Motor vehicles dominated the application segment and accounted for more than 50% of the global share in terms of revenue in 2013. This segment was valued at more than USD 25 billion in 2013 and is expected to continue its dominance over the forecast period.
Key uses in motor vehicle segment involve intake of oil, air, and fuel. The application growth is expected to be supported by installment of newer products in the automobile for original and aftermarket (replacement) providers. New products include cabin air and diesel emission filters.
Industrial & manufacturing was the second largest application segment and registered well above USD 10 billion in 2013. This segment is expected to grow at an estimated CAGR of 6.7% from 2014 to 2020. Improved manufacturing outlook coupled with efforts in reducing industrial pollution is expected to drive the demand.