Automotive Exhaust Components Aftermarket Market Emerging Trends And Forecast 2027
A recent report published by research nester titled, “Global Automotive Exhaust Components Aftermarket Market 2018-2027”, delivers a detailed overview of the global automotive exhaust components aftermarket market in terms of market segmentation by material type, by vehicle type, by fuel type, by component, by sales distribution type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
The automotive exhaust component is an important part of the automobile as it controls the exhaust gases which are coming out of the vehicle after the combustion of fuels. There are many reasons which deals with the growth of sale of the Automotive exhaust system it can be environmental or government policy. The exhaust coming out of the automobile has an adverse impact on the environment so the government has made strict policy on fuel emission. It has become evident that the automotive exhaust system is set to increase in near future on account of the above-stated factors. The developers of the automotive exhaust system are now focusing on the research and development in the automotive exhaust system to produce a more efficient exhaust system that controls the pollution caused by gases coming out of the vehicle.
The CAGR of the Automotive Exhaust Component market is expected to be around 4.5% during the year 2018-2027 and will reach USD 500 Bn by 2027. The global automotive exhaust system is classified on basis of material type, vehicle type, fuel type, regional type, and sale and segment analysis. In the product type category, the muffler segment is expected to dominate the market share. The CAGR alone of the muffler component is expected to be 3.8% during the period from 2018-to 2027.It is expected to reach around USD 13 Bn by 2027.
North America and Europe currently dominate the market but slowly Asia pacific regions such as China and India are making inroads into the market domain. The factors that favor the Asia-pacific region include cheap labor and low cost. North America and Europe use advanced exhaust after-treatment products for further reduction in harmful gases. Asia-Pacific region is not too far behind with rapid industrialization and stringent government policies which will boost the market growth in the future.
Acquisitions and Joint Ventures will boost the Global automotive component Aftermarket market
On the account of the increase in joint ventures at global and local levels, there is a growth in the automotive exhaust system. The merger and acquisitions provide solutions to OEMs to develop the technology and provide a level playing to foreign companies to establish themselves in the competitive market. The innovation such as the development of exhaust manifold has the least carbon emission and protects the environmental degradation. The exhaust manifold segment is the fastest growing segment anticipated to expand at a CAGR of around 4.1% during the forecast year.
This report also provides the existing competitive scenario of some of the key players of the global automotive exhaust components aftermarket market which includes company profiling of key players Sango Co. Ltd., Eberspaecher Climate Control Systems GmbH & Co. Kg., Tenneco Inc., Faurecia SA., Futaba Industrial Co. Ltd., Friedrich Boysen GmbH & Co. Kg., Yutaka Giken Co. Ltd., Sejong Industrial Co., Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global automotive exhaust components aftermarket market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
