Automotive Exhaust Systems Market Is Likely To Surge At A Vigorous 4.0% CAGR During The Assessment Period 2021 - 2031

Monday, 23 May 2022, 6:56 pm
Press Release: Future Market Insights

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.

Request a Sample of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-706

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.  

Download PDF Brochure @ https://www.futuremarketinsights.com/reports/brochure/rep-gb-706 

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

Speak to our Research Expert: https://www.futuremarketinsights.com/ask-question/rep-gb-706 

Top Reports Related To Automotive Market Insights

Aircraft Strut Market are expected to surpass US$ 8.5 Billion by 2032 - Comprehensive Research Report by FMI

Automotive Oil Pressure Switch Market is expected to be valued at US$ 9.6 Billion in 2032 - Comprehensive Research Report by FMI

Trim Tabs Market is anticipated to grow at a steady CAGR of over 3.1% during the forecast period from 2022 to 2032 – Comprehensive Research Report by FMI

Vehicle Starter Motor Market is expected to total US$ 9 Bn by the end of 2032 – Comprehensive Research Report by FMI

Marine Fuel Filter Market to reach a valuation of US$ 4001.7 Mn by 2032 - Comprehensive Research Report by FMI

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact

Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
LinkedIn| Twitter| Blogs
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/Automotive-Exhaust-Systems-Market
Press Release Source: https://www.futuremarketinsights.com/press-release/Automotive-Exhaust-Systems-Market

© Scoop Media

Future Market Insights

Future Market Insights is the premier provider of market intelligence and consulting services

Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, UAE, and has its global delivery center in India. In addition to these, FMI also carries out business development and client engagement through its US and UK offices.

Contact Future Market Insights

• Website - Reports
• Link - Published Reports
• Link - Upcoming Reports
• Link - Blogs
• Link - Media Center
• Event - Growth Opportunities in Vegan and Plant Based