Market size and growth

• The global automotive filter market capacity in 2023 is 160.723 billion yuan, and it is expected to grow at a compound annual

 growth rate of 4.38% during the forecast period, reaching 204.531 billion yuan in 2029.

• At the end of 2023, the scale of China's automotive filter market is about 45 billion yuan, an increase of 7.8% over the previous year. 

It is expected to reach 60 billion yuan by 2027, with a compound annual growth rate of about 5.5%.

Industry development trend

• New energy vehicles bring opportunities: The rise of new energy vehicles has promoted the growth of demand for automotive filters.

 Automotive filters can be used to protect engines, improve fuel efficiency and reduce emissions,and are suitable for all types of vehicles.

• Environmental protection requirements promote upgrades: Environmental protection standards in various places are constantly improving,

 prompting automakers to use more efficient filters to meet emission regulations.High-performance and environmentally friendly filters will

 become the focus of development.

• Intensified competition in the aftermarket: As the service life of cars is extended, the demand in the aftermarket is growing. However, 

due to the large number of companies with small scale and fierce competition, the profit margin is shrinking and the industry will face

 consolidation and reshuffle.