The European Service Parts Market 2011-2019; Market size, market forecast and recommendations

Published: June 2016
No. of Pages: 68
    ReportsandReports

Summary
The passenger car engine oil market will continue to evolve over the next four years to 2019. Emissions regulations, manufacturers'' desire for improved durability and motorists'' pursuit of greater fuel economy will continue to drive demand for higher value engine oils, which use higher quality base oils, include innovative new additive ingredients and which offer lower levels of viscosity. As a result, the lubricant is becoming an increasingly important component within the engine. Working closely with oil and additive companies is essential because the interaction between the oil and the components can make the difference between an optimized system and one that is functioning poorly.
Emissions regulations also shape the market demand for components like spark and glow plugs. Smaller capacity engines are now commonplace in the vehicle parc, with the result that spark and glow plug designs are changing. Downsized engines and more strict packaging requirements are driving the need for a thinner, longer glow plug, and there is also considerable RandD investment in developing new conductive materials, including ceramics, to ensure that the operation of the next generation plug is optimized.
The market for service parts including vehicle filters is also being affected by changing technologies, with newer vehicles often featuring in-built filters, whilst the number of older vehicles in the parc is suppressing demand. The major drivers of growth for the filters market is the increase in the production of vehicles, the increasing focus of vehicle owners on preventative maintenance, the increasing average age of vehicles in operation and the increasing number of miles driven per vehicle. In this market, oil filter, air filter, fuel filter and cabin air filters are some of the major segments of automotive filters. The fuel filter and cabin air filter segments are expected to show above average growth during the forecast period. Within the global automotive filter market, the oil filter segment is expected to remain as the largest market. Rising vehicle production and increasing demand from original equipment manufacturers (OEMs) and the aftermarket is expected to spur growth for this segment over the forecast period.


Key Findings
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Published By: Verdict
Product Code: Verdict303


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