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Automotive Absorptive Mufflers Market is set to reflect a miniscule CAGR of 2.7% by the forecast period 2022 - States Fact.MR
The global automotive exhaust muffler market is expected to witness a sluggish growth over the next five years. Limited application and lack of innovation is delaying the possibility of any significant progress of the market.At the same time, inflating cost is impacting the overall sales of the automotive exhaust mufflers.
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Moreover, the unavoidable backpressure is the greatest designing & technical fault of automotive exhaust mufflers, which makes it one of least favoured automotive components.
Fact.MR’s latest report projects that the global automotive exhaust muffler market will reach a valuation of around US$ 10,166.2 Mn by the end of 2022.
Apart from its main function of reducing the noise emanated by the engine, automotive exhaust muffler can sometimes help in enhancing the vehicle’s fuel efficiency.
The aforementioned factors are expected to play an important role in determining the future prospects of the market.
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Global Automotive Exhaust Muffler Market: Key Projections
Europe to dominate the global market for automotive exhaust muffler over the forecast period. The region is projected to command for the largest share of the global market in terms of revenue.
Presence of a well-established automotive industry in Europe will continue to propel the market for automotive exhaust muffler in the region.
Asia-Pacific excluding Japan (APEJ) is also expected to emerge as an attractive market for automotive exhaust muffler over 2022. The market in APEJ is projected to reflect a relatively faster CAGR as compared to other regions.
In APEJ, China will remain a key market for automotive exhaust muffler owing to the robust expansion of the automotive sector in the country.
On the basis of the product type, the center inlet segment will retain its top position over 2022. The segment currently accounts for more than 23% share of the global market in terms of revenue.
After market is expected to remain largest sales channel for automotive exhaust muffler throughout the assessment period.
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The aftermarket sales channel segment currently represents for more than 67% revenue share of the market of the global market.
Based on size, the 1 1/2 - 2 1/2 in. Inlet automotive exhaust muffler segment is estimated to stand at around US$ 2,047 Mn by the end of 2022, reflecting a CAGR of little under 3%. In terms of revenue, this segment currently commands for more than 19% share of the market.
By vehicle, the compact passenger cars segment is projected to hold the predominant share of the global market during the forecast period. Towards the end 2022, the segment is estimated to surpass a valuation of US$ 2,787 Mn, reflecting a steady CAGR.
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