Global Automotive Muffler Market 2019-2023 | Increasing Adoption of Hybrid Vehicles to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Sep 10, 2019--
The global automotive muffler market size is poised to reach USD 2.91 billion by 2023, according to a new report by Technavio. However, the market is expected to decelerate at a CAGR of close to 4% during the forecast period.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190910005800/en/
Technavio has published a new market research report on the global automotive muffler market 2019-2023. (Graphic: Business Wire)
“Manufacturers of automotive mufflers are focusing on improvements in design, technology, and materials used in mufflers. Hence, they are carefully selecting the raw material for the manufacture of automotive mufflers. Manufacturers are also emphasizing on developing lightweight mufflers for the elimination of noise pollution. Such improvements will drive market growth during the forecast period,” says a senior analyst at Technavio. Request Free Sample Pages
The market is driven by the increasing adoption of hybrid vehicles. In addition, stringent regulations governing vehicular noise emissions are anticipated to further boost the automotive muffler market during the forecast period.
The hybrid vehicle technology is gaining immense popularity in the global automotive market, driven by the demand for alternative fuel-driven vehicles from emerging countries such as China, India, and South Korea and the Middle East. Hybrid vehicles offer numerous benefits such as low emissions, improved fuel efficiency, and increased driving range. The incorporation of advanced exhaust systems in hybrid vehicles will drive the growth of the automotive muffler market.
The number of vehicles on the road is rapidly increasing, especially in urban areas. Thus, environmental pollution and vehicle noise emission have increased across regions. As vehicular noise adversely affects the health of the people, controlling these emissions has become crucial for government bodies. Governments of many countries are focusing on decreasing noise emission from vehicles by enforcing stringent regulations on newly manufactured vehicles. Thus, manufacturers of automotive mufflers are modifying the designs of mufflers to include technologies such as SCR and EGR to comply with noise emission standards. This will fuel the growth of the market during the forecast period.
For More Information: Request Free Sample Pages
The report includes detailed profiles of the leading companies & prominent vendors of the market:
Market Segmentation by Application:
The Automotive Muffler Market can be broadly categorized into the following product segments:
Key Regions for the Automotive Muffler Market:
Featuring a breakdown of region-wise market shares until 2019.
Some of the key topics covered in the report include:
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report
Related Reports on Consumer Discretionaryare:
Automotive Emblem Market – Global Automotive Emblem Market by application (passenger vehicles and commercial vehicles) and geography (APAC, Europe, MEA, North America, and South America).
Automotive Microcontrollers Market – Global Automotive Microcontrollers Market by capacity (32-bit microcontroller, 16-bit microcontroller, and 8-bit microcontroller) and geography (APAC, Europe, MEA, North America, and South America).
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190910005800/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: AUTOMOTIVE MANUFACTURING MANUFACTURING AUTOMOTIVE GENERAL AUTOMOTIVE
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 09/10/2019 10:59 AM/DISC: 09/10/2019 10:59 AM