation, Donaldson Company, and Parker Hannifin, among various others.
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