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The global automotive exhaust muffler market is scheduled to expand at a CAGR of 6.2% from 2022 to 2032, reaching US$ 18,552.29 Mn in value by the end of the aforementioned forecast period. The market is rising on account of the heightening need to reduce emissions- noise or otherwise- from automotive exhaust systems.
From 2017 to 2021, the market experienced an incline at a CAGR of 2.7%. This sluggish trajectory was attributed to a general slowdown in the global automotive industry throughout 2019, combined with the recessionary outlook experienced as a result of the COVID-19 pandemic. As of 2020, the market reached US$ 9,638.98 Mn.
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However, as the pandemic crisis acquires a milder dimension, the overall outlook of the global automotive industry is expected to take a turn for the better. While sales in most part are likely to recover on the back of rising EV popularity, conventional vehicle sales are not expected to lose significance. This sustained popularity of fossil fuel driven automobiles is largely expected to keep demand for automotive exhaust mufflers afloat across the coming decade.
Key Takeaways from the Market Study
· Global automotive exhaust muffler market to be valued at US$ 10,166.2 Mn by 2022-end
· By product, center inlet automotive exhaust mufflers to accumulate 23% of the total revenue
· U.K to emerge as an opportunistic market for automotive exhaust mufflers, expected to surge at a CAGR of 7.4%
· China to be the fastest expanding market, clocking a CAGR of 8% from 2022 to 2032
· Inlet automotive exhaust mufflers measuring 1 ½-2 ½ inches to stand at around US$ 2,047 Mn in 2022
· Passenger cars to accumulate nearly US$ 3 Bn in value by 2022-end
“Because of rising air pollution levels and mounting environmental concerns, numerous counties' governing bodies are developing severe rules to reduce automotive exhaust emissions. This is incentivizing original equipment manufacturers (OEMs) to use sophisticated exhaust systems in vehicles in order to lessen their total environmental effect.”, says a Fact.MR analyst.
Competitive Landscape
The global market for automobile exhaust mufflers is highly fragmented. Players are concentrating their efforts on mergers, acquisitions, and innovation.
· Eberspaecher announced the launch of a new facility in Brazil in September 2021, expanding its global presence. The company's goal with this expansion was to produce a full exhaust after-treatment system as well as components for its new products, which included catalytic converters and mufflers for passenger automobiles and trucks.
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Key Segments Covered in the Automotive Exhaust Muffler Industry Report
- By Product Type
- Center Inlet
- Dual Inlet
- Offset Inlet
- Center Outlet
- Dual Outlet
- Offset Outlet
- By Sales Channel
- OEM
- After market
- By Size Type
- 1 1/2 - 2 1/2 in. Inlet
- 2 1/4 - 2 in. Inlet
- 2.1 - 3 in. Inlet
- 3 - 5 in. Inlet
- By Vehicle Type
- Compact Passenger Cars
- Mid-sized Passenger Cars
- Premium Passenger Cars
- Luxury Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
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Center Inlet Automotive Exhaust Mufflers will continue to be in high demand
Demand for centre inlet automotive exhaust mufflers will continue to grow based on product type. Currently, sales of centre inlet automotive exhaust mufflers account for more than 23% of the worldwide market's revenue, and this number is predicted to stay stable during the evaluation period.
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Automotive Exhaust Muffler Market, Center Inlet, Dual Inlet, Offset Inlet, Center Outlet Affordable Press Release Website, Free Press Release Network, Free Press Release Website, Free Press Release Service, Free Press Release
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