China Automobile Exhaust Muffler Market to Grow at a CAGR of 8% by 2032

NEW YORK, Feb. 3, 2022 /PRNewswire/ -- In 2022, the global automobile exhaust muffler market is predicted to reach US$ 10,166.2 million, rising to US$ 18,552.29 million by 2032. During the forecast period of 2022-2032, the automobile exhaust muffler market is estimated to grow at a CAGR of 6.2%.

The global vehicle exhaust systems market has shrunk in recent years, owing to recessionary tendencies in the automotive industry and a further COVID-19 pandemic-induced shutdown in 2019. In two key markets, China and the United States, there were huge gaps in the demand-supply relationship for vehicle output.

Despite long-term lockdowns and social distance restrictions slowing growth, the business has remained relatively stable, thanks to continued R&D expenditures aimed at growing EV production. Major automakers are increasing EV research, potentially opening up new revenue streams for vehicle exhaust system manufacturers, taking advantage of government concerns about pollution reduction goals.

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As customers' and manufacturers' views toward sustainability have altered, the need for efficient and high-performance automobiles has grown. The environment is rapidly degrading as a result of the enormous amount of emissions produced by automobiles. Manufacturers have responded to customer concerns by developing systems that reduce emissions and purify the gases produced by fuel combustion.

Several manufacturers of automotive exhaust systems are increasing their spending in the research and development of new catalysts. The usage of a three-way catalyst can help to limit the amount of pollution discharged from the vehicle by converting it at 100% efficiency at its operating temperature, which is normally over 400oC, which is higher than the temperature of standard systems. Because catalysts are such important components of exhaust systems, several companies are investing extensively in their development.

U.K Prime Minister announced a Ten Point Plan for a Green Industrial Revolution. In 2030, U.K intends to decrease or eliminate the sale of new gasoline and diesel vehicles. From 2035 forward, all tailpipe emissions must be nearly zero. The market for vehicle exhaust mufflers is expected to rise as a result of these advances.

"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.

Key Takeaways:

• By the end of 2022, the global automobile exhaust muffler market is expected to be worth US$ 10,166.2 million.
• By product, center inlet automobile exhaust mufflers are predicted to account for 23% of total revenue.
• The United Kingdom is expected to emerge as a lucrative market for automotive exhaust mufflers, with a CAGR of 7.4%.
• China will be the fastest-growing market, with a CAGR of 8% from 2022 to 2032.
• Inlet automotive exhaust mufflers sized 1 ½-2 ½ inches are expected to cost roughly $2,047 million in 2022.
• By the end of 2022, passenger cars will have amassed roughly $3 billion in worth.

Growth Drivers:

• Demand for automotive exhaust mufflers is predicted to remain stable over the next decade due to the continued popularity of fossil fuel-powered vehicles.

Key Restraints:

• Rising adoption of electric vehicles in the recent years is expected to hamper the automotive exhaust mufflers market growth.

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Competitive Landscape

The global market for automobile exhaust mufflers is highly fragmented. Mergers, acquisitions, and innovation are the mainstays of the industry. The market for vehicle exhaust mufflers has recently changed.

• In November 2021, BENTELER partnered with Maruyasu Industries, an automotive components manufacturer. Companies worked to make combustion engines cleaner, assisting automakers in reducing pollutant emissions and meeting impending standards such as EU 7 and CN7.
• Eberspaecher is increasing its global reach by announcing the opening of a new facility in Brazil in September 2021. With this development, the business aimed to manufacture a complete exhaust after-treatment system as well as components for its new products, which included catalytic converters and mufflers for passenger cars and trucks.

Key Companies Profiled by Fact.MR

• Peugeot S.A. (Faurecia SA)
• Tenneco Inc.
• Eberspächer Gruppe GmbH & Co. KG
• Futaba Industrial Co. Ltd.
• Benteler International AG
• Friedrich Boysen GmbH & Co. KG
• Yutaka Giken Co., Ltd.
• Sejong Industrial Co., Ltd.
• Bosal Nederland B.V.
• Eminox Limited

More Valuable Insights on Automotive Exhaust Muffler Market

Fact.MR, in its new report, offers an unbiased analysis of the global automotive exhaust muffler market, analysing forecast statistics through 2022 and beyond. The survey reveals growth projections on in automotive exhaust muffler market with detailed segmentation:

• 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
• By Region :
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• Middle East & Africa (MEA)

Key Questions Covered in the Automotive Exhaust Muffler Market Report

• The market survey also highlights projected sales growth for automotive exhaust muffler market between 2022 and 2032
• The report offers insight into automotive exhaust muffler demand outlook for 2022-2032
• Automotive exhaust muffler market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
• Automotive exhaust muffler market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

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Automotive Exhaust Aftertreatment Systems Market Forecast - The passenger car sector dominates the market for automotive exhaust aftertreatment systems. As various governments throughout the world require exhaust systems to be installed in new automobiles, demand for automotive exhaust aftertreatment systems is likely to increase.

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SOURCE Fact.MR