Los Angeles, December 13, 2019 – In its recently published report, QY Research has provided unique insights about the car muffler market. The report titled, “Global (United States, European Union and China) Car Muffler Market Research Report 2019-2025”, analyzes the market dynamics and provides latest updates such as technological developments, mergers and acquisitions, and assessment of new entrants in the market that make an impact on the different segments.
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According to the report, the global (United States, European Union and China) car muffler market is predicted to be greater than US$4.4 mn by 2025 from US$3.7 mn in 2019. The market will register a CAGR of over 2.5% between 2019 and 2025.
Growing Demand for Fuel-efficient Vehicles Boost Market
The installation of a car muffler makes significant differences to the noise level of a car. The main function of a car muffler is to reduce the noise emissions from an engine by simply allowing exhaust gases to pass seamlessly. Increasing environmental concerns and growing e-scooters and e-motorcycles market are expected to boost the demand for the car muffler market in the coming years.
In addition, the rising demand for fuel-efficient vehicles and increasing technological advancements are likely to provide lucrative opportunities for the growth of the market. The adoption of technological advancements to reduce carbon emissions and improve the fuel consumption of vehicles are also opening up new avenues for existing companies.
Asia Pacific to Occupy the Largest Market Share in the Global Car Mufflers Market
Among the geographies, Asia Pacific is expected to be the leading segment in the car muffler market due to growing automotive industry in developing nations such as India and China. North America is also anticipated to drive the global car muffler market due to the stringent regulations laid by the government to reduce greenhouse effect. Owing to largest automotive industry in the Europe region, the demand for car mufflers is also identified as increasing. Innovations in designs will fuel the car muffler market in both these regional markets during the forecast period.
Global Car Muffler Market: Segment Analysis
The global car muffler market is segmented on the basis of product type and applications. The application segment includes the aftermarket and OEM. The product type segment includes chambered mufflers and bullet mufflers. Each of these segments is expected to lead the demand for car mufflers during the forecast period.
Global Car Muffler Market: Key Players
Major players that are operating in the global (United States, European Union and China) Car Muffler Market are Sejong Industrial, Flowmaster, Tenneco Inc., Gibsun, Hebei Lantian, Remus, Chongqin Automobile Muffler, HKS, Eberspächer, Dynomax, MagnaFlow, Walker Exhaust Systems, and Midas.
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