Oil Filter Market: To Witness Comprehensive Growth By 2018 - 2026
The global oil filter market for automotive is projected to expand at a CAGR of 3% between 2018 and 2026, according to a new research report by Transparency Market Research (TMR). According to the report, the global market is likely to be influenced by a range of political, economic, social, technical, and industry-specific factors. Latin America is expected to witness rapid rise in demand for oil filters, with the market in the region anticipated to expand at a CAGR of 3% during the forecast period. Stringent carbon emission norms, leading to lowered carbon emission levels, are expected to propel the overall oil filter market for IC engine vehicles. China 5 standards for emissions, which are similar to Euro 5, were implemented to new vehicles sold in the country, in January 2017, for gasoline engines. These standards are applicable for diesel engines from January 2018. China has mandated real-driving emissions testing modeled after the EU RDE regulations with a few e...