Automotive Exhaust Systems Global Market Growth Outlook Through 2024-2033
Automotive Exhaust Systems Market Growth Outlook Through 2024-2033 You Can Now Pre Order Your Report To Get A Swift Deliver With All Your Needs ”
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LONDON, GREATER LONDON, UNITED KINGDOM, September 10, 2024 /EINPresswire.com/ -- The automotive exhaust systems market has experienced robust growth in recent years, expanding from $40. 28 billion in 2023 to $42.91 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to regulatory emissions standards, consumer demand, vehicle production growth, fuel efficiency requirements, noise pollution control.
What Is The Estimated Market Size Of The Global Automotive Exhaust Systems Market And Its Annual Growth Rate? The automotive exhaust systems market is projected to continue its strong growth, reaching $55.89 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to electric and hybrid vehicles, lightweight materials, autonomous vehicles, aftermarket and retrofit market, hydrogen fuel cell vehicles, recycling and sustainability, emissions reduction goals.
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Growth Driver Of The Automotive Exhaust Systems MarketThe increase in automobile production is driving the automotive exhaust systems market. Rapid growth in disposable income among individuals in both developing and developed countries and growing demand for a personal vehicle for daily commute to work has contributed to rapid growth in demand for automobiles across the globe. The rapid growth in demand for automobiles is expected to the boost utilization of automotive exhaust systems, as they are a vital component in the manufacturing of automotive vehicles.
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Which Market Players Are Driving the Automotive Exhaust Systems Market Growth?Key players in the automotive exhaust systems market include Benteler International AG, Continental AG, Eberspacher Group, Faurecia SE, Friedrich Boysen GmbH & Co. KG, Tenneco Inc., MagnaFlow.
What Are the Emerging Trends Shaping the Automotive Exhaust Systems Market Overview?Many companies operating in the automotive exhaust systems market are involved in the development of new innovative products with enhanced design using lightweight materials that will help reduce the overall weight of automobiles and reach new emerging markets. Enhanced design and top-tier materials result in decreased vehicle weight, improved engine efficiency, and reduced fuel consumption, benefiting overall performance.
How Is The Global Automotive Exhaust Systems Market Segmented?1) By Technology: Diesel Oxidation Catalyst (DOC), Diesel Particulate Filter (DPF), Selective Catalytic Reduction (SCR), Exhaust Gas Recirculation (EGR), Gasoline Particulate Filter (GPF), Other Technologies2) By Vehicle Type: Passenger Cars, Light Commercial Vehicle, Truck and Bus
Geographical Insights: Asia-Pacific Leading The Automotive Exhaust Systems MarketAsia-Pacific was the largest region in the automotive exhaust systems market in 2023.The regions covered in the automotive exhaust systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Automotive Exhaust Systems Market DefinitionThe automotive exhaust systems refer to a system that collects and exhaust gases from a vehicle by removing harmful substances. It also reduces the level of noise and discharges filtered exhaust away from the occupants of the vehicle. Performance exhaust systems help to maintain optimal air levels inside the vehicle's engine. These optimal levels then decrease the need for the engine to consume extra fuel to compensate for dirty air levels.
Automotive Exhaust Systems Global Market Report 2024 from TBRC covers the following information:• Market size data for the forecast period: Historical and Future• Macroeconomic factors affecting the market in the short and long run• Analysis of the macro and micro economic factors that have affected the market in the past five years• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global automotive exhaust systems market report covering trends, opportunities, strategies, and moreThe Automotive Exhaust Systems Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive exhaust systems market size, automotive exhaust systems market drivers and trends, automotive exhaust systems market major players, automotive exhaust systems competitors' revenues, automotive exhaust systems market positioning, and automotive exhaust systems market growth across geographies. The automotive exhaust systems market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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September 10, 2024, 16:15 GMT
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