As per Maximize Market Research analysis, the Automobile Muffler Market was valued at USD 5.89 billion in 2021 and is projected to reach USD 8.84 billion by 2029, growing at a CAGR of 5.2 % during the forecast period.
Pune, Maharashtra, October 17, 2022 – Maximize Market Research, a leading market research company has published an intelligence report entitled Global Automobile Muffler Market 2021 which is a complete study of meticulous primary and secondary research. The report systematically covers analyzed understandings in view of the market; along with its ever-changing patterns, industry environment, and all leading characteristics of the market. This research methodology has been applied to examine the global Automobile Muffler market and these results have been reasonably mentioned in the report.
Automobile Muffler Market Overview:
A muffler or silencer is a noise-reducing device used in an automobile’s exhaust system that decreases the noise produced by the exhaust of an internal combustion engine. The global automobile muffler market is expected to rapidly grow in the near future. Growing environmental concerns and stringent exhaust noise rules are pushing the automobile mufflers market. Reduced engine noise and higher fuel efficiency are also expected to boost the global automobile mufflers market during the forecast period.
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Automobile Muffler Market Dynamics:
Muffler manufacturers have created a variety of mufflers with various chambers that allow passing sound waves to produce a certain noise. Mufflers allow vehicle lovers to turn up the volume of their sports car or truck engine sounds to a strong growl. Consumer desire for engine sound modification is expected to raise demand for mufflers throughout the forecast period. Electric car demand and sales have surged significantly in recent years across the world. It is due to a variety of factors, including a strong emphasis on sustainable growth, constantly changing environmental circumstances, high levels of air pollution, and so on.
The growing market for electric scooters and electrical motorcycles is anticipated to boost the growth of the automobile muffler market over the forecast period. Electric vehicles have some benefits over gasoline-powered automobiles, which would attract more purchasers. Electric vehicles create no emissions, making them an excellent alternative for ecologically responsible driving. The development of a strong footprint by prominent players is expected to reduce the pricing pressures created by regional players, resulting in higher profitability. Furthermore, with the implementation of new technologies, the vehicle muffler market provides a number of advantages, including lower carbon dioxide emissions and improved fuel consumption. Several vehicle exhaust system manufacturers are increasing their efforts in the improvement and development of cutting-edge catalysts.
Automobile Muffler Market Segment Analysis:
Based on the Product Type, the market is segmented into Absorptive Mufflers, Turbo Mufflers, and Chambered Mufflers.
Based on the Vehicle Type, the market is segmented into Two Wheeler, Passenger Cars, and Commercial Vehicles.
Based on the Application, the market is segmented into OEM and Aftermarket.
Automobile Muffler Market Regional Analysis:
Asia Pacific accounted for over 65% of Automotive Muffler system demand in 2021 and is expected to grow at a CAGR of more than 7.6% during the forecast period. This might be due to the region’s increased technical expertise and spending capacity. Furthermore, the developing automotive sector in emerging markets such as China and India is likely to fuel market growth.
List of Automobile Muffler Market Key Players:
- Onyxautosilencer
- Apexhaust
- Faurecia
- ASPO Ltd.
- THUNDER
- Sango
- Tenneco
- Eberspächer Group
- Friedrich Boysen GmbH & Co. KG
- Benteler International AG
- Futaba Industrial Co., Ltd.
- Yutaka Giken Co., Ltd.
- SANGO Co., Ltd
- Bosal International N. V
- Harbin Airui Automotive Exhaust Systems Co. Ltd.
- AP Exhaust Products
- ONYX AUTO INDIA
- Munjal Auto Industries Limited
- Mark Exhaust
- Eminox
- HYAUTOMOTIVE CORP.
- The Dinex Group
Key Questions answered in the Automobile Muffler Market Report are:
- Which product segment grabbed the largest share of the Automobile Muffler market?
- What is the competitive scenario of the Automobile Muffler market?
- Which are the key factors aiding the Automobile Muffler market growth?
- Which region holds the maximum share of the Automobile Muffler market?
- What will be the CAGR of the Automobile Muffler market during the forecast period?
- Which application segment emerged as the leading segment in the Automobile Muffler market?
- Which are the prominent players in the Automobile Muffler market?
- What key trends are likely to emerge in the Automobile Muffler market in the coming years?
- Which company held the largest share in the Automobile Muffler market?
Related Report Published by Maximize Market Research:
Automotive Exhaust System Market
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