Global Automotive Exhaust System Market 2019-2023 | Adoption of Active Exhaust System by Automotive OEMs to Fuel Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 20, 2018--The global automotive exhaust system market is expected to post a CAGR of nearly 4% during the period 2019-2023, according to the latest market research report by .
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181120005537/en/
Technavio has released a new market research report on the global automotive exhaust system market for the period 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing adoption of commercial vehicles. Even though the passenger cars segment is witnessing a reduction in the adoption of diesel engines, commercial vehicles have remained dominant with respect to the adoption of diesel engines. As electric vehicle technology is still at the nascent stage, diesel engines will continue to dominate the CVs segment during the forecast period.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the adoption of active exhaust system by automotive OEMs as one of the key emerging trends in the global automotive exhaust system market:
Global automotive exhaust system market: Adoption of active exhaust system by automotive OEMs
Automotive exhaust systems have come a long way with growing emphasis on controlling the emission level of vehicles across the world. The development of an efficient exhaust system that reduces emission-levels significantly has led to modern vehicles becoming quieter than transitional vehicles. This discourages some segment of customers, particularly high-performance car owners, who enjoy the muscular engine sound. This led them to adopt aftermarket high-performance exhaust system in recent years. The demand for aftermarket fitment is increasing significantly in recent years due to this fact. As a result, automotive OEMs developed an active exhaust system technology for the high-performance models that comply with regulatory standards, and also satisfy customer demands.
“Prominent automotive OEMs are actively engaged in the development of active exhaust system solutions. In order to meet the demand for sophisticated exhaust systems during the forecast period, OEMs are expected to expand the offering of active exhaust system among other models,” says a senior analyst at Technavio for research on automotive components.
Global automotive exhaust system market: Segmentation analysis
This market research report segments the global automotive exhaust system market by application (passenger vehicles and commercial vehicles) and geographical regions (APAC, EMEA, and the Americas).
The passenger vehicles segment held the largest market share in 2018, accounting for over 84% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2018 with a market share of over 54%. This region is expected to dominate the market through 2023, followed by EMEA and the Americas respectively.
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.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses 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 .
View source version on businesswire.com:https://www.businesswire.com/news/home/20181120005537/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: AUTOMOTIVE GENERAL AUTOMOTIVE
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 11/20/2018 11:13 AM/DISC: 11/20/2018 11:13 AM