ACCESS Newswire
14 Apr 2021, 19:13 GMT+10
Manufacturers are incorporating exhaust mufflers, which are highly efficient silencer exhaust system to curb the noise pollution. Adoption of advanced technologies is accelerating growth.
DUBAI, UAE / ACCESSWIRE / April 14, 2021 / Despite a slight set-back due to the pandemic, automotive exhaust system is expected to grow at a steady rate, evaluates ESOMAR-certified consulting firm Future Market Insights. Recovery in automotive industry is set to accelerate sales of automotive exhaust systems through 2021 and beyond.
Initiatives such as US EPA's Cleaner Trucks Initiatives adopted to ensure a sustainable environment and implementation of stringent regulations to curb vehicular emission will encourage the incorporation of automotive exhaust systems. Also, leading market players are focusing on launching eco-friendly exhaust system, which will create lucrative growth opportunities over the forecast period.
Surging preference to incorporate exhaust gas recirculation and selective catalytic reduction- derived exhaust system technology among leading players is accelerating the sales.
'With governments around the world implementing stringent regulations to curb pollution, manufacturers are compelled to focus on the development of exhaust systems with eco-friendly technology. Their efforts also are aimed at achieving a competitive edge in the industry,' remarks the FMI analyst.
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Key Takeaways
Prominent Drivers
Key Restraints
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Competitive Landscape
Prominent players operating in the automotive exhaust system market profiled by FMI include Faurecia S.A., Tenneco Inc., Eberspacher Group, Friedrich Boysen GmbH & Co. KG, Benteler International AG, Futaba Industrial Co. Ltd., Yutaka Giken Co. Ltd., Bosal International N.V., and Sejong Industrial Co. Ltd. among others. According to FMI study, key players are relying on penetrating the regional markets by focusing on product renovation and acquisition of small players.
In January 2020, BENTELER announced collaboration with Sony at CES 2020 in Las Vegas. Also, around the same time of the year BENTELER announced the launch of its new production site in Germany for the company's Automotive Division to produce trays for German manufacturers.
On 25th March 2021, Power Management Company Tenneco and Eaton announced a joint venture agreement between Eaton's Vehicle Group and Tenneco's Clean Air business group to generate an integrated exhaust thermal management system that will enable commercial fleet vehicles and light vehicle manufacturers to meet upcoming emissions regulations.
More Insights on FMI's Automotive Exhaust Systems Market
Future Market Insights presents an in-depth insight on global automotive exhaust systems market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and challenges, the market is segmented on the basis of product (exhaust manifold, muffler, catalytic converter, oxygen sensor, and exhaust pipes), vehicle (passenger car, light commercial vehicle and heavy commercial vehicle), engine type (gasoline and diesel), sales channel (OEMs and aftermarket) across seven major regions of the world (North America, Latin America, Western Europe, East Europe, APEJ, Japan, and MEA).
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About Future Market Insights (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, and has delivery centers in the UK, 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.
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SOURCE: Future Market Insights
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