The global cold-end exhaust system aftermarket is expected to reach USD 6.04 billion by 2025, according to a new report by Grand View Research, Inc. Stringent government regulations & emission norms, complemented by sophisticated technology incorporations in the automobile exhaust component fabrication, are expected to boost the market growth. The increasing acceptance of electric vehicles as well as semi-autonomous and autonomous cars in the years to come is further anticipated to bolster the market growth.
Regional regulatory authorities, such as Japanese Automobile Sport Muffler Association (JASMA) and the U.S. Environmental Protection Agency, spectate and regulate the noise emission intensities concomitant with the present-day automotive resonators and mufflers in the automotive exhaust system.
The market can be categorized based on vehicle types into passenger cars and commercial vehicles. The growth in the disposable income of consumers in the emerging markets is expected to have a positive impact on the growth rate of passenger cars. The improving infrastructure, coupled with the modern lifestyle across the globe, is expected to fuel the sales of passenger cars. The rising trade activities of goods and materials via road transportation is expected to fuel the demand for light and heavy commercial vehicles.
The market is expected to witness pioneering developments with the introduction of chemicals and new metals that provide weight reduction and cost-efficiency in automobiles. The nano-on-nano-technology is expected to ripple in the market owing to benefits rendered by the technique. It helps in slowing down the degradation rate of metals in automotive exhaust components.
U.S. cold-end exhaust systems aftermarket by vehicle type, 2014 – 2025 (USD Million)
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Further key findings from the report suggest:
- The storage type segment dominates the market in terms of revenue
- The containerization of perishable products is expected to increase the demand for refrigerated containers over the forecast period
- The rapid detection methods, such as nucleic acid-based, immunological-based, and biosensor-based foodborne detection methods, are gaining traction in the market
- The processed food application is expected to register a high CAGR of 12.1% over the projected period
- The Asia Pacific region is expected to portray a high growth rate over the forecast period
- The rising popularity of quick-service restaurants, technological advancements in food packaging, and modern retail trade are driving the processed food application
- The key market players include Lineage Logistics (U.S.), Nordic Logistics (U.S.), Swire Group (UK ), and Wabash National Corporation (U.S.)
For more information: http://www.grandviewresearch.com