Skip to main content

Automotive Exhaust Systems Market Will Escalate Rapidly in the Near Future

ESOMAR certified consulting firm Future Market Insights’ recent report on the automotive exhaust systems market forecasts a relatively stable outlook for FY 2021-22, compared to the previous year, as the global automotive industry emerges from the recessionary impact of the coronavirus pandemic crisis. As production cycles resume, a gradual recovery is anticipated in the short-run, eventually translating into a stable outlook through 2031.

According to the report, growth prospects were weighed down significantly, attributed largely to a mature and stagnation in growth curves across the global automotive industry. Projections reflected a value of just under US$ 25 billion in 2017. In addition, automotive sales witnessed a marked decline of over 5%, down to nearly 92 million units by 2019.

In spite of such downswings, growth has been sustained by increasing drives towards attaining zero carbon emission goals. Initiatives such as the UK government’s Road to Zero project have pledged to achieve at least a 70% sales figures with respect to low emission cars. Likewise, the US EPA’s Cleaner Trucks Initiative seeks to revise NOx emission levels, with strides already visible in the form of a 40% reduction in emission levels since 2001. The market is poised to expand at over a 4% CAGR through 2031.

Key Takeaways from FMI’s Automotive Exhaust Systems Market Study

  • Mufflers to cement its dominance, expanding at over 4% CAGR through 2031, by product type
  • By vehicle type, passenger cars are expected to retain the crown through 2021 and beyond
  • Automotive exhaust systems for gasoline driven vehicles to experience a substantial incline
  • Aftermarket sales to account for the maximum share in the automotive exhaust systems market
  • Key initiatives, including the Cleaner Trucks Act, to largely elevate automotive exhaust sales across the US
  • UK market to expand amid increasing LCV registration frequencies through 2021
  • Intensive EV infrastructure development to elevate German automotive exhaust systems growth prospects
  • China to cement its presence across the Asia-Pacific, characterized by a robust local manufacturing base

“Key manufacturers of automotive exhaust systems are emphasizing on incorporating selective catalytic reduction (SCR) technology based emission curbing approaches, prompting numerous innovations and product launches, expected to widen revenue pools across the forecast period,” says an FMI analyst.  

Competitive Landscape

Prominent automotive exhaust systems manufacturers are leveraging the most contemporary developments prevailing across the global automotive industry, including the quest to achieve carbon neutrality, spurring various technological advancements in compliance with key regulatory provisions.

To achieve this goal, prominent automotive aftermarket player Bosal International N.V. announced the launch of a new manufacturing unit and R&D center in Shanghai, China, in February 2021. This venture will support a supply contract for its original equipment customer Geely, to develop an eco-friendly exhaust system for the Volvo XC40 passenger car.

Also, Faurecia S.A. announced in February 2021 that it has acquired a significant stake in CLD, one of China’s largest high-pressure tank manufacturers to develop homologated type III and IV hydrogen storage tanks for the Chinese automotive market. This development is significant as China is expected to represent at least one million fuel cell vehicles by 2030.

Key Segments Covered

By Product Type

  • Exhaust Manifold
  • Muffler
  • Catalytic Converter
  • Oxygen Sensor
  • Exhaust Pipes

By Vehicle Type

  • Passenger Car
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

By Engine Type

  • Gasoline
  • Diesel

By Sales Channel

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

For More Info@ https://www.futuremarketinsights.com/reports/Automotive-Exhaust-Systems-Market

Comments

Post a Comment

Popular posts from this blog

Frozen Foods Market Demand, Supply, Growth Factors, Latest Rising Trend and Forecast to 2032

 The Frozen Foods Market has experienced a significant transformation in recent years and continues to be a prominent and dynamic segment of the global food industry. As we move into 2033, this market remains a crucial part of modern lifestyles, offering a wide variety of convenient and preserved food options for consumers. The growth of the Frozen Foods Market is fueled by changing consumer preferences, technological innovations, and an ever-increasing demand for convenient, time-saving, and nutritious meal solutions. In 2033, the Frozen Foods Market is expected to continue its upward trajectory, as more consumers seek the benefits of frozen products. This market encompasses an extensive range of items, from frozen vegetables and fruits to ready-to-eat meals, appetizers, and desserts. The versatility and extended shelf life of frozen foods have made them an essential staple in many households. Consumers are drawn to the convenience of having quick, easy-to-prepare, and
Post a Comment
Read more

Perineal Care Market : Value Chain, Stakeholder Analysis and Trends by 2032

 The perineal care market is a segment of the healthcare industry that focuses on products and services designed to maintain hygiene and manage health concerns in the perineal area. The perineal region includes the genital and anal areas, and effective perineal care is crucial for maintaining personal comfort and preventing various health issues, particularly in aging populations and individuals with limited mobility. One of the primary drivers of the perineal care market is the growing aging population worldwide. As people age, they may experience mobility issues, incontinence, and an increased risk of developing conditions like pressure ulcers. Proper perineal care is essential in preventing complications and maintaining the quality of life for elderly individuals, leading to increased demand for perineal care products and services. In addition to the elderly population, perineal care is vital in healthcare settings, particularly in hospitals and long-term care facilit
Post a Comment
Read more

U.S. Automotive and Aircraft Interior Genuine Leather Aftermarket Key Players, Industry Overview, Applications and Analysis 2031

  The   U.S. automotive and aircraft leather aftermarket  is projected to reach a valuation of   US$ 7.8 Bn   in 2021. Rising demand for high-quality, lightweight, and durable leather for automotive and aircraft interiors is expected to push sales at   3.6% CAGR,   with the market valuation reaching   US$ 11.1 Bn   in 2031. Automotive and aircraft interior genuine leather is designed to provide comfort and to improve the visual appeal of the interiors. It also leaves the vehicle with a remarkable appearance and feel. It is used widely in midrange and premium passenger vehicles and in business class aircraft. The interior of a vehicle and aircraft that adds to the aesthetic appeal, is also a major factor that influences consumer buying decision. Longer operational life and extended warranties are some factors aiding the growth of the market. Request a Sample of this Report @   https://www.futuremarketinsights.com/reports/sample/rep-gb-14237 Leather manufacturers are providing customizat
3 comments
Read more